From CNBC: 2024-10-01 13:05:59

Vice President Kamala Harris reiterated her support for cannabis legalization during a recent podcast interview. Industry leaders are hopeful but cautious, calling for concrete action rather than just promises. Harris previously introduced legislation for cannabis decriminalization as a senator, but progress has been slow under the Biden administration.

The Biden administration has expressed intentions to reschedule cannabis from a Schedule I to a Schedule III drug, easing restrictions and opening doors for further research and medical use. However, the process has faced delays, with a potential reclassification not expected until December. Stakeholders are eager for more details on proposed reforms.

Investors are eagerly watching for updates on cannabis policy from the Harris campaign amid hopes for bipartisan support. Meanwhile, skepticism remains regarding former President Trump’s stance on legalization. The AdvisorShares Pure US Cannabis ETF has surged following Trump’s positive comments on marijuana, signaling growing confidence in federal reform prospects.



Read more at CNBC: Harris the pro-cannabis candidate. The industry isn’t convinced