It’s ironic that even after such massive amount if research on marijuana, most of us still do not know how it benefits us. Thus, even the rules of medical marijuana companies regarding the drug are also changing.
The marijuana industry insiders say they have had a meeting with the operators of Canada’s largest stock exchange to develop a policy on investing in the U.S., where federal laws are violated, when it comes to growing and selling cannabis.
A few days back, Senator Patrick Leahy introduced an amendment that could still sustain the protections granted to several patients and medical marijuana providers in states, where it is legal.
On Wednesday, the legal medical marijuana companies faced a major hit just after the U.S. House Rules Committee stopped an amendment for medical marijuana protections from the House’s 2018 budget bill.
The Marijuana Roundup
In2014, the Congress passed the Hinchey-Rohrabacher Amendment. This law kept the U.S Department of Justice from allocating federal dollars to implement the federal prohibition laws in the states, where medical marijuana has been legalized. The amendment was introduced in the House budget plan by Reps. Dana Rohrabacher (R-California) and Earl Blumenauer (D-Oregon), who would stop the Justice Department from using federal funds for particular medical marijuana patients and in those states, where this drug is considered legal.
Although, the acceptance for legal marijuana is growing in some parts of the world, it is still illegal at the federal level, labeled a Schedule I substance along with heroin and LSD. The reason behind this ban is not having a clear picture about the effects of cannabis, a common name for marijuana. It is a psychoactive drug extracted from the Cannabis plant for various recreational or medical uses.
What are Risks that Medical Marijuana Companies Must be Worried About?
This amendment was voted “out of order,” and is now it is invalid. On Thursday, Rohrabacher and Blumenauer said in a statement that blocking the vote has imposed millions of patients depending on medical marijuana treatment at risk. They added that the decision goes against the expectation of the Americans.
The statement says that “There’s no question: If a vote were allowed, our amendment would pass on the House floor, as it has several times before,”
According to an April poll from Quinnipiac University, 73% of U.S. voters were against the Government enforcement of federal marijuana laws in states that have made medical and recreational marijuana legalized.
Don Murphy, Marijuana Policy Project’s director of conservative outreach stated “When an overwhelming majority of Americans oppose federal interference in state medical marijuana programs, it is unconscionable not to let their Representatives vote on whether to continue this policy,”
In April, Canada introduced the legislation with the simple idea of setting up plans to legalize marijuana by July 2018. This will surely have a huge impact on the medical marijuana companies in the U.S.