Legalization of marijuana for both recreational and medical reasons has become a major concern in more than a dozen states in the US, that is, according to previous polls that reveals the overwhelming support and lawmakers who are eager to reap from this lucrative industry. Currently, eight states have already legalized the cannabis for recreational use.
But recently, President Donald Trump’s administration stunned the pot lovers after issuing warnings to the states that have legalized weed for recreational use which including California, Colorado, and Oregon, and that the federal law enforcement agents could be on their neck any time soon.
During the campaigning for presidency, Trump had no issue with those legalizing marijuana, but today, his regime seems to be planning to close down the key legalities of marijuana use for recreational purposes. Since marijuana is still prohibited under the federal law, most financial institutions are barred from collecting money from clinics that sell weed, thus forcing an all-cash industry that have developed fears of violent criminals especially among the employees.
As a result, the Colorado Gov. John Hickenlooper recently called on the Congress to pass laws that protect the financial institutions against the federal regulators for funding various players in marijuana industry. He got support from a few Congress members, including the Rep. Jared Polis, who formed the bipartisan Congressional Cannabis Caucus in February this year. The members aim at passing the federal legislation to help the remaining states to legalize marijuana.
Currently, the lawmakers from 17 states including the Connecticut, Hawaii, and Minnesota among others have launched over two dozen measures to support the legalization of marijuana for recreational use purposefully for revenue generation to enhance states’ economy and independency.
According to Mary Washington, a state delegate from Maryland, the spotlight is on the revenue and quick returns