Cannabis Post Election - Almost All Good News

agency-delay-openings-vote-CONTENT_2018.jpg

The midterm election results were very positive for the growing legal cannabis industry. Here are the highlights:

Outside of the North Dakota setback, the legal cannabis industry had a HUGE win in the election. Still, a divided Congress is likely to be a headwind going forward. This is mainly due to the heightened polarization between the two parties. There is so much animosity, I have a hard time seeing anything getting done out of spite for one another.

Still, the cannabis legalization effort could be a bridge between Republicans and Democrats. Republicans have a slight majority in favor of legalization, and this could be enough to get a bi-partisan bill of some kind passed. Another consideration is who will be Jeff Sessions replacement as Attorney General? The consensus seems to be anyone is likely to have a softer stance than Sessions did on the cannabis industry. Time will tell. As of now, the momentum is positive.

Sources: Bloomberg, NORML Election Wrap Up

ResearchCharles Freeman