The legal weed industry seems to be developing throughout North America. According to cannabis researcher ArcView in collaboration with BDS Analytics, legal weed sales in North America rose 33% to $ 9.7 billion last year. In a decade, forecasts for legal pot sales of more than $ 47 billion are expected. This rapid growth and growing public support for cannabis is one big reason why investors just can not get enough of their pot stocks.
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<h2 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" The call to rethink cannabis in the US is picking up speed "data-reactid =" 34 " The Call to Recalculate Cannabis in the United States Boosts
But unlike Canada and Mexico, marijuana in the United States is completely illegal at the federal level. The cannabis classified as a Drug-I drug by the United States Drug Enforcement Agency remains illegal, is highly susceptible to abuse, and has no recognized medical benefits. In fact, its classification puts it alongside drugs like LSD and heroin.
Yet, the call to rethink or plan marijuana has increased. In the US, the preference for legalizing the pot has risen from 64% in October 2017 per gallup from just 25% in 1995, the year before California became the first OK medical grass for compassionate patients. Legalization of marijuana seems to be what the majority of respondents want, and would simultaneously open up a new revenue stream for the federal government and create a range of jobs directly and indirectly linked to the pot industry.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Evidence will also grow cannabis or cannabinoids Derived Drugs Could Provide Real Medical Benefit UK-Based Cannabinoid Drug Developer GW Pharmaceuticals (NASDAQ: GWPH) has provided evidence that its lead drug Epidiolex is useful in reducing seizure frequency in two rare forms of Childhood epileptic seizures known as Dravet syndrome and Lennox-Gastaut syndrome In several Phase 3 trials, GW Pharmaceuticals' lead drug has slightly reached statistical significance in reducing seizure frequency compared to baseline. Placebo: In a month's time The top drug from GW Pharmaceuticals will be the first cannabinoid drug ever approved by the Food and Drug Administration (FDA). "data-r eactid = "37"> There is also evidence that cannabis or cannabinoid drugs could bring real medical benefits. UK-based Cannabinoid Drug Developer GW Pharmaceuticals (NASDAQ: GWPH) has provided evidence that its lead drug Epidiolex is used to reduce seizure frequency in two rare types of pediatric epilepsy, known as Dravet's Syndrome and Lennox-Gastaut syndrome. In several Phase 3 trials, GW Pharmaceuticals' lead drug has slightly reached statistical significance in reducing seizure frequency compared to baseline and compared to placebo. In a month's time, GW Pharmaceuticals' top drug could be the first cannabinoid-derived drug ever approved by the Food and Drug Administration (FDA).
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<h2 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " The rescheduling of marijuana could be after backfire "data-reactid =" 63 " Marijuana rescheduling could reverse
Last month, Senate Chuck Schumer (D-NY) Minority Leader announced his intention to introduce a bill To completely decriminalize marijuana at the federal level and thereby banish from the law the list of controlled substances. Of course, it is unlikely to go from one conceivable heaviest classification to the other end of the spectrum in one fell swoop.
Instead, a number of Capitol Hill MPs have proposed relocating cannabis. In this way, marijuana would become legal for medical purposes, although it would still be a regulated substance. Of all possible scenarios, the transition from Plan I to Plan II – d. H. A drug with recognized medical benefits that is still prone to abuse – the most successful outcome. Unfortunately, the rescheduling of cannabis could be reversed to the people who struggle the most for its legalization: medical patients.
Should marijuana be moved to List II, this would probably be considered a major victory for medical cannabis patients and for the marijuana movement as a whole. In this way, however, the FDA would be able to exercise full control of the industry.
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What Would FDA Regulation Look Like? First, the FDA would have the last word in the packaging and marketing of cannabis products. Given that Schedule II medicines are intended exclusively for medical patients, this would not be a big deal. We talk about tamper-proof and childproof packaging, but nothing excessive or unusual.
Second, the FDA would likely oversee the growth, processing and distribution of medicinal cannabis. In particular, it would be responsible for monitoring the consistency of the tetrahydrocannabinol (THC) content – the component of cannabis that makes you "high" – from one crop to the next. It could also monitor the consistency of cannabidiol (CBD), the non-psychoactive component of cannabis, which is also the primary cannabinoid in Epidiolex from GW Pharmaceuticals.
The terrifying gray area is that the FDA may also require medical cannabis companies that carry out FDA-approved clinical trials that definitely show that medical marijuana helps certain diseases. This would be an extremely costly and time-consuming process, and it could remove medical marijuana from a range of indications that patients could benefit from right now, at least until clinical trials are over and the FDA gives their OK.
The icing on the cake: Companies that sell Schedule II medicines continue to be subject to US tax legislation, paragraph 280E, the more than three-decade old tax rule that prohibits companies from obtaining normal corporate income tax deductions I or II substance.
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<h2 class = "Canvas Atomic Canvas Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" The Change Is Probably A Long Way "data-reactid =" 114 "> Change Is Probably A Long Way
In some ways, Schedule II could indeed be worse than Schedule I. Perhaps that's why the Florida Congressman, MP Matt Gaetz (R-FL), and MP Darren Soto (D-FL) are introducing a federal bill to ban cannabis to bring Annex III. In this way, the states would have more regulatory control, and the FDA would not be such an overpowering presence in the industry.
But no matter how many new bills are introduced at the federal level, the change does not seem to be over yet. Attorney General Jeff Sessions, who is an ardent adversary to the expansion of the legal cannabis industry, seems to be holding back from nothing to suppress any decriminalization or debt restructuring efforts. Meanwhile, although President Trump favors the idea of states' rights when it comes to regulating marijuana at the national level, it has an agenda that simply has no room for cannabis reform.
In other words, medical patients, enthusiasts and investors should count on marijuana and stay in the drug of Schedule I for some time.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb 0) – sm Mt (0.8em) – sm "type =" text "content =" More from the Motley Fool "data-reactid =" 118 "> More from the Motley Fool  <p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Sean Williams has no position in any of the The Motley Fool has no position B. in any of the above Stocks The Motley Fool has a disclosure policy "Data-Reactid =" 123 "> Sean Williams has no position in any of these stocks. The Motley Fool has no position in any of these values. The Motley Fool has a disclosure policy.