Sessions cancelled course Obama’s legalization of recreational marijuana

Sessions cancelled course Obama’s legalization of recreational marijuana

According to Reuters, the U.S. Department of Justice on Thursday overturned the course of Barack Obama to the simplification of Federal laws regarding marijuana. The Ministry believes that the decision of such cases should bear exclusively Federal prosecutors.

The Ministry said that the Obama administration has created a «safe Harbor» for the industry when conducting market operations, and it is «contrary to what is stated in the Federal law.»

Sessions cancelled course Obama’s legalization of recreational marijuana

Jeff sessions issued a document, stipulating the abolition of the «rule of Cole.» According to recent court cases related to trafficking in marijuana in States where it is legal, was a priority.

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This decision should be a Wake-up call for investors, said Kevin Sabat, group Director of antilocalization marijuana Smart Approaches to Marijuana and a former Federal expert on drug control, who served in the administrations of Clinton, Bush and Obama.

«It signals the closure of the «safe haven» for big investors in marijuana,» Sabet said. «This fundamentally changes how many referred to the position of the Federal government on marijuana today rather expressed as «see no evil, hear no evil».

The announcement of this abrupt change of course the Federal government happened in the same week as the release of California’s legal sale of marijuana for adults. Recall, January 1, in California was legalized marijuana. Legalization, according to the firm’s calculations, analyzes the market of cannabis Green Wave Advisors, could bring California 5,1 billion $.

Sessions cancelled course Obama’s legalization of recreational marijuana

According to statistics, sales of medical and recreational marijuana this year was to be, respectively, 4,75 and 6 billion. To 2023 year both forms of the drug turnover will exceed 20 billion dollars, and in 2024 will be closer to 24 billion.

Analysts from Cannabis New Frontier Data underestimate the importance of speed, saying that Federal prosecutors had always maintained the right to put pressure on the industry. However, the number of publicly traded marijuana decreased slightly immediately after the announcement.

Analysts also believe that, despite the fact that the news is a little undermined activity in industry, trade continue according to the planned vector; depend it will on the strength of political support provided by the Ministry of justice to the aggressive interference in the activities of the traffickers of cannabis in States where pot is legal.

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