This is a powerful article because it was written as an opinion piece by two high profile lawyers who know the playing field and the players as well. That's important.
This part is key
There is also a budget preclusion known as the Rohrabacher-Farr Amendment now being litigated as a shield against federal prosecution of strictly compliant cannabis businesses.
This is profound as it gives protection for almost the next year against federal interference that many may be concerned about with Sessions in the AG seat. And once that year expires, even if this amendment is not voted in again, the country will only be that much further along in the expansion of these cannabis laws to make reversing the marijuana juggernaut all the more difficult politically. Taken from this article:
Cannabis may be playing a states-rights siren song of the sort that Trump's base loves to hear. The cannabis infrastructure is too far along in many states to be eradicated.
And while the federal government tore up the alcohol infrastructure during Prohibition, the nation learned, the hard way, a valuable lesson that makes dismantling unlikely to be repeated.
Also as this article clearly explains, there are too many more pressing concerns that the DoJ must face to be focusing on cannabis as a place to be directing its scant federal budget.
Finally, given high-priority concerns such as terrorism, major financial fraud, child pornography, cartel conspiracies involving hard drugs, gang racketeering and firearms trafficking, the US attorneys in major recreational cannabis jurisdictions such as California, Colorado, Washington, Oregon and Nevada are unlikely to view cannabis as a serious public threat.
So although many trading this sector were initially fearful of Sessions as choice for AG, the past few trading "sessions" indicate that the typical knee-jerk reaction to a nomination as ridiculous as Sessions in the first place, was just that. Folks have now had some time to process just how much of a threat he is to the developing cannabis infrastructure, and I believe that degree of threat is much less scary than we first may have assumed. Further, I have heard/read that Sessions was ultimately chosen for his stance on immigration, and his thoughts on cannabis are not at all a factor.
Keep in mind Peter Thiel manages a cannabis hedge fund, and is now a part of Trump's elite top 16. And from what I have gathered, he was chosen by Trump for his knowledge of the cannabis sector (obviously that cannot be confirmed). In truth, Trump is a businessman first and foremost, and why wouldn't he want a major stake in the biggest investment opportunity that this country has ever seen since the alcohol industry immediately preceding the repeal of prohibition?!
Clearly, no one can know for certain which way this new administration will ultimately go on the cannabis question, but my $$ is on a Trump thumbs up for continued proliferation of the overall sector. The final comment by these authors says it all:
But he will face strong winds of change, and ultimately is unlikely to have decision-making authority in the Trump administration over cannabis policy.
Best of luck to all,
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