The way it sits right now DD, it's 100% a "State's Rights" issue, which is to say that while everything under the sun even remotely related to Cannabis is illegal on a Federal basis, The Feds have allowed the States themselves to determine to what extent, if any, they want to allow Cannabis sales within their borders. That wouldn't change if the Democrats lose on November 3rd.
Five additional states have Cannabis initiatives on their ballot this year. South Dakota (Can you believe that conservative South Dakota has an initiative on their ballot?), New Jersey, Arizona, Montana and Mississippi all will vote come the 3rd.
But it cannot be denied that Marijuana reform has been sweeping the country for the past ten years. So it is just a matter of time before every individual state has changed the state statutes regarding cannabis.
So that would still leave more than a few wrinkles in the industry. Banking is a huge one. In as much as Cannabis remains illegal on a federal basis, banks simply won't risk dealing with cannabis companies. There is however, federal legislation dealing with this which will probably pass both houses before long.
Interstate commerce is another issue the industry faces. Currently Cannabis products cannot be shipped across state lines which would obviously severely limit expansion. It wouldn't be impossible but it would be difficult, requiring that redundant facilities be erected in each state.
And Chuck has a good point. If Cannabis becomes legal on a Federal basis, there is a legitimate fear that big tobacco and big alcohol will enter the sector and throw.............LITERALLY throw billions into the fray.
Time will tell how it all shakes out. We can never forget that the entire sector is less than 5 years old. EVERYBODY is still trying to figure out what works and what doesn't work.
