Over the last few weeks, the U.S. House passed a bill that could pave the way for legalizing cannabis at the federal level.
In fact, “the bill, which was sponsored by New York Representative Jerry Nadler, would remove marijuana from the Controlled Substances Act as the legislation is ‘long overdue legislation that would reverse decades of failed federal policies based on the criminalization of marijuana,’” as reported by Newsweek.
To help get the bill through the U.S. Senate, Senate Majority Leader Chuck Schumer are reaching out to Senators to see exactly what they want in the bill. Should it pass the Senate, the bill would then go to President Biden, who would reportedly be “hard-pressed” to veto it, as also noted by Newsweek.
As we near votes, some of the top companies that could benefit include Halo Collective Inc. (NEO: HALO) (OTCQX: HCANF), Canopy Growth (TSX: WEED) (NASDAQ: CGC), Tilray Inc. (NASDAQ: TLRY) (TSX: TLRY), OrganiGram Holdings (NASDAQ: OGI) (TSX: OGI), and Cresco Labs Inc. (CSE: CL) (OTC: CRLBF).