Why the U.S. Has Yet to Push Full Rec Legalization Throughout The Cannabis Industry
2020 has been a rough year for marijuana stocks and the cannabis industry at large. Although we have seen some positive changes such as demand increase and the designation of cannabis as essential in many states, overall it has been quite a tough time period. But, with so much changing for pot stocks the cannabis industry, people still can’t figure out why the U.S. won’t legalize cannabis nationwide for recreational use. Of course, right now, there are bigger fish to try than making weed legal.
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But, studies continue to show that the vast majority of the public support the country going full rec. since the mid-90s, more than 60% of the U.S. has given the go-ahead for legal cannabis. This has sparked an entire cannabis industry in the country with many marijuana stocks being formed at the same time. But, the last major boundary for the industry to succeed is whether or not the U.S. goes full rec. Right now, there are a few key reasons as to why it has yet to occur. But, none of these mean that it is off the table either this year or next.
The Cannabis Industry is a Partisan Place
Like anything, the divide amongst politicians in the U.S., is the main reason that cannabis has yet to be legalized. Although conservatives have increasingly shown their support for legal marijuana, it is not yet to the level it needs to be. The stark majority of liberals however have continued to state that legal cannabis nationwide is simply the next step in pushing the cannabis industry forward. Companies like Trulieve Cannabis Inc. (TCNNF Stock Report) and others are desperately waiting for this to occur. Full rec legalization in the U.S. would be a major step forward for the increasing number of marijuana stocks in the industry.
But again, the House and the Senate are still very divided in this issue simply because they do not agree with each other on anything. In addition to this, President Trump and former Vice President Biden, both have yet to put cannabis before other issues. And while this may make sense in the current state of geopolitics, it is definitely an issue that needs addressing. Whether or not legalization occurs next year or in 2022 is still very much up in the air. But, the partisan issue remains the most prominent barrier for growth in the cannabis industry.
Marijuana Stocks Need To Have a Legal Cannabis Industry
Marijuana stocks in the U.S. have been patiently waiting for cannabis to become legal. Despite years of challenges, it still has not happened. But, given the vast increase in size of the cannabis industry in the past few years, it seems like it may have more political pull than previously. The hopes are that the government will see just how prominent cannabis is in the country.
With the recent designation of marijuana businesses as essential during the lockdown, it is more clear than ever that this is the case. But as usual, things are slow to change in this country. And cannabis law seems to be no different. Moving forward, we will either have to wait for a government that supports it, or for the bill to be passed by the public. For now, all we can do is hope that we’re in a state with recreational legalization.
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