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Is Cannabis The Cash Crop Of The Future?

Caitlin McFall | Video Journalist

Attorney General William Barr has said he supports a measure put forward by the Democratic party that would strengthen state laws that have legalized cannabis.

The “Strengthening the Tenth Amendment Through Entrusting States Act” (STATES Act) would protect companies and citizens from federal marijuana laws, encouraging growth and increased production.

“Personally, I would still favor one uniform federal rule against marijuana but, if there is not sufficient consensus to obtain that, then I think the way to go is to permit a more federal approach, so states can make their own decisions within the framework of the federal law and so were not just ignoring the enforcement of federal law,” Barr said about the act being presented to Congress.

Since recreational marijuana first became legal in Colorado and Washington state in 2012, eight other states and District of Columbia have followed suit. Experts are estimating that, within a decade, legal sales alone could be worth $47 billion.

To give you an idea, Coca Colas global revenue in 2018 was $31.9 billion.

Legalizing marijuana has been historically unpopular with Republicans. But as figures continue to come out about the potential profits that legalizing marijuana can bring, some are starting to rethink their positions on this.

Former House Speaker John Boehner was “unalterably opposed” to legalizing any form of cannabis while in office. (RELATED:Republican-Backed Medical MarRead More – Source