In this episode, Benjamin Bey of Soul D’licious Seasonings and guest co-host Bea Martinez of THC Production, LLC discuss cannabis legislation initiatives in the United States. Additionally, Bea talks about cannabis stocks, their past, and their future.
Canadian Cannabis Legislation
When Canada legalized cannabis on the federal level, many investors believed things would change for the better. And that’s no surprise. After all, with the emerging industry now coming into the mainstream, it only made sense that more money would flow into it. As a result, investors flocked in to invest in Canadian cannabis stocks. However, the bubble inevitably burst. Consequently, many people lost their money.
Now, what we’re seeing in the US is another round of investors flocking to cannabis stocks. But why? Well, Joe Biden’s election is the reason many people believe that this happened. Additionally, cannabis legislation initiatives are beginning to surface in the US Federal Government as well.
Cannabis Legislation Developments in the United States
When it comes to the US legislative branch, Chuck Schumer recently called for the decriminalization of cannabis. Additionally, he stated that his goals were to not only prevent future arrests and incarceration but to “help lift up the victims who were unfairly targeted by the War on Drugs.” Schumer is now the chief sponsor for the Marijuana Freedom and Opportunity Act. This new legislation would federally decriminalize cannabis and create a trust fund to support women and minority-owned businesses.
There are also talks of creating a cannabis banking system. The SAFE Banking Act is a piece of cannabis legislation that aims to avoid the cash-only problem the legal cannabis system is currently faced with. This bill passed in the House with support from multiple Republicans as well as Democrats. Now, the bill’s hands are in the Senate and then it can be signed into law. There are also other local initiatives to solve the cannabis banking crisis. In Nevada, the state has recently begun looking into closed-loop cryptocurrencies and integrated tracking systems. In fact, they recently contracted with two companies to beta test just such a system.
So, now that the Federal Government is showing signs of interest in legalization, cannabis stocks are booming again. They are currently on the rise as investors continue to pick up more and more shares. In fact, many have increased by 7% or more. Looking at all of these stocks, it could be a scary scenario. For example, it could do exactly what happened in Canada. Or it could continue to rise as cannabis legislation in the United States progresses toward legalization and regulation. As always, only time will tell.
This episode of Soul D’licious Infused with Benjamin Bey & Bea Martinez aired on February 13th, 2021 on KUNV 91.5.
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“Soul D’licious Infused”
Each podcast episode of Soul D’licious Infused includes different topics on the Nevada cannabis industry, as well as special guests. We interview different people from across the industry and discuss all kinds of topics. These include the pros and cons of different extracts, cannabis trends, local market info, and more. Additionally, we talk about cannabis science topics and cannabis studies. We feature the stories behind the people who work in the cannabis industry. Finally, we discuss our partnership with Soul D’licious Seasonings to create the first THC and CBD infused spices!
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