Cannabis Industry Prospects Brighten; Risks, Challenges Remain
The future looks brighter every day for the cannabis industry.
From recent findings that cannabis components may lead to treatment or even prevention of coronavirus infection in lung cells to yesterday’s vote by the House of Representatives in favor of the Safe Banking Act, barricades to full legalization just keep falling.
This isn’t the first time the act â€“ which would protect banks from federal penalties for doing business with cannabis-related businesses that comply with state laws â€“ has made it through the House.
It was first introduced in March 2019, and the House has approved it three times, only to have the Senate Banking Committee block its progress.
But with the current Democrat majority, apparent bipartisan support, and growing public and state-government support for cannabis legalization, the fourth time just might be the charm.