“We believe the Biden win is an important step on the path to federal permissibility of cannabis in the US market through decriminalization and descheduling,” said Canopy CEO David Klein on a recent conference call with analysts.
“The results of the ballot initiatives clearly showcase that support for adult-use marijuana legalization extends across geographic and party lines and is supported by a majority of Americans. Legal marijuana is becoming the American norm,” he added. “This will likely increase pressure on Congress to pass major federal marijuana reform in the very near future.”
Despite the optimism,the industry faces roadblocks at the federal level, especially if Republicans maintain their Senate majority…
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