So the President announced a few minutes ago “we’re looking at it.But I probably will end up supporting that, yes." He was talking about bills in Congress to let states regulate marijuana.
What does that mean for the cannabis industry? Well, you can go off on a lot of tangents and conversations about politics, but the bottom line is that this is great news and it’s great news on more than one level.
First, it shows that Congress can actually do something; that alone makes it newsworthy. And, it shows that yes,Congress can actually do something that requires bipartisan support. What a novel idea; working together as a team to accomplish a goal. Second, infinitely more important is the fact that this will turbocharge an already hot cannabis& hemp market.
Everyone focuses on the consumer but don’t forget all the investment, jobs and value that will be created in the process.It’s about the company that installs and maintains the greenhouse control system. The company that provides the greenhouse with all the services related to growing a crop. The company that supplies the products and the town where a bunch of new stores are going to pop up; restaurants, dry cleaners, clothing stores, airbnb’s and of course, coffee shops.
And let’s not forget about all workers who followed the VC’s and took company stock instead of cash hoping that the market would take off. You think they’re happy now?