Exclusive news and research on the wine, spirits and beer business

President Pardons Federal Cannabis Possession Convictions, Instructs DOJ And HHS To Review Marijuana Classification

October 7, 2022

President Biden yesterday pardoned all previous federal convictions for simple cannabis possession, and instructed the Justice and Health & Human Services departments to start a review of how cannabis is classified under federal drug laws. “I am urging all Governors to do the same with regard to state offenses,” the president stated. “Just as no one should be in a Federal prison solely due to the possession of marijuana, no one should be in a local jail or state prison for that reason, either.”

He noted that currently cannabis remains classified in Schedule I of the Controlled Substances Act. “We classify marijuana at the same level as heroin—and more serious than fentanyl. It makes no sense.” Cannabis stocks jumped as a result of the White House move, with Tilray, Canopy Growth, Curaleaf, and Green Thumb among others all up 20% to 30% for the day.—Daniel Marsteller

Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.

Tagged :

GET YOUR FIRST LOOK AT 2021 DATA AND 2022 PROJECTIONS FOR THE WINE AND SPIRITS INDUSTRIES. ORDER YOUR 2022 IMPACT DATABANK REPORTS. CLICK HERE.

Previous :  Next :