Cannabis - The Cole Memo Lives

Friends – in case you missed it, William Barr, AG nominee, testified at his confirmation hearing yesterday that he’ll go back to the Cole Memo guidance that Jeff Sessions rescinded (but really didn’t do much about). Indeed, he said that he’s not going to go after actors complying with state laws, and, although he doesn’t personally support Cannabis legalization, he recognizes that the Federal/state conflict doesn’t make any sense (gee!) and wants Congress to take action.  (link to article)  

Good news!  The path to Federal legalization just got a wee bit clearer, the industry just got a wee bit more legitimized, and (perhaps?) the window for Cannabis businesses to figure out their post-legalization positioning just got a wee bit smaller.

Now we just need our elected officials to do, well, something.

Excelsior!

Written by: Marc Hauser