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Biden Signs Landmark Marijuana (Cannabis) Research Bill

Biden Signs Landmark Marijuana (Cannabis) Research Bill

With the scrawl of his pen, US President Joe Biden has changed the pathway to legalized cannabis. On Monday, November 28th, the President signed the marijuana research bill into law; it having cleared the House and Senate earlier in the year.

While a step in the right direction, do not get your hopes up for a fully-legalized cannabis plant anytime soon. The bill is structured in a way that allows for easier application for and greater access to large volumes of cannabis for the purpose of research.

This signature, and approval from House and Senate, is a monumental moment in the storied tale of cannabis in the USA. Historically, the ability to research the therapeutic benefits of cannabis has been extremely challenging, as only a finite number of facilities were approved to grow, purchase, and conduct research on cannabis. With limitations on who can access and research cannabis, findings were few and far between. The approval of the Medical Marijuana and Cannabidiol Research Expansion Act will make studying the effects of the plant far easier, and more robust. In the glow of this decision, relevant parties will be reviewing current and future research to determine if rescheduling (or de-scheduling) cannabis is the appropriate move for the United States.

Four of the Co-Chairs of the Congressional Cannabis Caucus offered this statement:

We celebrate the enactment of this critical and long-overdue legislation, and we know there is much more to do to remedy the ongoing harms of the failed war on drugs. Our caucus will continue working to reimagine the federal government’s approach to cannabis and enact further reforms. In the coming weeks, we are committed to passing subsequent bipartisan, common-sense proposals like the SAFE Banking package, the Veterans Equal Access Act, the PREPARE Act, and the Veterans Medical Marijuana Safe Harbor Act.

Of note, when news broke on Biden’s approval and signature, cannabis stocks began rising and global interest in cannabis within the US followed!

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