In a recent video, Gov. Gavin Newsom of California stated that he’d like to see cannabis legalized federally, so marijuana farmers in the state could legally supply the plant to the rest of the country. Under current federal prohibition, commercial exports of cannabis leaving California’s borders are deemed to be illegally trafficked goods.
The video was played at the Oakland International Film Festival, which was held in September 2022. During the festival, activists previewed a documentary on the cannabis reform movement’s local history, which featured the California governor.
Gov. Newsom thanked the advocates for helping the state legalize marijuana in 2016 as well as their leadership. He noted that while the state’s law needed to be improved upon, he looked forward to federal reform that would put an end to federal prohibition. The governor also stated that broader reforms needed to be accompanied by efforts to repair damage done to individuals, families and communities as a result of the war on drugs.
Interstate cannabis commerce will be profitable for the state of California, which has an ideal climate for outdoor growing and will help meet the demand for cannabis in other states.
The state’s governor recently signed a bill that would allow California to enter into agreements with other legal states, in anticipation of interstate commerce in the future. This ability will be set off under the measure once federal guidance or law allows it or if the state’s attorney general guarantees that interstate marijuana trade won’t bring about legal risk to California.
Many hope that permitting interstate commerce will help stamp out the illicit market by decreasing the demand for unregulated products and enabling cultivators to make a living legally.
Meanwhile, Newsom’s administration is praising the efforts of an illegal marijuana enforcement task force that the governor recently established. Thus far, the task force has seized and eradicated $15 million worth of illegal processed flower and cannabis plants, as per the latest state data.
Newsom also talked about marijuana equity, explaining that this would help maintain a diverse industry and level the playing field. For this purpose, officials in the state of California announced in October that the state would be awarding $20 million in grants funded by cannabis taxes to universities conducting studies on marijuana policy and science. This was publicized a few days after officials in the state announced that they’d be accepting applications for grants to support local efforts promoting equity in the cannabis industry.
If interstate commerce is allowed for the marijuana industry, a boom is likely to be experienced even by companies such as Advanced Container Technologies Inc. (OTC: ACTX) that don’t directly deal in marijuana but instead serve actors in the marijuana industry.
NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.CNW420.com
Do you have questions or are you interested in working with CNW420? Ask our Editor
CNW420 is part of the InvestorBrandNetwork.