Senators Ed Markey and Elizabeth Warren are advocating for cannabis reform that gives priority to areas that have suffered the most from the drug war and prevent monopolization by large corporations such as Amazon and major tobacco companies. During a dedicated event focused on fostering an inclusive cannabis industry, the senators expressed gratitude to activists for their unwavering support of minority-owned marijuana businesses. They also committed to championing policies that align with the intention of promoting equity.
In a recorded video aired during the ceremony, Warren stressed that legalization by itself is insufficient. She emphasized the significance of ensuring that the communities hardest afflicted by the drug war receive priority access to the advantages of legalization. She also argued in favor of legalization that does not give dominant organizations such as Big Alcohol and Tobacco or massive retail chains control over the market.
The senator expressed skepticism about Amazon’s lobbying efforts for marijuana legalization, viewing those efforts as potentially self-serving attempts to monopolize another market. Warren voiced concern that such actions could impede Latino and Black entrepreneurs from thriving in the emerging cannabis industry.
The senators’ statements were consistent with the main point of the “crash course” on cannabis policy provided by the Parabola Center for Policy and Law. The purpose of the event was to inform attendees of the potential negative effects of concentrated ownership in the cannabis sector.
Markey also spoke to the audience through a prerecorded video, admitting that the drug war had failed. He acknowledged the courage of the communities that endured disproportionate criminalization during the Prohibition era. Markey highlighted President Joseph Biden’s widespread marijuana pardon and Massachusetts’ initiatives to prioritize equity in its legal marijuana market as important advances in cannabis legislation across the country.
The Federal Marijuana Policy Crash Course also included marijuana regulators from Washington, D.C., New York City and Massachusetts, alongside representatives from prominent cannabis advocacy groups such as Marijuana Justice, Drug Policy Alliance, Doctors for Cannabis Regulation, Students for Sensible Drug Policy and Cannabis Regulators of Color Coalition.
Prior to the course, Parabola issued an “anti-monopoly tool kit” that outlined federal and state policy priorities aimed at preventing corporate consolidation, which could pose a threat to small marijuana businesses in the sector. In 2021, Parabola put forth changes to a House-passed bill legalizing marijuana on a federal level. The intended modifications aimed to create a fair market that enabled the communities most adversely affected by prohibition to profit from the new sector.
The institute had previously expressed worries about how the alcohol and cigarette businesses would affect federal cannabis reform. They asked politicians to rethink enacting marijuana laws that were modeled after alcohol laws.
It is encouraging that as discussions about what form federal marijuana legalization should take, emphasis is being placed on including as many people as possible in the industry. Such an approach could help to spread the benefits of legalization to a wider section of the population, and that could in turn make it easier for different companies such as Advanced Container Technologies Inc. (OTC: ACTX) to deepen their reach in different markets around the country, given that more growers will be participating in the 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.
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