June was a great month for medical marijuana.
Oklahoma passed a law making it the 30th state to legalize medical marijuana. A few short years ago, the state was home to some of the nation’s toughest marijuana laws.
Now, residents can have access after a doctor’s appointment.
And in New England, Vermont passed a law making it the ninth state to legalize recreational use.
But more important than either of these changes to state laws was a measure on the federal level.
A Huge Sign of Support
The Appropriations Bill for 2019 protects state rights for medical use.
A summary of the bill from the Senate had this to say: “Patients and doctors in states that have approved medical marijuana need to know that they are safe from arrest and prosecution by the federal government.”
The Republican Congress included this provision with little resistance. This is a huge sign of support from Congress.
With over half of all states open to medical marijuana, it won’t be long until it becomes federally legal.
The Road Ahead for Medical Marijuana
In a historic move, the Food and Drug Administration approved a cannabis-derived drug for rare childhood forms of epilepsy.
The Drug Enforcement Administration will consider reclassifying the treatment in the coming months. Marijuana is currently a Schedule I drug. The federal government technically considers it to hold no medical value.
Rescheduling will open the door to more medical research into marijuana. And that will be great news for patients and investors.
Opportunities in the Marijuana Industry
Allowing medical research will crack open the plant’s full potential.
Researchers can then isolate specific compounds and develop treatments.
According to The American Journal of Managed Care, the U.S. spent a combined $171.8 billion on medical research in 2016.
Reclassification of marijuana will unlock billions of dollars in research.
Real Wealth Strategist subscribers recently received a report highlighting the five best investments in medical marijuana. This report holds the best opportunities in the industry for investors.
Internal Analyst, Banyan Hill Publishing