The STATES Act, which would allow US banks to accept accounts from cannabis businesses in states that have legalized their line of work, passed by a wide margin in the Congressional finance committee vote today. Federal agencies such as the DEA would also be prohibited from enforcing federal laws against marijuana and CBD products in these states.
There is no word on when it will hit the floor for an up or down (or should that be sativa or indica?) vote. But if it does pass, the cannabis industry in the United States, as well as stock prices, will move to the next plateau.
The STATES Act and Mainstream CBD Sales are the Key Catalysts for Cannabis Stocks
At the same time, CBD is going mainstream, another indicator that we are on the verge of a leap forward. CVS and Walgreens drugstores began selling CBD products in US states where they are legal according to state law. CVS also manages Target stores, so they’ll be selling CBD soon. And even Walmart has announced plans to sell the products online, while looking into putting it on the shelves.
So stand by for blast off, folks, this train is bound for glory.
For more info, see my FaceBook group, Cannabis Stocks.