Please ensure Javascript is enabled for purposes of website accessibility

Sen. Elizabeth Warren Unveils Her Cannabis Legalization Plan

By Eric Volkman – Updated Feb 25, 2020 at 1:31PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Democratic presidential hopeful says its time to fully legalize marijuana, and lays out her policies to do so in detail.

Massachusetts Sen. Elizabeth Warren, a longtime advocate for marijuana law reform, has formally spelled out her position on legalization. In a detailed web post titled "A Just and Equitable Cannabis Industry," she enumerated the various measures she would support if elected president, including actions she would take unilaterally if necessary.

Elizabeth Warren

Image source: ElizabethWarren.com

Sen. Warren categorically states that full legalization is needed in the U.S. "as soon as possible." Her intention is to remove marijuana from the list of scheduled drugs under federal law, and to expunge previous convictions for cannabis-related offenses. 

Other elements of the senator's plan include protecting immigrants who work in the cannabis industry, funding new research into cannabis, and allowing sovereign Native American tribes to determine their own laws regarding the drug's use and sale within their lands.

Were she to be elected president and turn even some of these goals into policies, it goes without saying that the marijuana industry would benefit enormously -- perhaps cannabis companies would become habitually profitable.

Although the largest publicly traded marijuana companies are based in Canada, there are numerous U.S.-headquartered ones that would be positioned to profit handsomely from legalization. For example, Curaleaf (CURLF -7.14%) is a leading multistate operator of cannabis dispensaries, and will shortly expand its footprint with its buyout of the Grassroots brand (Curaleaf and Grassroots agreed on the acquisition last year, but the deal has still yet to close).

Marijuana stocks could use the boost: They've performed poorly as a class over the past year or so, and took sharp hits during Monday's broad market plunge. That day, Curaleaf's stock price fell by almost 6%.

 

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Curaleaf Holdings, Inc. Stock Quote
Curaleaf Holdings, Inc.
CURLF
$5.20 (-7.14%) $0.40

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
329%
 
S&P 500 Returns
106%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/26/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.