Congressional report highlights widening gap between federal, state marijuana policies

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The policy gap in how the federal governments and many states treat marijuana has been widening for more than 25 years with consequences for individuals, according to a Congressional Research Service report released this month.

Cannabis is still considered a controlled substance under federal law and is illegal to possess and use, yet many states have legalized it for medical use, adult use, or both.

The report, "The Evolution of Marijuana as a Controlled Substance and the Federal-State Policy Gap," noted that the gap "creates unique consequences for individuals who act in compliance with state law but violate federal law."

For example, individuals could lose their jobs due to marijuana use, could be unable to posses a firearm, and researchers could have difficulty investigating cannabis.

The report noted that if Congress removes marijuana as a controlled substance and criminal provisions as well, the policy gap between the federal government and states will narrow. Also, it could allow the U.S. banks to start doing business with cannabis companies.

Multi-state operators: Cresco Labs (OTCQX:CRLBF); Columbia Care (OTCQX:CCHWF); Trulieve Cannabis (OTCQX:TCNNF); Green Thumb Industries (OTCQX:GTBIF); Curaleaf Holdings (OTCPK:CURLF); MedMen Enterprises (OTCQB:MMNFF); Acreage Holdings (OTCQX:ACRHF); Ayr Wellness (OTCQX:AYRWF); Verano Holdings (OTCQX:VRNOF); and Jushi Holdings (OTCQX:JUSHF).

Senate Majority Leader Chuck Schumer (D-N.Y.) recently promised to introduce his marijuana legalization bill before the August recess.