The election of Joe Biden is not only good news for potheads and medical cannabis users stateside. Canada’s legal cannabis producers, which saw their stock prices soar on the heels of Biden’s win, are rejoicing, too.
Biden’s promise to decriminalize cannabis at the federal level has sparked a rush of optimism among Canadian producers. Sixteen states and the District of Columbia have already legalized cannabis. Another 26 states have decriminalized cannabis for medical purposes.
New Jersey, Arizona, Montana, Mississippi, and South Dakota were added to the list on election night on November 3. Each of those states passed measures to either fully legalize, decriminalize or allow cannabis for medical purposes.
The U.S. elections were also big news for Canada’s mushrooming psychedelics sector. In Oregon and D.C., voters passed measures to decriminalize the growth and sale of plant-based psychedelics.
Oregon’s Measure 109 will allow the growth and sale of psilocybin…