The U.S. House of Representative is scheduled this week to take up legislation to legalize marijuana federally, a landmark step that could mark the first time a full congressional chamber has voted to end the federal government’s MJ prohibition.
The Marijuana Opportunity, Reinvestment and Expungement (MORE) Act would remove marijuana from the federal Controlled Substances Act and open up the industry to multibillion-dollar business opportunities and interstate commerce over time.
Despite a delay in the U.S. House of Representatives vote for a bill that would seek to legalize cannabis at the national level, the legal cannabis market in the U.S. still stands to substantially grow as more states plan to let voters decide whether they want to legalize it.
Roughly 1 in 3 Americans could have access to legal recreational marijuana if voters approve state ballot initiatives this November.
While a planned House vote on legalizing weed at the federal level is scheduled for later this month, the real action remains in the states. That’s because even if the House measure passes, there’s zero chance the Republican-controlled Senate will take up the bill, which would eliminate federal criminal penalties and erase some past marijuana convictions.
The MORE Act, a bill that would deschedule marijuana and thereby legalize it federally – with massive business implications – is scheduled to be considered by the full U.S. House of Representatives the week of Sept. 21, according to an email sent by House Majority Leader Steny Hoyer.
Hoyer, a Maryland Democrat, discussed the plans in a Monday email providing colleagues an update on the House floor schedule for September. On Friday, House leaders signaled a September vote but details were uncertain.
The House will vote on legalizing marijuana next month.
States would still have to vote to legalize the drug. Marijuana is already legal in 11 states.
The MORE Act would remove cannabis from the Controlled Substances Act and erase some cannabis criminal records. The vote will come during the September work period, according to an email Majority Whip Jim Clyburn’s (D-S.C.) office that was sent to members Friday.
The email also asked members to indicate if they would support the MORE Act by Sept. 3.
A congressional committee will debate two bills to federally legalize marijuana and several other pieces of cannabis research legislation next week, according to a briefing memo obtained by Marijuana Moment on Friday.
A House Energy and Commerce subcommittee is scheduled to hold a hearing on various reform proposals on Wednesday, with witnesses from the Drug Enforcement Administration (DEA), Food and Drug Administration (FDA) and National Institute on Drug Abuse (NIDA) set to testify.
For the first time in history, a congressional committee has approved a bill to end federal marijuana prohibition.
The House Judiciary Committee passed the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act in a 24-10 vote on Wednesday, setting the stage for a full floor vote.
The vote saw two Republicans—Reps. Matt Gaetz (R-FL) and Tom McClintock (R-CA)—join their Democratic colleagues in support of the bill.
Cannabis stocks rallied for a second day Wednesday, buoyed by a historic congressional committee passage of a bill that aims to lift the federal ban on weed, as well as strong gains for Curaleaf after it posted a narrower-than-expected third-quarter loss.
Curaleaf’s U.S.-listed shares CURLF, +15.23% CURA, +15.07% were last up 15%, as investors shrugged off its revenue miss.
This week, we will very likely have the first vote to outright end federal marijuana prohibition. The House Judiciary Committee has posted a markup for HR 3884, the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act on Wednesday, November 20th and they will likely hold a vote on the same day.
The House Judiciary Committee will hold a markup Wednesday on legislation to decriminalize marijuana federally and reassess marijuana-related convictions, the panel announced Monday.
Committee Chairman Jerrold Nadler (D-N.Y.) will join other House Democrats, including Reps. Barbara Lee (Calif.) and Earl Blumenauer (Ore.), on Tuesday to highlight the Marijuana Opportunity Reinvestment and Expungement (MORE) Act. Sen. Kamala Harris (D-Calif.) has introduced similar legislation in the Senate.