Republican Rep. to introduce cannabis legalization bill, Forbes says

Republican Representative David Joyce, who is a co-chair of the Congressional Cannabis Caucus, says he will file a bill “imminently” that, if passed, would amend the Controlled Substances Act to remove state-legal marijuana as a Schedule I drug, the same classification as heroin, Forbes’ Will Yakowicz reports. Marijuana grown and produced outside of the licensed market would remain illegal at the federal level, allowing states that do not want to legalize pot to keep prohibition in place, the author notes. The legislation has not yet been filed, but the draft is being called the “STATES 2.0 Act.” It is a “modernized” version of the STATES Act Joyce introduced in 2019. Publicly traded companies in the space include Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), Canopy Growth (CGC), Cronos Group (CRON), Goodness Growth (GDNSF), Green Thumb Industries (GTBIF), IGC Pharma (IGC), Tilray (TLRY), Trees Corporation (CANN), Trulieve Cannabis (TCNNF) and Zynerba (ZYNE).