420 with CNW — What the 2020 Marijuana Initiative Voter Successes Mean for Veterans

Despite the controversy surrounding its use, cannabis has proven itself to be an effective alternative to some pharmaceuticals. Chockfull of potent medicinal properties, cannabis is believed to treat numerous conditions such as chronic pain, anxiety, stress and insomnia. One group of individuals that could greatly benefit from medical marijuana but hasn’t always been given access would be veterans, as they are more likely to suffer from conditions such as anxiety, chronic pain and PTSD.

Despite its history, cannabis saw a couple of wins during the November 2020 elections. Fifteen states had already legalized adult cannabis use as of election night, and voters in Arizona, New Jersey and Montana approved measures to legalize adult use. Voters in South Dakota voted to legalize both recreational and medical marijuana while Mississippians approved medical marijuana.

According to Eric Goepel, founder and CEO of Veterans Cannabis Coalition, and Justin Strekal, political director of the National Organization for the Reform of Marijuana Laws (“NORML”), these wins will aid veterans in four ways.

Increased access to marijuana. Since the drug is illegal at the federal level, states had to opt into medical marijuana programs for their citizens, including veterans, to gain access to the drug. Veterans living in states that didn’t allow cannabis would either have to use pharmaceutical alternatives, putting them at risk of side effects and addiction, or practice cannabis tourism. But with voters in more states legalizing cannabis, veterans will have more access and, according to Goepel, they won’t have to deal with potential “gatekeeping” by local public health officials or doctors.

Reduced prices. As cannabis’ medicinal properties came to light, its demand skyrocketed. However, plenty of states classified it as a controlled substance, and the ones that had a legal cannabis market tended to have high barriers to entry, leading to a bottleneck in supply. As we know, high demand coupled with low supply usually leads to higher prices, and veterans sometimes had to pay hundreds of dollars a year in fees. With more cannabis cultivators, manufacturers and retailers in the market, Goepel says, veterans may be able to purchase cannabis at much cheaper prices.

Change in federal law. At the moment only 15 states in the entire United States have not legalized cannabis, and as more states jump on the bandwagon, there is less incentive for the federal government to continue classifying cannabis as a controlled drug. Leaders in the Department of Veteran Affairs have used this classification as reason against prescribing cannabis to veterans, and this will likely change in the face of federal legalization.

Reduced stigma. After decades of prohibition, marijuana has garnered a tainted reputation. But as more states legalize it and create programs to allow recreational and medical use, veterans will be able to access cannabis without any fear of social stigma.

A company that is deserving of your attention is Sugarmade, Inc. (OTCQB: SGMD). The California-based company has taken full advantage of the boom in cannabis delivery triggered by the current Covid-19 pandemic, and they are also setting up their own marijuana grow facilities.

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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CannabisNewsWire420
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