Economically, there’s never been a better time to invest in the marijuana industry. But despite the huge potential for profit, investors are often confused or hesitant to risk involvement in the legal medical marijuana business, and with understandable reason. The industry is a bit of double-edged sword. On the one hand, experts say the industry is poised to become wildly profitable, especially as legalization begins to seem more a matter of “when” than “if”; on the other hand, with marijuana still illegal at the federal level, it’s an industry with too many risks to justify the potential profits for many investors.
In recent weeks, though, it seems that the potential economic benefit of a legalized medical marijuana industry is beginning to tear down some of the political barriers which have, in the past, kept investors out of the game.
At the end of May, Congress made a decision — bipartisan, no less – that may change investors’ outlook on the marijuana industry. In a monumental move, Congress ruled to prohibit the Drug Enforcement Agency from conducting raids on medical marijuana patients as well as the growers and businesses that provide to them in states where the substance is legal.
It’s kind of a big deal. MSNBC notes that the House has never passed a measure that restricts the jurisdiction of the DEA before. The decision, an amendment which required 218 votes in order to pass, is a rare bipartisan decision in an era when it seems Congress can’t agree on anything.