Pot Stocks Tumble After Jeff Sessions Rescinds Policies Allowing States To Legalize Pot
by Tyler Durden
ZeroHedge.com
Thu, 01/04/2018
Just days after California started selling recreational marijuana to anyone over the age of 21, Attorney General Jeff Sessions has announced plans to rescind policies that have allowed states to circumvent federal laws and legalize the drug. According to the Associated Press, the move by Sessions will require U.S. attorneys where pot is legal to decide whether to aggressively enforce federal marijuana law.
Attorney General Jeff Sessions is going after legalized marijuana. Sessions is rescinding a policy that had let legalized marijuana flourish without federal intervention across the country.
That’s according to two people with direct knowledge of the decision. They were not allowed to publicly discuss it before an announcement expected Thursday and spoke on condition of anonymity.
The move will leave it to U.S. attorneys where pot is legal to decide whether to aggressively enforce federal marijuana law. The move likely will add to confusion about whether it’s OK to grow, buy or use marijuana in states where it’s legal, since long-standing federal law prohibits it.
This is not great news for the folks that have plowed roughly $158 million into the weed ETF over the past week. Following the report, pot stocks have tumbled on sudden crackdown fears.
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