Companies With a Stake in the Marijuana Debate Receive More Good News as Feds Stand Down

NEW YORK, NY--(Marketwired - Sep 5, 2013) - The debate to legalize marijuana in this country cleared another hurdle late last week when U.S. Attorney General Eric Holder reached out to the governors of both Washington and Colorado. Holder told both that the Justice Department would not, for now, stand in the way of those states' laws, which followed voters' approval of ballot measures that legalized recreational marijuana use. 

Although the drug will remain illegal and considered a federal crime under the Controlled Substances Act, Holder has instructed his department to stand down. In the call to both governors, Holder did make it clear that he would focus federal enforcement on serious trafficking cases and keeping the drug away from children.

This is good news to those closely watching the debate like publicly traded companies with shareholders excited about each new development that drives the industry closer to generating revenues in legally accepted practices. 

Public companies involved in research like biotech and pharmaceutical firms, Nuvilex, Inc. (OTCQB: NVLX) and Cannabis Science, Inc. to companies with dispensaries like Medical Marijuana, Inc. to those companies making products including nutraceuticals like Hemp, Inc. all benefit from each hurdle cleared in this marijuana debate.

Nineteen states and Washington, DC allow some legal use of marijuana, primarily for medicinal purposes, but both Washington and Colorado have taken that legalization a step further after voters approved a measure allowing for the drug's recreational use.

Washington's Governor, Jay Inslee, said after the call, "We received good news this morning when Attorney General Eric Holder told the governor the federal government would not pre-empt Washington and Colorado as the states implement a highly regulated legalized market for marijuana."

The debate is shifting, and maybe dramatically so, in favor of more acceptance at every level. For those companies that represent the medical marijuana side of the debate, patients will be the winner as there is no such thing as too much research or too many remedies for pain relief.

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