Curaleaf Stock Will Surge If Schumer's Marijuana Bill Passes

Federal decriminalization could bring triple-digit gains to the marijuana industry in the next year. And Curaleaf stock will be a key beneficiary.

A years-long push for marijuana continues at the state and local level, likely informing the federal decision-making we see today. 

Andrew Yang, a potential candidate for the New York City mayoral seat, recently voiced his strong support for marijuana legalization.

North Dakota's Senate also recently passed a marijuana legalization bill in their state.

Of course, there is still some pushback. The North Dakota bill is more restrictive, by design, than the initiative activists are trying to get to the floor in 2022 – it does not allow home-growing of the marijuana plant.

This kind of in-fighting is likely to happen at the state level for a while, making for a constant ebb and flow in cannabis stocks.

What's happening federally, however, is going to have a far greater impact on the status of marijuana in the United States than anything else. It could push them sky-high for good.

Let's talk about this bill, and then why Curaleaf is poised to benefit from its passage…

This Law Will Legalize Marijuana Nationwide

The Marijuana Opportunity Reinvestment and Expungement (MORE) Act of 2020 passed the House in December.

It was at first blocked by key Senate members. But with a new Senate following the election cycle, it appears more likely to go through.

Senate Majority Leader Chuck Schumer linked arms with Senator Cory Booker and Ron Wyden in February to say they were moving forward with the comprehensive marijuana reform legislation.

Lawmakers say the legislation is primarily geared toward "restorative justice" and "public health," tackling both the current criminalized status of marijuana and the medical potential of the plant.

It will free marijuana from being listed with heroine and LSD as a "Schedule I" drug. It will also help expunge prior marijuana convictions.

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