Obama's 'Hands Off' Marijuana Policy Put To The Test


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President Obama has said that although the federal government still classifies the possession or sale of marijuana as a criminal act, individual states will have the power to decriminalize the drug if they so choose.

However, the fractured laws have created some controversy regarding the legality of the marijuana industry, with many Americans becoming frustrated with the White House's "hands-off" approach.

Now, a lawsuit between states with conflicting marijuana legislation could force the President to take a side.

Border Issues

Colorado's legalization of recreational marijuana has come under fire from neighboring states Nebraska and Oklahoma, both of which still prohibit marijuana use.

The states have filed a lawsuit calling for the Supreme Court to reverse Colorado's marijuana legislation. Both say their law enforcement agencies have been under increased pressure to uphold federal marijuana laws, as more and more people illegally cross the border with pot they purchased in Colorado.

Obama To Weigh In

On Monday, the Supreme Court asked the White House for its view on the lawsuit, something that will add fuel to the growing debate on whether or not federal laws regarding marijuana should be amended.

So far, the President hasn't made any public comments regarding the case, but its outcome will likely have far reaching consequences for the push for marijuana legalization in the U.S.

 Image Credit: Public Domain

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


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Posted In: TopicsTop StoriesMarketsGeneralColoradomarijuana reformNebraskaOklahomaPresident Obama