It may sound obvious, but CNBC “Mad Money” host Jim Cramer expects another round of U.S. cannabis legalization in 2019.
“Nearly every time this gets put up for vote, legalization wins,” Cramer said, noting recent victories in Michigan and New York.
However, even if every state legalizes, cannabis would still remain illegal under federal law, he pointed out. But President Donald Trump’s Attorney General nominee, William Barr, has signaled that he won’t go after cannabis companies in compliance with state laws.
By extension, more lawmakers could jump on board, Cramer said: “I think Congress will be more willing to pass a law de-scheduling marijuana — did you know that, right now, marijuana is classified like cocaine or heroin? Isn’t that kind of crazy? As our politicians realize that this is actually a very popular, very mainstream position.”