Pot stocks surge on news Trump favours giving states latitude on legalization

Pot stocks surge on news Trump favours giving states latitude on legalization

"Late Wednesday, I received a commitment from the President that the Department of Justice's rescission of the Cole memo will not impact Colorado's legal marijuana industry", said Gardner in a statement on Friday.

"Since the campaign, President Trump has consistently supported states' rights to decide for themselves how best to approach marijuana", Senator Gardner said in a statement.

Gardner said he had lifted some holds earlier this year after "positive discussions with the DOJ" but that with Trump's assurances, he would be lifting all remaining ones.

This story is developing and will be updated.

Gardner, whose state legalized recreational marijuana in 2014, threatened to block all Justice Department nominees after Sessions' January memo.

The announcement has potential implications for all states with or considering legalized marijuana, as Trump also said he would support legislative solutions to solidifying cannabis policy as a state-by-state issue, not a federal one.

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Senator Cory Gardner, Trump's fellow Republican whose state has some of the most permissive marijuana laws in the country, had blocked Senate confirmation of Justice Department nominations to force the change.

"The President did speak with Senator Gardner yesterday and again today", Ms. Huckabee Sanders told reporters on Friday at the White House, adding, "the President is a firm believer" in states' rights. I might believe it if he ordered Sessions to reinstate the DOJ guidance on the matter that is consistent with this promise and orders the DEA and federal prosecutors not to investigate or prosecute anyone for a marijuana-related action that is legal in the state in which it took place. Attorney General Jeff Sessions instead directed us attorneys to use prosecutorial discretion.

"Clearly, we've expressed our frustration with the delay with a lot of our nominees and feel that too often, senators hijack a nominee for a policy solution", Short said. But the Journal's sources say Trump wants the top Justice Department officials gone anyway: "Eventually, it will happen", a source said.

Mr. Sessions, on the other hand, has been an outspoken opponent of state marijuana laws.

Sens. Orrin Hatch, R-Utah, and Kamala Harris, D-Calif., wrote to Sessions this week, urging him to back off efforts to curtail medical marijuana research at the Drug Enforcement Administration.

Earlier this week former house speaker John A. Boehner said he is joining an advisory board for a cannabis company, Acreage Holdings.

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