Legislation to Legalize Cannabis Nationwide Introduced
July 16, 2021
WASHINGTON - U.S. Senators Cory Booker (D-N.J.), Ron Wyden (D-Ore.), and Chuck Schumer (D-N.Y.) have introduced the Cannabis Administration and Opportunity Act that will legalize cannabis nationwide and present opportunities for people of color to participate in the industry.
Several tribes and Native-owned business enterprises are entering the cannabis industry.
The cannabis industry, which employs over 320,000 workers and generated over $17.5 billion in sales in 2020, also presents a significant opportunity for economic empowerment. The industry saw 32 percent growth in 2020 as well. By 2025, it is estimated that the cannabis industry could have nearly $45.9 billion in annual sales.