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Don’t panic, legalization advocates say: Jeff Sessions’ anti-marijuana policy will have little practical impact and may even hasten the formal end of prohibition Now that the dust has settled around attorney general Jeff Sessions’ promise of harsher federal marijuana enforcement, advocates of legalization have largely exchanged their initial disappointment over the move for one of long-term optimism. “I think there was a knee-jerk reaction of something approaching panic, but once everyone calmed down, they’ve come to realize that practically this is going to have little impact,” said Patrick Moen, a former Drug Enforcement Agency (DEA) agent who now works as council to an investment firm in the nascent legal marijuana industry. Some, like Moen, even believe the decision could be the best thing for the growing marijuana movement, hastening the formal end of weed prohibition in the US. “There will probably a short term chilling effect, but this could ultimately be the best thing that’s ever happened to accelerate the pace of change,” Moen said. The markets have reflected this somewhat counterintuitive sentiment. The United States Marijuana Index, which tracks 15 leading publicly traded legal marijuana-related companies, initially dropped 21% on the heels of the Department of Justice (DoJ) announcement, but it turned out to be a blip. Why federal cannabis crackdown may be a blessing in disguise for legal weed

thumbnail courtesy of theguardian.com

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