Marijuana businesses brace for investment chill as U.S. changes policy

Marijuana businesses brace for investment chill as U.S. changes policySAN FRANCISCO/NEW YORK (Reuters) – Cannabis businesses across the United States said they are bracing for an investment slowdown following the U.S. Justice Department’s Thursday directive that will allow the enforcement of federal marijuana laws in states that have legalized the drug. U.S. Attorney General Jeff Sessions announced that the Justice Department was rescinding an Obama-era policy that eased enforcement of federal marijuana laws amid a wave of legalization in states from Alaska to Pennsylvania. “In the short term, this news will further scare away investors which will, in turn, slow down cannabis entrepreneurship,” said Nicolas Ruiz, co-founder of Cloudponics, a San Francisco startup that makes technology which can be used to grow marijuana.



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