Thursday, June 13, 2024

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Those Who Invest in Marijuana Companies Are Not Welcome in Biden’s Administration

Some waves were made in the beginning of Biden’s run as president when it was revealed that having a positive test for marijuana in the system was grounds for getting fired and/or not hired in his administration.

Now, we’re seeing this negative view towards marijuana extended into the business realm. Per Politico, Biden’s employee conduct guidelines have been extended, and it is now possible not to receive security clearance if you have any investments in the marijuana industry.

The grounds for this are clearly laid out in the guidelines. Ultimately, it comes down to what they claim is “questionable judgment”.

“Eligibility may be negatively impacted if an individual knowingly and directly invests in stocks or business ventures that specifically pertain to marijuana growers and retailers. Decisions to willfully invest in such activity could reflect questionable judgment and an unwillingness to comply with laws, rules, and regulations.”

This is one of the clearer statements to shed light on the President’s views on marijuana, still grasping on the antiquated federal view of the plant as states across the country continue to expel this stigma.

As for which stocks this would include–it’s unclear. The generalization of this guideline is probably hoping to cast a very large net and scare off any potential future investments if one is looking to be a part of the federal government.

Read the full story at Politico.

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