Members of the House of Representatives voted 321 to 103 September 26th in favor of HR 1595: The SAFE Banking Act, which amends federal law so that explicitly banks and other financial institutions may work directly with state-legal marijuana businesses.
The future of Marijuana will be changing rapidly. The Federal Governments Patent on Marijuana runs out this year on April 21, 2019. Patent no. 6,630,507 enjoys it’s last day on April 20, 2019. (420!) Patent 6630507 link Yes, the federal government holds a patent for medical use of marijuana!
(The hypocrisy of one Government agency holding a patent for medical uses of marijuana at the same time another Government agency classifies Marijuana as a Class 1 drug stating there is no medical use for marijuana, is another debate.) That will spawn a new rush of patent filings by companies that have been involved in the business, but unable to file those patents. Many businesses will market new products for medical uses of marijuana without the fear of a patent lawsuit. This should provide an exponential increase in research and also increase the availability of Marijuana products in the medical market. Changing the legalization of Marijuana with also legitimize the market. The legitimization of the Marijuana business will provide revenue for governments with taxes, reduce medical insurance claims, free up resources in law enforcement and the courts, benefit patients, and hopefully remove the stigma of Marijuana. Review our Home page for more information on the published research and progress in other countries.
