House passes cannabis research measure

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The U.S. House of Representatives late Tuesday passed the Medical Marijuana and Cannabidiol Research Expansion Act (H.R. 8454) by a vote of 325 to 95. Introduced on July 21 by Reps. Earl Blumenauer – a Democrat from Oregon, and Andy Harris, a Republican from Maryland – the measure resembles Senate Bill 253 passed by the Senate in April, according to an article by the National Organization for the Repeal of Marijuana Laws (NORML). Harris, who is not in favor of cannabis legalization, supports more studies of the plant’s medical benefits. A Senate version of the bill is expected to be taken up shortly, according to a report by Marijuana Moment. The bill then would be the first standalone cannabis reform measure to reach the desk of a U.S. president, according to the report. The AdvisorShares Pure US Cannabis ETF MSOS, +0.33% is down 65.4% in 2022, compared to a loss of 21.1% by the Nasdaq COMP, +1.63%.

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