Creso Pharma (ASX:CPH) shares up 30pc amid speculation on U.S. cannabis bill, page-430

The next month will be very interesting with a couple of key things that may trigger another boom in the share price, namely:

While the democrat majority US house of representatives voted to passed the US Federal Decriminalisation Bill it still has to pass the US senate. If the republicans win one or both senate runoff elections in Georgia next month then the republicans will retain its majority in the senate and it will unlikely pass the senate, however there were I think 5 republicans who voted for the bill in the house.

Having said that even if the senate does not pass the bill I would suggest it would be only a matter of time before public opinion changes this. Joe Biden is definitely pushing for legalisation and also of interest is the National Basketball Association (NBA) who released a statement announcing it would suspend random cannabis testing of its players for the 2020-21 season.

Because of the NBAs enormous influence in the US and abroad this carries pretty heavy significance and puts more pressure on the federal authorities.

It is also expected that over the coming weeks Australia will release important regulatory news regarding its potential rerating of medicinal CBD as an over-the-counter (OTC) product. I am assuming this will be announced through the TGA.

If we have positive news on both of these fronts then expect a sharp increase. Even if both don't eventuate its only a matter of time before both occur and we start to see legalisation occur not only in the US and Australia but the rest of the world.

With a worldwide legal and illegal cannabis market of an estimated $340 Billion this would be a boom to companies well placed such as Cresco to be the new "legal" cartels for cannabis