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U.S. could legalize cannabis federally on Biden win, Democrats taking over Congress 

The federal legalization of cannabis in the U.S. could arrive sooner than previously expected, Bloomberg News reports. CIBC analysts said in a recent report that the U.S. could legalize marijuana at the federal level as soon as 2021 if Joe Biden wins the presidential election and the Democrats control Congress. Legalizing cannabis could assist the U.S. with the economic fallout from the coronavirus and recent social unrest across the country. Cowen analysts expect that any legalization legislation will include social justice measures. Biden's cannabis policy proposes that the drug be rescheduled to a "schedule 2" drug rather than a "schedule 1."