With The Marijuana ETF, Politics Matter | Page 2 of 2 | ETF Trends

The ETFMG Alternative Harvest ETF includes a hefty tilt toward Canadian companies, along with a smaller position in U.S. companies. Canada, which recently legalized marijuana for recreational purposes, has several dedicated cannabis ETFs trading there.

However, other developments in the U.S. remain more convoluted. While some states have legalized marijuana, helping mom-and-pop shops crop up around the U.S., the federal government still holds marijuana as a “schedule 1” drug, or the same category as heroin.

Booker’s “bill also aims to reverse the damage done to those who were prosecuted for marijuana use by expunging federal crimes and allowing offenders to petition courts for shorter sentences,” reports CNBC. “The sentencing reforms mirror those included in the landmark criminal justice bill that passed last December, known as the First Step Act, which Booker also sponsored.”

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