Pres. Trump signals support for legislation easing USA ban on pot

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Senator Warren took to Twitter to promote the bill in a series of social media posts, writing that the "federal government's marijuana policies are broken, outdated, and disregard the rights of states like MA & CO that have taken their own thoughtful approaches". He backed down after he said Trump had agreed not to intervene in states that had legalized the drug, and said privately that he would support Garnder's legislation.

"I have talked to the president about this bill", Gardner said at a news conference. "But I probably will end up supporting that, yes".

California is now the world's largest legal recreational marijuana economy - created under a law that took effect this year - and is projected to grow to $7 billion in revenues.

Legal marijuana is expected to bring in over $6 billion in business.

The proposal's prospects in Congress were unclear. Majority Leader Mitch McConnell told Rolling Stone he still disagrees with attempts to legalize marijuana.

The bill would make the federal Controlled Substances Act not applicable in marijuana cases where someone is acting within the laws of their state.

In Ohio, medical marijuana is legal (although the program is not up and running yet), and there's an effort afoot to also legalize recreational marijuana.

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Asked if he supported the bill, Trump said: "I really do".

Republican Sen. Cory Gardner and Democratic Sen.

Gardner said the legislation would ensure Washington respects the will of voters in each state, whether laws provide for legalization or prohibition.

"Our Founders intended the states to be laboratories of democracy and many states right now find themselves deep in the heart of that laboratory". Elizabeth Warren of MA, said in a statement that Washington "needs to get out of the business of outlawing marijuana", according to AP.

California, home to one in eight Americans, launched the nation's largest legal marijuana marketplace on January 1 but thousands of businesses that have been licensed are still facing the threat of federal prosecution.

"The conflict between state and federal law on cannabis-related businesses has created significant legal and compliance concerns for financial institutions that could provide needed banking services to these companies", Rebeca Romero Rainey, president and CEO of the Independent Community Bankers of America, said in a statement Wednesday. In California, for example, paying taxes and other transactions are often carried out in cash, sometimes in vast amounts.

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