The Miami Entrepreneur

Lawmakers file bill to allow cannabis companies to trade on Nasdaq and NYSE

Congressmen Troy A. Carter Sr. (D, La.) and Guy Reschenthaler (R, Pa.) on Thursday formally introduced a bipartisan bill that would allow legal cannabis companies to get loans and trade on U.S. stock markets. The Capital Lending and Investment for Marijuana Businesses (CLIMB) Act would help smaller, minority and veteran-owned businesses to pursue lending and investment opportunities already available to other domestic and regulated industries. The bill aims to “create a safe harbor for national securities exchanges to list the securities” of legal cannabis businesses, according to the measure. The AdvisorShares Pure US Cannabis ETF is down by 2.7% on Thursday and has fallen 57% this year.

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