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Biden admin to applicants: Maybe don’t invest in weed companies

The new policy underscores how the business of weed, ever more legitimized, is forcing adjustments by the feds.

Smoking weed may no longer be the only potential impediment to getting a job with security clearance in the Biden administration. Investing in cannabis companies could now trip up applicants, too.

The Biden administration has expanded its employee conduct guidelines to potentially deny security clearance to individuals who have invested in companies that are involved in the marijuana business, according to an internal executive branch presentation shared with POLITICO.

“Eligibility may be negatively impacted if an individual knowingly and directly invests in stocks or business ventures that specifically pertain to marijuana growers and retailers,” according to the document. “Decisions to willfully invest in such activity could reflect questionable judgment and an unwillingness to comply with laws, rules, and regulations.”

The recently updated guidance is the latest illustration of the federal government trying to grapple with its cannabis-related HR policies as the product has become an accepted legal business, medication and recreational substance in states across the country. All told, 37 states, the District of Columbia and some territories have legalized cannabis for medical or recreational use. [Read More @ Politico]

This Post Has 2 Comments
  1. It is absurd for this administration to target individuals who invest in the cannabis industry. Stating these individuals could have “questionable judgment and an unwillingness to comply with laws, rules, and regulations” is, in and of itself, questionable judgement. Investing in companies, some of which are on the NASDAQ and all of which are legal within the states they serve, does not in any way illustrate a lack of judgement. The basic requirements for security clearance are U.S. citizenship, and a background investigation of employment, education, financial, personal and travel history. There is no IQ test, no test identifying an individual’s understanding of the constitution, or any other aspect of laws by which our government operates.

    If “questionable judgement” of investments is a qualifier for security clearance, why target cannabis? Should anyone who invested in Enron be stripped of their clearance? How about those who invested in Shutterstock, Refco, Texaco, Chrysler, and/or GM. Some might interpret those investments as questionable. If the qualifier of “questionable”, as related to cannabis investing, is based on it not being federally legal, then how does the government account for cannabis companies on the NASDAQ? Further, why restrict access to these stocks from individuals who desire security clearance? If the qualifier of “potentially” is an evaluation criterion between NASDAQ companies vs direct investing in non-NASDAQ companies, or any other interpretive evaluation, it would appear the government is providing favoritism, which illustrates questionable judgement. As a note, on February 4, 2022, Senate Majority Leader Chuck Schumer publicly stated that he and his team are prioritizing getting federal marijuana reform on the Senate floor within the coming months, targeting April 2022 as the timeline. With this legislation forthcoming it would seem questionable not to invest in cannabis.

  2. Be realistic people. Until the Federal Government legalizes marijuana, which is driven by Senators who are voted into power by we the people, the Biden administration has no choice but to follow the law, as they swore to follow the Constitution of the United States.

    They are not targeting marijuana users or investors. The Federal government must in the best interest of Americans, uphold the law, even if we disagree with it, they have no choice and we demand that they not have a choice. It’s that simple.

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