19 US states have legalised recreational use of marijuana. Check list here

Nineteen US states have legalised the recreational use of marijuana, and 38 have permitted its medicinal use.

Agencies
Nineteen US states have legalised the recreational use of marijuana, and 38 have permitted its medicinal use.
Although federal law considers cannabis a Schedule I drug, as many as 19 states have approved the use of marijuana for recreational purposes, and 38 states have granted its medicinal use. Besides, five more states, namely Arkansas, Missouri, Maryland, North Dakota, and South Dakota, will vote on the recreational use of marijuana in November this year.

Earlier this month, United States President Joe Biden issued an executive order which pardoned all federal convictions related to simple marijuana possession. The US President also encouraged governors to take similar steps.

When will the US dollar peak? Here's your cue
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The US dollar may keep rallying until the current slowdown in the global economy is over and the growth starts to accelerate again, according to Citigroup. Until then, it is the 'safest place to hide', particularly as it offers a yield premium over its global peers.


The US dollar may keep rallying until the current slowdown in the global economy is over and the growth starts to accelerate again, according to Citigroup. Until then, it is the 'safest place to hide..
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The US Dollar index has gained 17% YTD and is headed for a record annual gain since 1972.


The US Dollar index has gained 17% YTD and is headed for a record annual gain since 1972.
Here's how dollar has moved over recent years: 2021- up 6.3% | 2020- down 6.8% | 2019- up 0.6% | 2018- up 6.2%

Here's how dollar has moved over recent years: 2021- up 6.3% | 2020- down 6.8% | 2019- up 0.6% | 2018- up 6.2%
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Strategists say relief remains a fair way off. Even a decision by the US Fed to slow rate hikes may not be enough to convince the majority of investors to sell the dollar, according to Citigroup.
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The 19 US states which have legalised the recreational use of marijuana are Washington, Virginia, Vermont, Rhode Island, Oregon, Nevada, New York, New Mexico, New Jersey, Montana, Michigan, Massachusetts, Maine, Illinois, Connecticut, Colorado, California, Arizona, and Alaska.

However, the US Drug Enforcement Agency continues to consider cannabis a Schedule I drug under the Controlled Substances Act of 1970. As per federal law, it has a "high potential for abuse," and there is no "accepted medical use" of cannabis. The law also treats heroin and LSD as Schedule I drugs. Notably, cocaine is classified as a Schedule II drug.

The Biden administration is pushing hard for decriminalising several aspects of cannabis, including possessing, growing, and distributing marijuana. The US government has also proposed two acts in this regard - Cannabis Administration and Opportunity Act (CAOA) and Marijuana Opportunity and Reinvestment Expungement (MORE) Act.
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FAQs


Under which category does cannabis fall according to US federal law?
The US federal law classifies cannabis as a Schedule I drug.

How many US states have legalised the recreational use of marijuana?
Nineteen states have legalised the recreational use of marijuana.

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