Biden pardons thousands of people convicted of marijuana possession, orders review of federal pot laws

WASHINGTON -- President Joe Biden pardoned thousands of individuals convicted of possessing marijuana, sending cookware stocks soaring Thursday day connected the news.

The pardons use lone to national offenders arsenic good arsenic those convicted successful the District of Columbia, but Biden called connected governors crossed the state to travel suit.

"Just arsenic nary 1 should beryllium successful a national situation solely owed to the possession of marijuana, nary 1 should beryllium successful a section jailhouse oregon authorities situation for that reason, either," Biden said successful a statement.

More than 6,500 individuals with anterior convictions for elemental marijuana possession were impacted by the pardons, said the official, and thousands much done pardons nether D.C. law.

"There are thousands of radical who were convicted for marijuana possession who whitethorn beryllium denied employment, housing, oregon acquisition opportunities arsenic a result," Biden said. "My pardon volition region this load connected them."

In summation to the pardons, Biden said helium had instructed Secretary of Health and Human Services Xavier Becerra and Attorney General Merrick Garland to statesman reviewing however marijuana is classified nether national cause laws.

"The national authorities presently classifies marijuana arsenic a 'schedule one' substance, the aforesaid arsenic heroin and LSD – and much superior than fentanyl," said Biden. "It makes nary sense."

Pot stocks Tilray Brands and Canopy Growth each jumped connected the news, up astir 25% and 20%, respectively, successful day trading.

"Too galore lives person been upended due to the fact that of our failed attack to marijuana," said Biden. "It's clip that we close these wrongs."

This is simply a processing story, delight cheque backmost for updates.