Oregon House passes bill to end hard drug decriminalization

There are many factors in setting drug policy, which often center around the benefits or detriments to a society and its economy. On one side stands regulation that can create new tax revenues, expand jobs, limit criminal behavior, and reduce costs related to enforcement. On the other side, arguments have been made for protections against addictive and dangerous substances, maintaining public order, and the adverse effects on mental health and innocent lives. Interestingly, many countries and regions are backpedaling on their recent decisions, which can have major impacts and effects on corporate bottom lines.

Smoking: New Zealand this week reversed a ban on tobacco sales to younger generations that was due to go into effect in July. The government repealed a law passed under former Prime Minister Jacinda Ardern's administration that would have banned people who were born after Jan. 1, 2009, from buying cigarettes for their entire lives. Health department officials said the coalition government was committed to reducing smoking, but planned on using different strategies instead of mandating the world's first smoke-free society. See related tobacco stocks here.

Weed: Thailand just announced that it would ban the use of recreational cannabis by the end of this year, citing the "negative impacts of misuse" and risks of "leading to other drugs in the long run." It's a big reversal for the first Asian nation that decriminalized pot, especially on a continent where many countries impose long prison terms or even death sentences for cannabis possession or trafficking. Around 20,000 Thai pot shops sprung up in recent years, in an industry that had been forecast to be worth up to $1.2B by 2025. Check out publicly-traded marijuana firms.

Hard drugs: Over three years after the first U.S. state decriminalized things like heroin, meth, cocaine and psychedelics, Oregon is getting some second thoughts. Governor Tina Kotek has declared a fentanyl state of emergency, while lawmakers are in the middle of repealing Measure 110, with opioid overdoses tripling since 2020. Currently, penalties are limited to citations with a maximum $100 fine, but the infractions could be avoided if a user attends a treatment screening or calls a hotline for addiction services. Discover some psychedelic industry players.