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Rand Paul Becomes First Presidential Candidate to Court Pot Industry

Ryan Allway

July 1st, 2015

Policy, Top News

Republican Presidential Candidate Rand Paul recently addressed a “private briefing” of cannabis businesses and activists and Colorado’s second annual Business Summit and Expo in Denver, where he became the first candidate in history to accept donations from the cannabis industry.

According to the National Cannabis Industry Association, which organized the summit, attendees could donate $2,700 for attendee status, $5,400 for sponsor status, or $10,400 for host status, with all checks made out to the “Rand Paul Victory Committee”. The invitation indicated that Paul would talk about his stance on several issues facing the cannabis industry, including federal regulations and access to the banking sector, among other things.

Paul has been one of the most outspoken critics of the War on Drugs and a supporter of state-level marijuana laws without federal interference, legalizing medical cannabis nationally, and permitting cannabis-related businesses to access banking services. These opinions have come in stark contrast to many other Republican candidates, including some that have vowed to repeal state-approved marijuana programs if they’re elected into office.

In the Senate, Paul joined with Democrats to support a bill that would loosen federal restrictions on medical marijuana in states where it is legal and open access to banking for medical and recreational marijuana businesses alike. When asked whether he would have voted in favor of Colorado’s recreational marijuana legalization, he sidestepped the question but noted that he things the federal government ought to stay out of any decisions.

Supporting the cannabis industry could give Paul an edge in a tight Republican race that’s frothy with competition. In addition to the campaign contributions, he could gain the support of cannabis political action committees that have extensive reach throughout the media and various levels of federal and state governments. He is also the only candidate that has voiced such open support for the industry, which could make him an obvious choice for the industry.

The Denver event attracted over 200 supporters, while the broad appeal could attract wider national attention from industry participants.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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