USA Today reverses course and calls for End of Cannabis Prohibition

The USA Today editorial board has reversed its past position on cannabis and come out in support of ending cannabis prohibition.

While the newspaper flagged potential health problems caused by cannabis use, it argued that the "misguided war on drugs" continues to inflict harm on black and brown communities in the U.S. "Given the risks associated with marijuana, the nation needs the federal government to shift its posture from prohibition to regulation," the July 31 editorial said.

The article urged Congress to take action. The stand marks a policy reversal by the newspaper in editorials published in 2012, 2016 and 2018. The AdvisorShares Pure US Cannabis ETF MSOS, +3.95% is down 53.8% in 2022, mostly on bearish sentiment around U.S. legalization. The Nasdaq COMP, -0.16% has lost 21.1% of its value this year.