What happened Wednesday night, Kamala Harris promised in the vice presidential debate that if elected, her and Joe Biden's administration "will decriminalize marijuana ... and we will expunge the records of those who have been convicted of marijuana." Shares of nearly every stock even vaguely related to pot jumped higher the next day. Tilray (NASDAQ: TLRY) was a particular outperformer, rising by 18%, while Cronos Group (NASDAQ: CRON) advanced 10%, and HEXO (NYSE: HEXO) increased 8%. Image source: Getty Images. So what While the potential vice president's quote is very encouraging for marijuana stock aficionados, we should note that Harris said "decriminalize" and not "legalize." There's a sharp distinction between the two. Legal goods can nearly always be bought and sold at will; that isn't necessarily the case with decriminalized products. The careful choice of word shows that even relatively progressive (would-be) top federal officials remain skittish about full, nationwide legalization. Rather, we can expect that gradual thawing will continue to come from the states rather than the Feds; next month, no less than five states will vote on sanctioning marijuana for medical and/or recreational use. Now what Meanwhile, let's keep in mind that even in 100% legalized Canada -- where Cronos, Tilray, and HEXO are all based -- the cannabis business has some tough challenges (supply issues, thriving black market competition, etc.). It's no wonder these companies frequently post losses. U.S. "decriminalization" isn't the magic wand that will wave all, or even any, of their problems away. Here's The Marijuana Stock You've Been Waiting ForA little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom. And make no mistake – it is coming. Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018. And one under-the-radar Canadian company is poised to explode from this coming marijuana revolution. Because a game-changing deal just went down between the Ontario government and this powerhouse company...and you need to hear this story today if you have even considered investing in pot stocks. Simply click here to get the full story now. Learn moreEric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy.Source