The cannabis industry could be in for a big boom during the Trump presidency as California, Nevada and Massachusetts join an ever growing list of states that have chosen to legalize marijuana for recreational purposes. This coupled with the fact that Trump has previously said that he 100% supports medical marijuana on a federal level, this could mean we are in for a huge change in regards to cannabis legislation in the next four years.
Trumps Stance On Cannabis
While Trump has previously stated that he would not personally legalize marijuana on a federal level for recreational purposes he did say that he would not meddle in a states affairs if they did choose to go down the path of full blown legalization.
This is a huge improvement from the Obama era during which there were frequent raids on dispensaries which broke federal law even though they were complying with their local state laws. This was partly due to the fact that Obama was not able to reign in the out of control DEA, Trump on the other hand has previously stated that he fully opposes the war on drugs as he believes the current strategy involving law enforcement is simply not working well enough.
He also sees the potential for huge savings which could be made if the government did not have to continue the war on drugs. This would benefit him greatly as he is going to need all the money he can get his hands on to build this huge wall of his.
Trump v Clinton
Clinton on the other hand has always sat on the fence when it comes to her marijuana policy letting her views be swayed by the will of the people, she herself believes that marijuana should only be used medically in a very small amount of cases but then in a recent attempt to pander to young disenfranchised voters she suggested that she would be willing to remove cannabis from the schedule one category.
But newly released emails reveal a strikingly different “private” position on making cannabis legal. In an onstage Q & A session from 2014, Clinton talked with Xerox CEO Ursula Burns. In that conversation, Hillary used “Wall Street terminology” to express her strong opposition to legal pot. Some suggest this is precisely because of the close ties between Wall St. bankers and Big Pharma. Those companies consider legal marijuana a major threat to their profits.
Burns asked Clinton to respond with “long” or “short” to a series of questions. In this case, “long” means support and “short” means oppose. So when Burns asked, “legalization of pot?” Hillary responded, according to the transcripts, “Short in all senses of the word.”
In other words, in private conversations with major backers, Clinton has taken a strong stance against marijuana legalization which was evidently not overlooked by the voters on election day. Overall Clinton was probably the best candidate to take USA forward however the public chose Donald Trump, if you don’t like it at least you can get stoned legally for the next 4 years to help you cope.
Industry and Expert Opinions
Leaders in the cannabis industry generally express cautious optimism about the future under Trump. Many are encouraged by the administration’s acceptance of state-level legalization efforts. Experts advise cannabis businesses to stay informed about legal changes, engage in advocacy, and build strong compliance programs.
State vs. Federal Perspective
The dynamic between state and federal laws remains a complex issue. While more states are moving towards legalization, cannabis remains illegal under federal law. This creates a precarious situation for businesses operating legally at the state level but still facing potential federal legal challenges.
Conclusion
As the Trump presidency unfolds, the cannabis industry has the potential to continue its rapid growth, provided it remains vigilant and adaptable to the evolving political climate. Stakeholders should remain engaged with political developments and ready to adapt to new regulations or policies.
FAQs
How can cannabis businesses prepare for sudden policy changes? Businesses should focus on compliance, have legal counsel ready, and engage in industry advocacy to protect and promote their interests.
What should potential investors know about the cannabis market under Trump? Investors should understand the legal risks, recognize the signs of market saturation in some states, and consider the long-term growth potential of the industry as more states move toward legalization.
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