Trump Administration Could Bring Positive Change for Cannabis Rescheduling in 2025
01/03/2025
The year is now 2025, and the cannabis industry is buzzing with speculation about how a new Trump administration might influence federal cannabis policy. Despite the mixed experiences of 2024, where significant strides were made in rescheduling cannabis, the sector faces persistent challenges such as banking issues and high taxation. However, there's a glimmer of optimism among industry leaders regarding the future under Trump's potential second term.
The year 2024 has been a rollercoaster for the cannabis industry in the United States. While progress was noted in the rescheduling efforts, setbacks included the failure of legalization measures in Florida and ongoing issues with banking and taxation. The political landscape shifted dramatically with Trump's election, casting doubts but also sparking hope for a more favorable regulatory environment.
Christina Betancourt Johnson, founder and CEO of Standard Wellness Maryland, highlighted the rising demand for mental health solutions through cannabis, suggesting that despite political resistance, the need for such remedies would continue to drive industry growth. Jason Wild, executive chairman of TerrAscend, expressed cautious optimism, pointing to potential opportunities through the courts, particularly with cases regarding state rights, which might be viewed favorably by a conservative-leaning Supreme Court.
Morgan Paxhia, co-founder of Poseidon Investment Management, sees a dual effect from Trump's policies. He anticipates that Trump's administration could introduce a new dynamic in cannabis regulation, possibly through strategic cabinet appointments like Robert F. Kennedy Jr. at the Department of Health and Human Services, which could push forward rescheduling efforts. Additionally, an Attorney General like Pam Bondi might draft policies allowing more state autonomy in cannabis regulation, potentially easing access to banking and investment for cannabis businesses.
Wendy Bronfein from Curio Wellness emphasized the need for a smarter federal regulatory framework, pointing out the logistical nightmares caused by the current state-by-state regulatory discrepancies. The industry hopes that under Trump, these fragmented laws could see harmonization, leading to a more cohesive national policy on cannabis.
While the past has shown that political changes can bring uncertainty, the cannabis sector seems ready to navigate these waters with cautious optimism, looking towards 2025 as a year where significant regulatory changes could redefine the industry's trajectory.
Reference
The year 2024 has been a rollercoaster for the cannabis industry in the United States. While progress was noted in the rescheduling efforts, setbacks included the failure of legalization measures in Florida and ongoing issues with banking and taxation. The political landscape shifted dramatically with Trump's election, casting doubts but also sparking hope for a more favorable regulatory environment.
Christina Betancourt Johnson, founder and CEO of Standard Wellness Maryland, highlighted the rising demand for mental health solutions through cannabis, suggesting that despite political resistance, the need for such remedies would continue to drive industry growth. Jason Wild, executive chairman of TerrAscend, expressed cautious optimism, pointing to potential opportunities through the courts, particularly with cases regarding state rights, which might be viewed favorably by a conservative-leaning Supreme Court.
Morgan Paxhia, co-founder of Poseidon Investment Management, sees a dual effect from Trump's policies. He anticipates that Trump's administration could introduce a new dynamic in cannabis regulation, possibly through strategic cabinet appointments like Robert F. Kennedy Jr. at the Department of Health and Human Services, which could push forward rescheduling efforts. Additionally, an Attorney General like Pam Bondi might draft policies allowing more state autonomy in cannabis regulation, potentially easing access to banking and investment for cannabis businesses.
Wendy Bronfein from Curio Wellness emphasized the need for a smarter federal regulatory framework, pointing out the logistical nightmares caused by the current state-by-state regulatory discrepancies. The industry hopes that under Trump, these fragmented laws could see harmonization, leading to a more cohesive national policy on cannabis.
While the past has shown that political changes can bring uncertainty, the cannabis sector seems ready to navigate these waters with cautious optimism, looking towards 2025 as a year where significant regulatory changes could redefine the industry's trajectory.
Reference
