New Administration Signals Increased Interest in Cannabis
The White House is no longer shying away from the subject of cannabis reform. In an effort to address the injustices faced by those with previous possession convictions, President Joe Biden recently issued a blanket pardon for those with criminal records related to cannabis. This is an indication of the new administration’s willingness to move forward with cannabis reform, a marked shift from the policies of the previous administration.
The pardon was just one part of a wave of measures that the Biden administration has taken in the past few weeks to indicate its sincerity when it comes to cannabis reform. The White House recently convened a meeting with several state and local lawmakers to discuss the best methods to regulate the cannabis industry. A broad consensus was reached: adult-use cannabis must be legalized, taxes have to be fair, and ample licensing opportunities must be provided for small businesses wishing to enter the industry.
In a more local context, the state of Maryland recently surpassed expectations with its cannabis sales. In the first seven days of legalization, Maryland generated an impressive $5.3 million in sales. This is a positive sign that states are looking to cannabis as a reliable source of cash.
The increased interest in cannabis reform is definitely a step forward. However, there is still a long way to go before cannabis is fully legalized and regulated on a federal level. Although the recent pardon is great news, the bigger question remains: Will President Biden extend the pardon to individual states? Only time will tell.
In any case, the support of the new administration is a ray of hope for the cannabis industry. This executive action signals that the federal government is now more open to listening to the cannabis sector, and that the country is headed in the right direction when it comes to reform.
New Administration Signals Increased Interest in Cannabis
The White House is no longer shying away from the subject of cannabis reform. In an effort to address the injustices faced by those with previous possession convictions, President Joe Biden recently issued a blanket pardon for those with criminal records related to cannabis. This is an indication of the new administration’s willingness to move forward with cannabis reform, a marked shift from the policies of the previous administration.
The pardon was just one part of a wave of measures that the Biden administration has taken in the past few weeks to indicate its sincerity when it comes to cannabis reform. The White House recently convened a meeting with several state and local lawmakers to discuss the best methods to regulate the cannabis industry. A broad consensus was reached: adult-use cannabis must be legalized, taxes have to be fair, and ample licensing opportunities must be provided for small businesses wishing to enter the industry.
In a more local context, the state of Maryland recently surpassed expectations with its cannabis sales. In the first seven days of legalization, Maryland generated an impressive $5.3 million in sales. This is a positive sign that states are looking to cannabis as a reliable source of cash.
The increased interest in cannabis reform is definitely a step forward. However, there is still a long way to go before cannabis is fully legalized and regulated on a federal level. Although the recent pardon is great news, the bigger question remains: Will President Biden extend the pardon to individual states? Only time will tell.
In any case, the support of the new administration is a ray of hope for the cannabis industry. This executive action signals that the federal government is now more open to listening to the cannabis sector, and that the country is headed in the right direction when it comes to reform.
