Since 2012, more than 25 states have legalized recreational marijuana, and 38 have legalized medical.
However, this past election saw one of the smallest pushes towards legalization this country has seen. Only Nebraska succeeded in voting for a measure that allows for medical cannabis and a marijuana commission. North Dakota, South Dakota, and Florida took stabs at a recreational industry but ultimately failed.
With Donald Trump being elected President once again, the future of legalization efforts remains in the air. And this is largely because of Trump’s irregular patterns with marijuana efforts.
In 2018, he signed the Farm Bill which legalized all hemp production and ultimately made way for the abundance of CBD products to hit the States. Simultaneously, he denied the 2013 Cole Memorandum which would have prevented federal prosecutors from pursuing cannabis cases in legalized states. On top of that, he proposed revoking federal protections for state medical marijuana industries.
As you can see, Trump’s actions towards cannabis are too unpredictable. Naturally, this concerns us about the future of the cannabis industry.
Trump currently wants to reform the SAFE Banking Act (giving cannabis businesses access to federal banking) and reschedule the plant in the Controlled Substances Act. However, being his previous policy directions, it’s uncertain whether or not he’ll actually follow through with these efforts.
