The cannabis industry is bracing for potential shifts in federal policy as a new administration takes office. While the industry has seen significant growth and increasing state-level legalization in recent years, it remains in a precarious position due to the conflict between state and federal laws. The possibility of changes in federal policy has sparked both hope and concern among industry stakeholders.
Current Landscape
- Cannabis is legal for medical use in 36 states and for recreational use in 15 states, plus Washington D.C.
- At the federal level, cannabis remains a Schedule I controlled substance, creating legal and financial challenges for the industry.
- The industry has operated under a policy of federal non-interference in states with legalized cannabis, as outlined in the Cole Memorandum (rescinded in 2018) and subsequent congressional protections.
Potential Policy Changes
- Decriminalization: There is speculation about potential federal decriminalization of cannabis, which would remove criminal penalties for possession and use.
- Rescheduling: Moving cannabis to a lower schedule in the Controlled Substances Act could ease research restrictions and potentially allow for medical use at the federal level.
- Banking Regulations: The SAFE Banking Act, which would provide protections for financial institutions
The post Cannabis Industry Concerns Over Potential Federal Policy Changes appeared first on The Tech Edvocate.
