After a long and tumultuous campaign, the most important election in modern American history has come to an end. Former President Donald Trump won his second term in the White House election by defeating Vice President Kamala Harris on platforms such as supporting state-level marijuana legalization and limited federal marijuana reform. The new government’s forecast for the future of marijuana is beginning to settle.
In addition to Trump’s unexpected overwhelming victory and his mixed record in supporting marijuana reform, many states have held crucial votes that will have a significant impact on the US marijuana business.
Florida, Nebraska, North Dakota and other states held votes to determine key measures regarding medical and non-medical marijuana regulation and reform.
Donald Trump has now become the second person in American history to be re elected as president after losing an election, and he is expected to become the first Republican to be re elected since George W. Bush in 2004.
As is well known, marijuana reform is playing an increasingly important role in this year’s presidential election, and the movement by current President Biden to reclassify marijuana at the federal level has also begun, which is now about to enter the hearing stage.
Vice President Kamala Harris has taken the reform promises of her predecessor one step further and promised to achieve federal legalization of marijuana once elected. Although Trump’s position is more complex, it is still relatively positive, especially compared to his stance in previous elections.
During his first term, Trump made limited comments on marijuana policy, temporarily supporting legislation that allows states to develop their own policies, but did not take any administrative action to codify the policy.
During his tenure, Trump’s most impressive achievement was signing a large-scale federal agricultural bill, the 2018 U.S. Farm Bill, which legalized hemp after decades of bans.
According to media reports, the vast majority of voters in key swing states support marijuana reform, and Trump’s press conference at Mar-a-Lago in August unexpectedly hinted at support for decriminalizing marijuana. He said, “As we legalize marijuana, I agree even more with this because you know, marijuana has been legalized all over the country
Trump’s remarks marked a change from his previous tough stance. He had called for the execution of drug traffickers as part of his 2022 re-election campaign. Looking back at the current situation, Trump pointed out, “It’s too difficult now that prisons are filled with people who have been sentenced to prison for legitimate things
A month later, Trump’s public expression of support for Florida’s marijuana legalization voting initiative surprised many people. He posted on his social media platform Truth Social, stating, “Florida, like many other approved states, should legalize adult possession of marijuana for personal use under the Third Amendment
The Third Amendment aims to legalize the possession of up to three ounces of marijuana by adults aged 21 and above in Florida. Although the majority of Floridians did vote in favor of the measure, it did not meet the 60% threshold required to pass a constitutional amendment and ultimately failed on Tuesday.
Although this support ultimately did not yield any results, this statement contradicts his previous remarks and the strong opponent of marijuana reform, Florida Republican Governor Ron DeSantis.
Meanwhile, in late September, Trump also expressed support for two ongoing and crucial marijuana reform measures: the Biden administration’s stance on marijuana reclassification and the long-awaited Safe Banking Act that the industry has been trying to pass since 2019.
Trump wrote on Truth Social, “As President, we will continue to focus on researching unlocking the medical use of marijuana as a Schedule III substance and working with Congress to pass common sense laws, including providing safe banking services for state authorized marijuana companies and supporting the right of states to pass marijuana laws
However, it remains to be seen whether Trump will fulfill these promises, as the industry has mixed reactions to his recent victories.
If President Trump intends to respect overwhelming support for marijuana reform, we expect him to choose a cabinet that is prepared to take action on federal legalization, banking reform, and veterans’ access. Based on his appointment, we will be able to gauge how seriously he will take his campaign promises, “said Evan Nisson, a marijuana legalization advocate and CEO of NisnCon
Somai Pharmaceuticals CEO Michael Sassano added, “The Democratic Party has long used marijuana as a political bargaining chip.
They had a full opportunity to control the three branches of power, and they could have easily turned the tide by reclassifying marijuana through DEA. Trump has always stood on the side of business, unnecessary government spending, and even pardoned many marijuana violations. He is most likely to succeed where everyone has failed, and may reclassify marijuana and provide safe banking services
David Culver, Senior Vice President of the American Cannabis Association, also expressed optimism, stating, “With President Trump returning to the White House, the marijuana industry has ample reason to be optimistic. He has expressed support for the Safe Banking Act and marijuana reclassification, committed to protecting consumer safety and preventing youth exposure to marijuana. We look forward to working with his administration to advance meaningful federal reforms
According to a YouGov poll conducted on 20 different industries, overall, voters believe that Trump is more favorable for 13 out of 20 industries, including the marijuana industry.
It is uncertain whether Trump’s statement will translate into action to reform legislation after taking office in January next year. The Republican Party has regained its majority in the Senate, while the political composition of the House of Representatives remains to be determined. In fact, the President’s unilateral power to amend federal marijuana laws is limited, and Republican congressmen have historically resisted marijuana reform.
Although people were surprised by Trump’s sudden shift in stance on marijuana, the former president had advocated legalizing all drugs 30 years ago.
In fact, like any election, we cannot know to what extent the winning candidate will fulfill their campaign promises, and the issue of marijuana is no exception. We will continue to monitor.
Post time: Nov-14-2024