Breaking: Trump Backs Cannabis Rescheduling And Banking Access
Breaking: Trump Backs Cannabis Rescheduling And Banking Access
Annoucement arrives before Tuesday's debate.
Former President Donald Trump says he supports federally rescheduling marijuana and opening up access to banking services for businesses in the cannabis industry. He is also reiterating his support for the legalization initiative on Florida’s November ballot. read more…
👉 Make America Green Again (May 22, 2024)
👉 The Trump Card (July 16, 2024)
👉 Trump Goes to Bat for U.S. Cannabis (August 31, 2024)
“As I’ve previously stated, I believe it is time to end needless arrests and incarcerations of adults for small amounts of marijuana for personal use. We must also implement smart regulations, while providing access for adults, to safe, tested product. As a Floridian, I will be voting YES on Amendment 3 this November. As President, we will continue to focus on research to unlock the medical uses of marijuana to a Schedule 3 drug, and work with Congress to pass common sense laws, including safe banking for state authorized companies, and supporting states rights to pass marijuana laws, like in Florida, that work so well for their citizens.” Donald Trump, 9/8/24
Lest this note finds its way to the screens of either political campaign, we’ll share the logic and reasoning on why U.S. cannabis must wiggle away from the War on Drugs:
Popularity: An overwhelming majority of American adults (78%) support legalization of cannabis, recognizing its economic, medical, and social benefits, and 91% of the U.S. population supports legalizing cannabis in some form (Pew).
Economic: U.S canna employs 500K Americans in state-legal jobs (Vangst) who sold $29B worth of product last year, which is estimated to grow to $37B by 2027 (Cowen).
Health Benefits: Legal canna provides patients with access to medical cannabis that helps manage conditions such as chronic pain, epilepsy, and anxiety, and thereby “improving quality of life.” (Harvard). (broader list of indications here)
The U.S. Dept of Health and Human Services has already recommended changing the legal status of cannabis based on overwhelming support for medical benefits.
Wellness: Opioid Use/Overdose: States with legal cannabis saw reductions in opioid prescriptions, use and overdose deaths, suggesting that it’s a safer alternative for pain management (AMA).
Teens/Underage Use: Legalization doesn't lead to increased cannabis use among teens as regulated markets ensure better control over sales and reducing access for minors (NIDA).
Criminal Justice: We can’t replace the lost time for those who have been or remain locked up for non-violent cannabis offenses, but we can get on country back on the ride side of history.
Over 40,000 people are currently incarcerated for non-violent cannabis offenses in the U.S., with racial disparities disproportionately affecting people of color (LPP).
Citizen Safety: As the federal government continues to impose onerous and arguably illegal taxes on state-legal operators, the illicit market has proliferated, supporting violent, organized Chinese crime rings.
/end
Have a safe journey and please enjoy responsibly.
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CB1 has positions in / advises some of the companies mentioned and nothing contained herein should be considered advice.