The U.S. cannabis market has good possible. The Seed Investor has quantified this previously.
If cannabis was legal at the national level and had been legalized as correctly at the state level as it has been in Colorado, cannabis would currently be a $108 billion per year market in the U.S. – and nevertheless increasing.
Alternatively, the U.S. cannabis market is at present a ~$10 billion per year (legal) market, increasing unevenly. The patchwork regulatory structure exactly where cannabis is legal in some states, but exactly where Prohibition nevertheless reigns nationally is now far more than an inconvenience.
It is the direct bring about of really serious illnesses and deaths – but not from the (protected) cannabis becoming sold. Rather, the illnesses/deaths are the outcome of harmful additives to each legal and illicit cannabis vape pens.
These are the symptoms of a partially regulated market. It is partially regulated since cannabis Prohibition prevents national security requirements, regulation, and solution inspection.
This predicament is most likely going to enhance in the close to future in the U.S., but almost certainly not ahead of the 2020 presidential election. When most possible Democrat candidates are on-board with legalization (Joe Biden is a notable exception), not all of these candidates have equal credentials as advocates for legalization.
A Leafly write-up tends to make a sturdy case that Democrat candidate Elizabeth Warren would be “a Cannabis Champion” if elected. As with most Democrats, Warren is a born-once more supporter of legalization.
Prior to 2016, Warren had not supported cannabis legalization. Leafly identifies Warren’s “key moment” in becoming a committed supporter of legalization as becoming March 2017. This was when Warren was 1 of only 11 senators who signed a letter protesting the anti- cannabis stance of (then) Lawyer Common Jeff Sessions.
Sessions had renounced the Cole Memorandum. There had been really serious rumblings inside the Trump administration of renewed enforcement of federal anti- cannabis statutes, even in cannabis-legal states.
Sessions (and Trump) at some point backed down. But it was the sturdy pushback against such a policy – at the grassroots and political level – that brought on the anti- cannabis faction inside the Republican Celebration to balk at any additional actions.
Even two ½ years ago, becoming visibly “pro- cannabis” was not a preferred political position in Washington, D.C. And Warren has been a constant advocate for legalization ever considering that.
These days, it is trendy to be pro-legalization on Capitol Hill, unless your name is Mitch McConnell. On the other hand, 56% of Republicans are now in favor of cannabis legalization (and far more than 70% of Democrats).
If McConnell maintains his steadfast opposition to cannabis legalization, there seem to be 3 attainable post-2020 election scenarios for the U.S. Senate:
- McConnell flip-flops in favor of supporting legalization
- McConnell loses his position as Senate Majority leader.
- The Republican Celebration loses its manage of the U.S. Senate.
As noted in a Marijuana Moment write-up from earlier this week, cannabis legalization is now noticed as a optimistic amenity by U.S. residents. Certainly, residents of states that do not permit recreational cannabis are now ignoring state laws and crossing into cannabis legal-states to obtain cannabis – or basically obtaining from the cannabis black market place.
This patchwork regulatory situation may well have been noticed by anti- cannabis Republicans as an acceptable status quo — previously. On the other hand, the American people today will no longer tolerate unnecessary wellness concerns (such as the existing tainted-vapes challenge), solely since the protected cannabis becoming sold is not effectively regulated. And the cause why it is not effectively regulated is since it is not completely legal.
Elizabeth Warren stands out nowadays as 1 of the most effective Democrat contenders to get cannabis promptly and correctly legalized post-election. A second-term Trump government would almost certainly (reluctantly) also push via some type of legalization.
On the other hand, this is far from specific. And any half-hearted initiative to legalize cannabis may well finish up in a regulatory quagmire not a lot far better than the existing predicament.
Americans want a completely legal and effectively regulated cannabis market. The cannabis market (and cannabis investors) deserve no significantly less. As a common champion for the American customer, Elizabeth Warren stands head-and-shoulders above most 2020 presidential candidates.