Temperatures aren’t the only thing warming up this summer – the cannabis market is heating up with potential changes.
It is the time of year for high temperatures, travel, grilling, and more. And as a bonus this year, things are heating up for cannabis this summer. Â The industry is holding its breath as the current administration lumbers toward rescheduling, Florida is setting the stage again for a fight between the governor and his residents and licenses are granted as Ohio opens the marijuana market.
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The cannabis industry is starting to rise out of a mess caused by overexcitement, federal regulation and zero tax relief for mom and pop businesses. And, it seems, the Biden administration seems to be finally taking rescheduling serious with both President Biden and Vice President Harris using it as a talking point in speeches.
The Drug Enforcement Agency (DEA) hasn’t be the most excited despite both Health and Human Services (HHS) and Food and Drug Administration (FDA) recommending the change. Several key federal health agencies were part of conference recently to discuss the marijuana science and policy considerations for researchers navigating cannabis studies, but the DEA cancelled their participation. Currently, it is in a 60 day public comment period and they DEA will move afterwards. Fall seems to be the time a final decision will be made.
Florida has voted on marijuana three times. The first time medical passed by 60% and the the then popular Governor declared it not enough. The second time it passed by over 70% and the Governor said the public was confused. Now they go for a third time and the Governor doesn’t want a vote and especially doesn’t want support from his citizens. But things have changed. Faced with soaring problems and a more negative view of his nanny state policies, DeSantis barely breaks 50% approval ratings. In a new Fox New poll, 66% of the state backs expanding legalization. Included in the poll is Republicans are at 57% for making the plant more available, it seems DeSantis is again swimming against what Florida wants.
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The state where 7 US presidents were born, Ohio, is gearing up to sell recreational marijuana in dispensaries. Ohio’s 132 medical marijuana dispensaries are now able to apply for recreational sales permits. It means marjijuana could be sold to the adult general public begin by mid July. And, most likely, it means most Buckeyes should have access by the later part of the summer. And it means the end of the year will be a boon for the states tax coffers. Smaller state Missouri did over $1 billion in sales in their first year, so the state budget should look good next year.
