After a rough few weeks, the political change might be a help to the cannabis industry
House Speaker Mike Johnson (R-LA) seems to be on a path to squash the cannabis industry. He recently allowed a group to petition to slow, delay or stop the rescheduling process and is known for being a foe of the marijuana industry. Â Left unchecked, he could roll back enough things to seriously harm the legal industry. And there has been more talk about harsh punishment for the black market. Â The unexpected chaos in the Democratic Party could mean a change. Â The question being is Harris the answer for the cannabis industry’s hopes.
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While Speaker Mike Johnson consistently votes against anything marijuana, Vice President Harris’s take has somewhat involved. Known for being a tough on the industry during her tenure as California’s Attorney General, as Vice President she took a pause and has emerged as an administration champion for rescheduling. Unlike any other Vice President or Vice presidential candidate, she has regularly mentioned it in campaign speeches.
As attorney general, she was a polarizing figure in California. Her positions on criminal justice issues often shifted. But her move to somewhat legalizing cannabis is seen as a good sign for the industry. Stocks rose on the on the news she may be the Presidential candidate of the Democratic Party. Investors are noting while 85% of the public believe it should be legal in some form, some politicians are definitely not on board.
Harris has been described as moving on controversial issues only once she saw what was politically viable. Marijuana is a now a consumer non issue and from boomers to Gen Z the public is seeing it a much more positive light. This may be the reason is she is speaking about it more openly and more often. She made several comments in March when rescheduling was just starting, and now it should bubble back up. Â The Drug Enforcement Administration (DEA) is reaching an end to the rescheduling public comment session and some in the GOP, added my Johnson, want to extend the period. Harris’s take could be a significant glimpse into what a Harris presidency can look like for cannabis.
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The next year is critical to the mom and pop cannabis industry.  While the big backers including former bankers, the alcohol industry and others, the backbone are small growers, dispensaries and product companies.  The election will have far reaching consequence on the industry and tens of thousands of jobs.
