Economists predict that by 2021, the marijuana industry will be worth more than $21 billion. Because so much money and investment is at stake, everyone is waiting anxiously for what may happen under Trump’s administration. Cannabis is still illegal federally, even though most states have unbanned both medical and recreational marijuana. Effect of Trump Administration on Marijuana Industry Trump’s rhetoric on cannabis policy is confusing. His words suggest that he might support the right of states to make their own laws on pot, or at the very least, he may favor medical marijuana. However, he already has a history of reverting on campaign promises, such as Mexico paying for the border wall, which it can now pay later, if it ever does. There is no guarantee that Trump means what he says. Furthermore, Trump appointed Jeff Sessions as Attorney General. Sessions has opposing views on legalizing marijuana, and as a …
On November 8, 2016, all of California was celebrating the official ballot votes approving Proposition 64. For those in Santa Monica, cannabis for recreational purposes was legal, and everywhere else in the state, too. Anyone over the age of 21 could use weed, carry it on their person, and even grow some at home. However, everyone is now anxious with President Trump being in office. Just ten days after his election, Trump instated Jeff Sessions as head of the Department of Justice. Sessions is an Alabama senator with strong opposing views on marijuana. Trepidation is now pervasive in L.A.’s cannabis industry, and stakeholders are extremely insecure about what will happen next or how to proceed. After all, cannabis is still illegal under federal law. California’s marijuana industry feels under threat. Santa Monica cannabis industry do not feel that they have sufficient legal protection. Although Proposition 64 legalizes recreational weed, cannabis …
Marijuana reforms have come a long way and the people elected into office have always had a major role to play in determining the success or failure of these reforms. About ten days following Donald Trump’s election into office, Americans have started to get signals of how things may turn out for cannabis with Trump’s administration. This is especially after looking at the people Trump is bringing on board to work with him in his administration. Just a few days ago, Trump nominated Senator Jeff Sessions to the office of US attorney general. During the campaign period, Trump pledged support for state laws regarding marijuana. However, nominees to his administration may give Americans some reason to worry. In the past, Sessions has openly shown disinterest in cannabis and most probably, very little can be expected from him as far as the support for marijuana reforms is concerned. However, this is …
Players in the marijuana industry have been following the presidential campaigns and election keenly because of the implications of the new presidency to the industry. After a heated campaign period, Trump has won the presidency. The win is good news for his supporters and the marijuana industry as well. Trump has never held a public office before and hence it has been hard for law reformers to predict his move on the legalization of marijuana. However, many legal analysts believe that he will think like a businessman and legalize the drugs because of the high revenues that the industry generates every year. States such as California that have legalized cannabis for medical use have benefited from high tax revenues and low costs of law enforcement. Trump’s stand on legalization of marijuana has been slippery, which is understandable because of the implications of such laws. However, his responses to questions on …
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