The Silver Platter
The Importance of Cannabis Rescheduling and Reform to the Democrats
I estimate the odds of rescheduling happening before the election have soared since Biden announced he would not run for reelection. Why do I think this?
Because while Presidential elections are about talking about hot button issues and firing up your base to come out to vote, the real election is about convincing the center or marginal voter to vote for you and your party. And this is where cannabis comes in.
What other topic or opportunity do the Democrats have to show common sense leadership on an issue that is very popular with Americans? There is only one that I can think of: cannabis. The Biden administration has full control of the process and can deliver results before the election. Congress does not control cannabis rescheduling.
I will remind readers that Kamala Harris called for the Department of Justice to hurry up their review in March of this year.
Kamala Harris was also on with Jimmy Kimmel in June and she nodded her head when Jimmy Kimmel, of all people, said that the DEA would reschedule cannabis to schedule 3 in two months. (at the 9 min and 30 second mark). Note that these late night conversations are heavily scripted in advance.
And just this week there was a long USA Today article about how Kamala’s attitude towards cannabis has evolved.
Further, Presidential elections are about battleground states. And it will be really hard for the Democrats to control the White House without winning a battleground state like Michigan. And guess which state now has the highest per capita spend on cannabis and units sold? That’s right, Michigan.
All the signs are there that the cannabis industry should finally get the first major Federal Reform the industry has ever seen.
Cannabis reform is waiting on a silver platter for Kamala Harris and the Democrats. Will they take it? If they want to retain the White House they will.
P.S. This doesn’t mean you should go out and buy any and all cannabis stocks. If you want to invest in cannabis consider the ETF TOKE in your portfolio for a well-researched and diversified ETF. Mindset recently got hired as the research consultant. As always do your own research and due diligence.