Biden’s current proposal aims to undo some of the previous social inequities caused by the War on Drugs by removing use and possession as a criminal offense at the federal level. This would be done by moving marijuana from a Schedule I to Schedule II substance. Take note that Biden’s current proposal to decriminalize marijuana at the federal level is not the same as legalizing the drug. It would remain a controlled substance at the federal level.
Biden’s push to reschedule cannabis might be well-intentioned, but the move would allow the FDA to potentially impose strict regulations on the industry. For example, it could require that clinical trials be run to support claims that marijuana can be used to treat certain ailments, such as glaucoma or certain types of pain. The FDA would also be responsible for overseeing the manufacturing, packaging, and distribution of cannabis, and would likely impose strict requirements on producers in regards to tetrahydrocannabinol (THC) levels.
Everybody around Joe Biden is in favor of cannabis legalization, but Joe Biden is not. It’ll get very interesting if we find ourselves in a Biden administration with a Democratic-controlled Senate because the question will be whether Nancy Pelosi and Chuck Schumer, as Speaker of the House and potentially Senate Majority Leader, are prepared to send to President Biden a legalization bill that he’s really not ready for.
Show Notes: What Would a Joe Biden Presidency Mean for the Cannabis Industry? https://www.cannabisbusinesstimes.com/article/what-would-a-joe-biden-presidency-mean-for-the-cannabis-industry/ https://www.fool.com/investing/2020/09/20/joe-biden-and-cannabis-everything-you-need-to-know/ Joe Biden and Cannabis: Everything You Need to Know https://www.fool.com/investing/2020/09/20/joe-biden-and-cannabis-everything-you-need-to-know/ What Happens to Cannabis if Biden Wins? https://investingnews.com/daily/cannabis-investing/what-happens-cannabis-biden-wins/
Host: Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast. https://www.linkedin.com/in/joshkincaid/
Episode 569 of The Talking Hedge: Your Cannabis Business Podcast. Covering cannabis products, reviews, business news, interviews, investments, events, and more. https://www.theTalkingHedgepodcast.com
Music Info: Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018Artist: LuxrayBeats
Keywords: Hemp News, Weed News, Cannabis News, Marijuana News, Cannabis Business, Marijuana Business, Cannabis Industry News, Marijuana Industry News, Weed News 420, Talking Hedge Podcast, Cannabis Podcast, Marijuana Podcast, Business Podcast, CBD podcast, THC podcast, Cannabis Pitch Deck, Marijuana Pitch Deck, Marijuana Investment Deck, Cannabis Investment Deck, Cannabis Compliance, Cannabis Data, Cannabis Banking, Cannabis Investment, Pot Stocks, Cannabis Stocks, Weed Stocks, Marijuana Stocks, Cannabis Data, Marijuana Data, Cannabis Analytics, Marijuana Analytics, Cannabis Sales Data, Marijuana Sales Data
Josh is not an investment adviser. The Talking Hedge is long gold and silver. Listeners should always speak to their personal financial advisers.
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