Although cannabis is now legal in 33 states, the big question on everyone’s mind is still: When, if ever, will it become federally legal, and what effect will that have on the current marijuana industry? Seeking to gain some insight, we spoke to five insiders and thought leaders. Here’s what we found out.
Related: 12 States That Could Legalize Cannabis Sales in 2020
It’s up to the states
“There is a probability that on the back end of the 2020 election, especially if we go into a broader economic downturn, lawmakers might see the wisdom of descheduling or legalizing cannabis at a federal level. The reason for this step is motivated by a few factors: the issue polls well across party lines (a rarity in today’s world), and the industry drives tax revenue and creates jobs.
However, the most important factor we know in each market that legalizes is the approach of the implementation process. Several states have faltered with implementation, and it leads to a choked and challenged industry. California would be a perfect example of this with the terrible tax structures, limited support for legal operators, and weak enforcement against the illicit market. Many in the industry believe that federal legalization will lead to a degree of state protectionism around the interstate commerce piece of the industry.
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