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U.S. President Joe Biden briefly mentioned marijuana reform during last week’s State of the Union address, lifting industry hopes that cannabis rescheduling is on the horizon.
Adults 21 and over can use and possess certain amounts of cannabis starting Aug. 1, but adult-use cannabis sales aren’t expected to begin in Minnesota until early 2025.
WSWA President and CEO Francis Creighton said lawmakers should look toward the alcohol industry as a model that offers harmony between state and federal regulations.
Voters in Missouri and Maryland approved adult-use cannabis in the Nov. 8 election, while Arkansas, North Dakota, and South Dakota rejected ballot measures to allow it in their states.
President Joe Biden has announced plans to pardon Americans with federal simple marijuana possession convictions and order top officials to review the scheduling of cannabis.
Despite lessening criminal and administrative penalties and depository insurance obstacles, both the SAFE Banking Act and pending state cannabis banking legislation fail to put legal cannabis on an equal footing with other legitimate industries.