Cannabis Rescheduling Before the Election? Cannabiz Supply CEO Urges Caution
Cannabis Deregulation Before The Election? Cannabiz Supply CEO Says, 'Don't Count On It'.
As the Biden-Harris administration urges the DEA to make a decision on cannabis rescheduling before the upcoming election, questions about timing and political perception arise.
Barbara Fox, co-founder and CEO of Cannabiz Supply and upcoming speaker at the Benzinga Cannabis Capital Conference, shared her thoughts on the matter, focusing on the potential outcomes for the cannabis industry.
Political Timing and Rescheduling
Fox expressed skepticism about any major actions on cannabis rescheduling before the election. She noted, “Despite the Biden-Harris administration’s efforts to urge the DEA to make a decision before the election, I believe that any decision made so close to the election in a deeply polarized nation will likely be perceived as politically motivated, regardless of the intent.” This points to the challenges of making policy changes in an election year.
Economic Impact and Industry Shifts
Fox also highlighted the economic impact that cannabis rescheduling could have on the industry.
“Should cannabis be regulated, we can expect a surge in mergers and acquisitions due to favorable and equitable tax laws,” she explained.
Fox added that traditional banks, eager to lend to cannabis operations, would likely finance these deals, leading to increased consolidation within the industry.
Want To Learn More?
Fox’s insights will be part of the more comprehensive discussions at the upcoming Benzinga Cannabis Capital Conference, scheduled for October 8-9 in Chicago. The conference will bring together industry leaders to explore the future of cannabis regulation and its implications for businesses nationwide.
While the timing of cannabis rescheduling remains uncertain, Fox's perspective that "any significant action on deregulation" may be delayed offers a critical viewpoint as the industry navigates these potential changes. The potential economic opportunities and challenges will be a crucial topic of discussion at the event.
