Earlier this year, our co-founder RJ Falcioni offered a prediction for how the cannabis industry would fare under Trump: nothing major or progressive would really happen. While Falcioni’s expectations have mostly been confirmed, new motions in legislation could suggest otherwise. In a recent federal proposal, the Trump administration outlined a 90% deduction from the National Drug Control Policy budget.
Instead, as is purported in the report, some of the money would be funneled into the Drug Enforcement Administration. Trump also continues to persist in removing Section 538, a clause that fortifies protections of state-legalized medical marijuana. These potential spontaneous changes in policy and budgets could possess serious ramifications for the U.S. cannabis industry.
While Falcioni predicted that Trump would veer away from attacking cannabis bank initiatives, these recent developments contradict his overall assertion. Trump’s administration appears to be focused deconstructing essential medicinal marijuana policy; all while simultaneously platforming damaging drug enforcement tactics. The consequences could fall in various fashions.
Medicinal marijuana could be scaled back significantly in a variety of prominent states. Less discretion could be given to public marijuana usage, possibly re-criminalizing the drug throughout the country. Regardless of the outcome, the cannabis industry would not be spared.
These spontaneous anti-cannabis initiatives that are being advanced in the Trump Administration definitely comprise a significant counterpoint to Falcioni’s theories. However, one of his remarks still remains true: “the reality is that Trump is about one thing and one thing only – winning”. The totality of this new policy begs a few questions. What has changed between Trump and his colleagues? And why now is he taking this bold approach against the cannabis industry? We can only speculate on what agenda lies behind this attack.
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