The cannabis industry has been on a rollercoaster ride since the new administration took office, with many businesses and advocates hoping for swift reform. However, the White House has remained mum on the issue, leaving the industry in limbo.
During his campaign, the president expressed support for rescheduling marijuana under the Controlled Substances Act (CSA), which would ease restrictions on medical use and enable cannabis businesses to access banking and tax benefits. However, since taking office, no concrete steps have been taken to advance this initiative.
A recent White House official confirmed that “no action is being considered at this time” regarding marijuana policy, leaving advocates and industry stakeholders uncertain about the administration’s priorities.
The delay in federal action has significant implications for the cannabis industry. Rescheduling marijuana could alleviate financial burdens by eliminating restrictions under IRS Code Section 280E and promoting medical research. However, the stalled process leaves businesses navigating regulatory uncertainties and limited financial access.
Stakeholders continue to lobby for reform, but the administration appears focused on other priorities such as immigration and foreign policy. Advocates hope the President will leverage his influence to advance cannabis reform, but for now, the issue remains sidelined.
