It appears the White House will have a new resident on January 20. This will likely turn out to be a major victory for the legal cannabis industry. There are already mutterings from the Biden/Harris ticket that banking reform will happen in 2021 so that legal cannabis businesses have a safe place to deposit their money, no more all cash transactions, access to lending capital and the ability to track the money.
Here are the facts:
- Five more states approved some form of legalized cannabis November 3, 2020
- Gallup released poll findings on Monday that shows nearly 7 in 10 Americans support the adult use of cannabis
- Since the early 1970's the acceptance of cannabis use has steadily increased as shown in the Gallup chart above.
Cannabis use in California was born out of compassionate use for those suffering the ravages of the fight among AIDS patients. Let me say this again, compassionate use. If you walk into a legal cannabis dispensary today the customers inside will be tech workers and the elderly. People look for alternatives over prescription medication for pain management and sleep deprivation among the elderly population as well as arthritis and those suffering disease and illness such as cancer patients.
In the SF Bay Area landlords are raising their hands saying I want a cannabis tenant in my building more than ever because of the upcoming change in the US Presidency. There is very little fear of federal consequence for the foreseeable future and with 74% of states allowing some form of legal cannabis policy, there is no turning back the tide. Alcohol has been with us for 87 years with the passage of the 21st Amendment to the Constitution and we all know the history lesson of Prohibition. We recently learned under the Pandemic that if you outlaw haircuts and manicures, folks will secretly seek it out. Let's legalize, let's regulate and pay our way into economic recovery.