Top 10 Cannabis Developments During Trump’s First 100 Days

The first 100 days of Donald Trump’s Presidency has felt like a roller coaster for the cannabis industry and we want to highlight the top 10 developments during this time. Although the cannabis industry has had countless developments during this time frame, we highlighted the ten we find to be the most significant.

1. After Colorado Governor John Hickenlooper met with Attorney General Jeff Sessions he does not expect there to be a federal crackdown on legal cannabis. Governor Hickenlooper said Sessions called the Obama administration’s guidance on marijuana not too far from good policy.
2. In March, the Marijuana Revenue and Regulation Act was introduced in the House and Senate. The legislation would impose a tax on cannabis sales, extend federal tax benefits to legal cannabis businesses, and remove the threat of criminal prosecution and property loss.
3. Department of Homeland Security Secretary John Kelly called marijuana a potentially dangerous gateway drug that frequently leads to the use of harder drugs the day after he said that cannabis is not a factor in the United States’ current fight against narcotics.
4. In February, White House Press Secretary Sean Spicer attempted to link cannabis use to the opioid addiction crisis plaguing the United States. He said the President understands the value of medical cannabis for those in need, but recreational cannabis is an issue for the Department of Justice to provide further clarification.
5. Vermont’s House and Senate have passed legislation to expand the state’s medical cannabis program. The House is expected to vote on cannabis legislation early next week after a House committee passed a bill earlier this week.
6. West Virginia became the 29^th state to legalize medical cannabis after Governor Jim Justice signed legislation to create a legal program in the state. The program will allow patients suffering with terminal illnesses or any of 14 specified conditions access to cannabis.
7. The Colorado Senate unanimously passed legislation to make it illegal for cannabis cultivation cooperatives to exist in Colorado. The legislation is known as the Grey and Black Market Marijuana Enforcement Efforts.
8. It took Texas lawmakers less than a month to discuss and pass legislation that would let Texas farmers grow industrial hemp. The legislation aims to fix the state’s inconsistent industrial hemp program. The current state law allows for hemp products to be sold and consumed, but not grown.
9. Iowa lawmakers passed legislation to expand the state’s limited medical cannabis program to allow for the cultivation and sale of cannabis oil to registered patients. Although current law allows for the possession of cannabis oil for the treatment of epilepsy, it is illegal to manufacture or distribute oil in the state and makes it inaccessible to patients.
10. At a recent National Football League meeting, the outspoken owner of the Dallas Cowboys Jerry Jones addressed the lifting of the NFL’s ban on the use of medical cannabis. Although a change like this is feasible, it must be negotiated through the collective bargaining agreement with the NFL Players Association.

Become a Mushroomstocks Premium Member to learn more!

Share

Tags

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Mushroomstocks.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

Top Stories