What to Expect for Marijuana Businesses Under President Trump

With the presidency of Donald Trump, many are concerned about the future of the marijuana industry. It is well on its way to becoming a $20 – 21 billion business by 2020. Under the new administration, it is not likely that this will change. President Trump has actually indicated that he will be in favor of allowing states to have the right to medical marijuana. Many are concerned, however, that he will not stick to his statements. Another concern is who will be elected as Attorney General.

Even though many states have legalized at least some form of medical marijuana, it still remains a Schedule I drug. With this schedule under the Controlled Substances Act, it remains illegal at the federal level. Under the Obama administration, a “hands-off” approach was given to state legalization by the DEA and other drug administration organizations. The DEA did not need to prosecute individuals in states that had legalized marijuana who were complying with his or her state’s laws. We are still not sure what will take place under Trump’s administration, but much of this will depend on who he selects as Attorney General.

The Role of the Attorney General

The Attorney General is one of the most important positions of the presidential cabinet. This individual heads the U.S. Department of Justice which handles the Drug Enforcement Agency and the policies it sets forth.

With Jeff Sessions, the attorney general pick, the future of the marijuana industry is not clear. What is known is that he is a marijuana critic and that there is a chance he could implement strict regulations concerning the marijuana industry.

Legal Representation for Cannabis Business Owners in San Diego

What we do know, however, is that the passing of Proposition 64 has allowed for the use of recreational marijuana. Beginning January 1, 2018, licensed businesses will be allowed to sell non-medical marijuana. If you need assistance with a business endeavor, we can help you remain compliant with the rules and regulations set in place. Contact Purdy & Bailey, LLP today!