Post November Election State-of-Cannabis Update

Post November Election State-of-Cannabis Update

Hey there, friends in the cannabis world! Did you catch the winds of change blowing through the cannabis industry following the recent midterms? In a major stride, voters in two additional states have green-lit cannabis legalization, bumping up the tally to a whopping 21 states, plus the District of Columbia. But wait, there’s more! A week later, a pivotal congressional hearing put the spotlight on the complex legal landscape of cannabis. Let’s dive into what’s been brewing on Capitol Hill.

Cannabis Legalization’s Steady March Across the US

As the midterms loomed, six states were on the cusp of making a call on adult-use cannabis legalization. But a hiccup with Oklahoma’s red tape meant pushing their vote to 2024. Meanwhile, five states that already had medical marijuana programs in place made their move.

Only Maryland and Missouri stepped up, saying ‘yes’ to adult purchase and possession. This landmark decision has taken the count of cannabis-friendly states to 21, alongside DC. Maryland’s Question 4 gives the green light to adults over 21 to buy up to 1.5 ounces or grow a couple of marijuana plants from July 2023. Meanwhile, Missouri’s Amendment 3 allows adults to buy and possess up to 3 oz of cannabis and grow up to six flowering plants.

Unfortunately, Arkansas, North Dakota, and South Dakota said ‘no thanks’ to legalization measures, but it’s not a total downer. The rejection was largely due to flaws in the proposals, leaving room for future advocacy and improvement.

What’s Cooking in Congress?

There’s a refreshing change in the air with lawmakers nationwide warming up to cannabis and its potential boons. Take Kentucky’s Governor, Andy Beshear, for instance. He’s gone ahead and issued an Executive Order allowing adults to possess and use small amounts of medical cannabis from 2023, despite cannabis still being illegal in the state.

Over in Congress, the passage of the “Medical Marijuana Cannabidiol Research Expansion Act” is breaking new ground by facilitating cannabis research. And hey, President Biden’s recent federal pardon to about 6,500 folks with non-violent, misdemeanor cannabis possession charges? That’s huge! He’s also nudging state leaders to wipe clean nonviolent cannabis charges.

Even more groundbreaking, Biden’s requested a review of cannabis’ Schedule I status. Public opinion is soaring in favor of cannabis legalization, signaling a shift in federal congressional attitudes.

Looking Ahead: The Road to Reform

While each of these developments might seem small on their own, together they’re painting a bigger picture of progress. The recent congressional hearing on “Developments in State Cannabis Laws and Bipartisan Cannabis Reforms at the Federal Level” is a testament to this shift. The focus was on federal decriminalization and its ripple effects across various sectors.

The advocates highlighted issues like barriers to entry in the cannabis industry, especially for disadvantaged groups. They also shed light on the banking and financial services conundrum and the resulting uptick in crime for cash-reliant cannabis businesses.

So folks, while we’re moving at a snail’s pace, it’s still progress! We, at Bankcard International Group, are all about pushing for fair financial services access in the cannabis industry. We’re right there at the forefront, bringing you the latest and greatest in legal, sustainable cannabis payment solutions.

Got any queries or concerns? We’re just a call away! Our team of ETA Certified Payments Professionals is here to help you navigate through the ever-evolving cannabis payment landscape. Remember, steady wins the race, and we’re in it for the long haul!

Need Help with Cannabis Payments? Reach Out!

Curious about your options in the cannabis industry or need guidance on payment processing? Get in touch with us – we’re here to help!

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