With former President Donald Trump appearing to win the 2024 presidential contest, America is left wondering: what’s next? Vice President Kamala Harris and former President Donald Trump diverged on nearly every issue, but one topic saw some common ground: cannabis.
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Both candidates expressed support for some type of federal reform, mirroring the growing societal shift accepting cannabis as mainstream. But now that Trump has been declared the winner, many want to know what that means for the future of weed.
During his initial tenure, President Trump failed to enact meaningful change—and his attorney general rescinded protections for state-legal cannabis operators. However, the tide has apparently turned.
Trump expressed support for the rescheduling of cannabis on the campaign trail, a process his predecessor’s administration initiated in 2022. He also stated that states should be able to decide whether to legalize, and he reportedly voted in favor of reform in his home state of Florida.
Tyler Beuerlein, chief strategic business officer at cannabis banking firm Safe Harbor Financial, believes the former president will stay the course when he returns to the White House.
“(The) Trump Administration will likely place greater emphasis on state autonomy and deregulatory measures, potentially reinforcing a state-led approach to cannabis policy,” Beuerlein said in a statement sent to GreenState.
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Beuerlein expressed concern that Trump’s policy may not go far enough and that the cannabis space will continue to face challenges.
“While this perspective could allow individual states to set their own cannabis agendas without heavy federal intervention, significant barriers remain for the industry, particularly concerning access to banking services and interstate commerce,” Beuerlein added. “Bipartisan Congressional support will be essential for enacting measures like the SAFE Banking Act.”
Re-focus on rescheduling likely
Even if cannabis is left to states to regulate, reclassifying cannabis could lead to change for the industry—mostly in the form of tax breaks and the lifting of other business-related restrictions. However, a decision on federal rescheduling could still be months away. Scheduled testimony from experts on both sides of the debate was pushed to early 2025, and federal officials will need plenty of time to consider the arguments.
It’s important to note that rescheduling is not the same as full legalization; it would likely just make doing business in the pot sector easier. However, pro-pot advocates hope the ball will continue moving forward in order to help bolster the industry and increase research.
A Trump win likely won’t lead to the type of reform many in the cannabis community were hoping for. However, given the incredible popularity of the plant, it’s possible change could be ahead. GOP control of the White House, Senate, and possibly the House may lead to skepticism, but more Republicans than ever support legalizing weed. For now, it’s back to the “wait and see” status quo.
*This article has been updated to correct the spelling of Tyler Beuerlein.
