After much anticipation, the White House has made its first comments regarding the cannabis industry, a sector that had initially hoped for swift reforms under the new administration. Despite the optimism surrounding the president’s campaign promises, the administration’s current stance is marked by inaction and uncertainty, leaving many advocates and industry leaders feeling frustrated.
The cannabis industry has proven to be a significant benefit for consumers, medical patients, and legal states alike. However, numerous mom-and-pop businesses have faced challenges due to federal, tax, and banking restrictions that complicate growth and expansion. Initially, many in the industry supported the new administration, expecting it to facilitate positive changes. Unfortunately, with some cabinet members and House Speaker Mike Johnson opposing cannabis reforms, the White House’s recent statement does not convey a clear path forward.
A White House official confirmed that “no action is being considered at this time” regarding marijuana policy. This lack of movement is particularly disheartening for those who had hoped for a shift in regulations following the president’s earlier commitments to reschedule marijuana under the Controlled Substances Act. This change would move cannabis from Schedule I to Schedule III, easing restrictions on medical use and allowing cannabis businesses access to banking and tax benefits. However, since taking office, no concrete steps have been taken to realize this goal. A hearing on rescheduling that was originally set for January 2025 has been postponed due to procedural appeals, further complicating the situation.
While the president has expressed support for state autonomy in cannabis policy, endorsing initiatives like Florida’s failed 2024 recreational marijuana ballot measure, his administration has yet to prioritize federal reforms such as the SAFE Banking Act. Efforts to include these measures in government funding bills last year were unsuccessful, leaving the cannabis industry in limbo.
The delay in federal action carries significant implications for cannabis businesses, as rescheduling could alleviate financial burdens and promote medical research. However, the stalled process continues to leave operators navigating a landscape fraught with regulatory uncertainties.
As the administration focuses on other pressing priorities, including immigration and foreign policy, advocates remain hopeful that the president will leverage his influence to advance cannabis reform. For now, the industry continues to face challenges while awaiting a clearer direction from the White House.
