The cannabis industry has a long way to go regarding gender and racial diversity. Criticism for ignoring minority communities and failing to address the harm caused by the war on drugs is getting louder.
Sen. Cory Booker, D-N.J., who has been optimistic about seeing marijuana decriminalized at the federal level and getting the cannabis banking bill across the finish line, is among those who are making sure that cannabis reform remains equitable.
At a recent gathering at Tisch College's Solomont Speaker Series, he voiced concerns about Blacks being more likely to get arrested for marijuana than whites despite roughly equal usage rates, reported The Tufts Daily.
"If you're Black in America, you are four times more likely to be arrested for marijuana than somebody that's white," Booker said.
Despite the growing legalization of cannabis in the U.S., many individuals with prior cannabis convictions continue to face significant barriers to employment and other opportunities, perpetuating the cycle of poverty and social injustice.
Some critics, including Booker, say these issues could be better addressed through social responsibility programs.
"What is really frustrating to me is, I thought that legalizing marijuana would have a democratizing force on our country," he said on Monday. "We're not seeing the kind of expungements with people who are using marijuana now legally."
An earlier Marijuana Business Daily survey found that just 5.7% of the business owners in the state-legal cannabis industry were Hispanic/Latino, 4.3% were Black, 2.4% were Asian, and an overwhelming 81% were White.
The Sentencing Project, a Washington D.C.-based research and advocacy center, found in 2021 that Latino Americans were imprisoned at a rate of 349 per 100,000 residents. White, non-Latino Americans were incarcerated at 261 per 100,000 residents, reported USA News.
Social Equity In Spotlight At Benzinga Cannabis Capital Conference
The issue of racial disparities in the cannabis industry as well as a myriad of other essential topics were discussed at this week's gathering of cannabis decision-makers, founders, investors and advocates at the Benzinga Capital Cannabis Conference, which took place on April 11-12 in Miami Beach, Florida.
For those who run a cannabis company but don't have a marketing budget to pay for an event of that magnitude, Benzinga provided social equity opportunities for some to attend the conference.
Photo: Beniznga edit of images by Wikimedia Commons and Matthew Brodeur on Unsplash
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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