EXCLUSIVE: Glass House CEO Says 'Legalizing Cannabis Isn't Just About The Economy, It's About Righting Past Wrongs'

As California’s cannabis industry grows, industry leaders like Kyle Kazan‘s experiences are priceless for understanding this market’s unique challenges and opportunities. At the Benzinga Cannabis Market Spotlight: California on Thursday, Kazan, CEO of Glass House Brands, shared his thoughts on the current state of the industry, the hurdles faced by retailers and cultivators, and the future of cannabis in California and beyond.

“It’s ironic that there are people in federal prison for doing exactly what we’re doing legally today,” said Kazan. “It shows how rapidly our societal views on cannabis are changing.

 Irony of Current Cannabis Legislation

Kazan highlighted the paradox in current cannabis legislation. He pointed out the stark contrast between the past and present legal environments, emphasizing the irony where activities that once led to federal prison sentences are now legal and part of a thriving industry. This observation underscores the dramatic shift in societal and legal attitudes towards cannabis.

Push For Descheduling Or Legalization

A significant focus of Kazan’s discussion was on the need for progress in cannabis legislation, particularly regarding descheduling or legalization at the federal level. Descheduling cannabis from the Controlled Substances Act would remove it from the list of federally prohibited drugs. This move could have far-reaching implications for the industry. It would likely lead to increased research, more significant banking access for cannabis businesses, and an overall reduction in the legal ambiguities that currently plague the industry.

Kazan noted, “Federal legalization is more than just a legal issue; it’s a massive economic opportunity. We’re talking about a whole new frontier for interstate commerce, job creation, and tax revenue.”

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Impact On The Market And Economy

Kazan’s advocacy for legislative changes isn’t just about rectifying past injustices. He sees these changes as pivotal for the economic growth of the cannabis industry. Federal legalization or descheduling could open doors for interstate commerce, allowing states like California to export their cannabis products, which would significantly benefit growers and the state’s economy.

Consumer Safety And Market Stability

Moreover, Kazan believes that changes in legislation could enhance consumer safety and market stability. With federal oversight, standardized product quality and safety regulations would reduce the risks associated with unregulated products. This would also provide a level playing field for legal operators, helping to mitigate the competition from the illicit market.

Final Stance 

In essence, Kazan’s remarks are a call to action for lawmakers. By aligning federal laws with the growing acceptance and legalization of cannabis at the state level, there’s an opportunity to create a more robust, safe, and economically beneficial cannabis industry. Such legislative changes would not only reflect the changing societal attitudes toward cannabis but also unlock the full potential of this burgeoning industry.

“It’s time for lawmakers to catch up with the public opinion and science. Legalizing cannabis at the federal level isn’t just about the economy; it’s about righting past wrongs and paving the way for a safer, more equitable future,” Kyle urged. “I think California is going to be the very, very big winner in cannabis when we can get all the chains taken off our wrists.” 

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Photo: Abbey Higginbotham