On the brink of cannabis rescheduling, democratic Governors Jared Polis of Colorado and Wes Moore of Maryland delivered a unified message: the federal cannabis agenda needs immediate advancement.
“We are at the end of the failed era of prohibition,” Polis said at an event organized by the Coalition for Cannabis Scheduling Reform (CCSR).
Cannabis In Colorado
Polis’ administration has significantly shaped Colorado's progressive cannabis policies since the state legalized recreational cannabis in November 2012, positioning it as a pioneer alongside Washington state and Oregon.
"In so many ways, we feel that we are a model to the nation. We legalized delivery, hospitality, and social use giving out-of-towners and tourists a chance to legally and safely consume. We continue pushing forward access to banking and financial services for the industry. Legal cannabis has created thousands of jobs, but there’s a lot that needs to be done" Polis said.
Since legalization, Colorado has generated over $2.5 billion in cannabis tax revenue, supporting public programs and services. But money is not the first thing the governor stresses when it comes to cannabis reform. "For me, it was something I incorporated when I ran for the first time. Inclusive, just, increase public safety… cannabis reforms does all that."
Listen To The People And Read The Data
"It's very clear that you help to pave the way for all of us," Maryland’s Gov. Moore told Polis, referring to him as a godfather of cannabis reform. For Moore, rescheduling is a crucial, data-driven step. "There was no reason for cannabis to be in the same schedule as heroin, and better understanding the biology but also the impact of cannabis in neighborhoods and communities is essential."
In Maryland, recreational cannabis sales got underway in July 2023 after voters approved a referendum in November 2022, making it legal for adults aged 21 and older to possess and use small amounts of cannabis products from July 1, 2023.
Maryland boasts high-quality data to support decisions, massively backed by voters: 76% voted in favor of cannabis legalization. Moore also champions massive federal pardons for cannabis misdemeanor charges, which can significantly impact lives. "I had handcuffs on my wrists when I was 11 years old… I've seen the way cannabis was used in communities. We needed to stop the madness."
Moore advocates for extensive pardons to correct these life-altering charges, forming an underclass of people who are sidelined from the economy. "We also know that you cannot celebrate the benefits of legalization if you are not willing to wrestle with the consequences of criminalization," Moore emphasized.
A Call For Federal Pardons
Maryland recently issued pardons for 175,000 low-level cannabis convictions but continues to push for more federal action. "While we applaud the moves that the Biden administration has made, we just know that if we are listening to the people, and we are looking at the data, there's more work and more progress that needs to be done on this issue."
Maryland's economic statistics also show impressive results: in 2022, the state generated approximately $14.5 million in cannabis sales tax revenue from October to December alone. From July to September 2023, Maryland collected an additional $12 million in cannabis sales tax revenue, marking just the first quarter.
Concerning President Biden’s rescheduling efforts, Moore agreed, "What the president did was the right thing. When people vote in November, they are not going to forget that."
Rumors of possible slowdowns in DEA rescheduling were dismissed, with a shared sentiment that quicker action is preferable.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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