Harris-Walz Ticket Could Be 'A Tremendous Asset' For Cannabis Reform, But Senate Hurdles Remain, Says Expert

With the upcoming 2024 election featuring the first explicitly pro-cannabis legalization presidential ticket in U.S. history, cannabis industry experts are weighing in on what this could mean for federal policy.

Saphira Galoob, executive director of the National Cannabis Roundtable and upcoming speaker at the Benzinga Cannabis Capital Conference, provided insights into the potential impacts of a Harris-Walz administration on cannabis reform during an interview.

“Having a pro-legalization ticket is a tremendous asset to advancing cannabis reform,” Galoob said. She noted that the Biden-Harris administration had made more progress on cannabis issues than any previous presidency, and it is likely that a Harris-Walz ticket would build on that foundation. Both Harris and Walz have been vocal supporters of full legalization, and their administration could take further steps toward reform.

Legislative and Political Challenges Remain

Despite the optimism surrounding a Harris-Walz administration, Galoob emphasized that the path to full legalization is far from guaranteed. “Even the most pro-cannabis presidential ticket means very little if the Senate and House are not supportive of reform,” she cautioned. She also predicts the current political landscape indicates neither party is likely to secure the 60 votes needed in the Senate for sweeping cannabis legislation, making bipartisan support essential.

Galoob explained that while a broad legalization bill might struggle to pass, more targeted reforms could be achievable.

Executive Actions as a Path Forward

In the absence of comprehensive legislative reform, Galoob pointed out that executive actions could still make a difference. “A pro-legalization ticket could still undertake executive actions on cannabis—for instance, an executive order could direct federal agencies to reassess their internal policies on cannabis,” she said. Such actions could help create a more favorable environment for cannabis businesses and investors, even if Congress remains divided on the issue.

Galoob is set to speak at the upcoming Benzinga Cannabis Capital Conference, which will take place on Oct. 8-9 in Chicago. The event will bring together industry leaders and policymakers to discuss the future of cannabis reform and the potential impacts of the 2024 election on the industry.

Read Next:

• RIV Capital’s 111% Revenue Surge Amid NY Expansion, Prepares For Major Merger With Cansortium Cannabis Co.

Photo: Lev Radin via Shutterstock