As the cannabis industry continues to evolve, one aspect of reform remains consistently overlooked: medical marijuana.

Despite being the foundation for cannabis legalization in the U.S., medical marijuana is increasingly overshadowed by the conversation surrounding adult-use cannabis. This ongoing shift in focus raises important questions about the future of medical cannabis and its role in broader regulatory changes.

Joseph Lustberg, CEO of Upwise Capital, discussed the issue in an exclusive interview with Benzinga before his appearance at the Benzinga Cannabis Capital Conference. Lustberg pointed out that while the adult-use market draws more attention due to its revenue potential, medical marijuana still holds a critical place in the cannabis industry and should not be overlooked.

Medical Marijuana Pioneered Cannabis Legalization

“Medical marijuana seems overlooked today since it truly led the way for cannabis legalization,” Lustberg noted. He explained that the adult-use market naturally draws more attention because of its size and profitability.

Still, he stressed that medical cannabis is indispensable for the overall health of the industry.

“The sizable recreational market gets more attention now from a revenue standpoint. Medical also faces barriers like insurance coverage challenges,” he added.

Lustberg highlighted the importance of maintaining medical marijuana’s place in future cannabis discussions, especially when it comes to patient access and the therapeutic benefits cannabis offers. “Its therapeutic benefits are critical, so medical marijuana should remain part of the conversation,” he emphasized.

The Role of Medical Marijuana in Future Cannabis Reform

Although it may not be at the forefront of current cannabis reform discussions, Lustberg believes medical marijuana still plays a key role in shaping the future of cannabis policy. He sees medical marijuana as a bridge between cannabis and the health and wellness market, which could shift perceptions as the laws continue to develop.

“It can help frame cannabis as a health and wellness product as laws evolve,” Lustberg said. He emphasized the need for regulators to protect patient access, promote research, and ensure diversity in product offerings. “Regulations must protect patient access, research and product diversity,” he added.

Looking Ahead: Medical Marijuana’s Role in Responsible Reform

Lustberg concluded by stressing that medical marijuana remains vital to responsible cannabis reform, even as recreational use takes center stage.

“Medical marijuana’s place at the table is indispensable to responsible reform,” he said, underlining the necessity of keeping medical cannabis in the broader conversation about cannabis policy.

As Lustberg prepares to speak at the Benzinga Cannabis Capital Conference, his insights highlight the ongoing challenges and opportunities for medical marijuana within the cannabis reform landscape. Despite the attention given to adult-use legalization, medical cannabis continues to be a crucial part of the industry’s future.

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