Harris-Walz Could Spark 'Single Largest Catalyst' In Cannabis Industry, Says Expert

With the Harris-Walz presidential ticket openly supporting cannabis legalization, the upcoming election could mark a turning point for federal cannabis policy. Federal rescheduling of cannabis—a vital issue in the cannabis industry—is now at the forefront of discussions. As the industry braces for what could be its most transformative moment since state-level legalization began, experts are weighing in on the potential impacts.

Seth Yakatan on the Harris-Walz Ticket and Federal Rescheduling

Seth Yakatan, a Partner at Katan Associates International and an upcoming speaker at Benzinga’s Cannabis Capital Conference, highlighted the importance of the Harris-Walz ticket in this context. According to Yakatan, this is the first presidential ticket to show “genuine and consistent support of legalizing cannabis.” He noted that Tim Walz, a strong advocate for state-run cannabis programs and hemp regulation, could bring much-needed federal alignment to the industry.

Yakatan contrasted the Harris-Walz ticket with the Trump-Vance ticket, which he described as “beholden to the evangelical Christian wing of the Republican Party.” This could, he suggests, stymie federal legalization efforts, making the outcome of the 2024 election crucial for the future of cannabis policy.

The Impact of Federal Rescheduling

Yakatan believes that federal rescheduling is the “single largest catalyst event for the cannabis industry” since the advent of state-by-state legalization. While full decriminalization remains the ultimate goal, rescheduling could be a “watershed moment” for the industry, opening the doors for new capital. “This will be a watershed moment in terms of new capital flowing into the sector,” he said, emphasizing the financial implications of such a shift.

Looking Ahead

As the cannabis industry watches the election and the potential for federal rescheduling, Yakatan remains cautiously optimistic. He sees this as a crucial moment that could reshape the industry's future, particularly if the right political leadership is in place.

Yakatan will explore these topics further at the Benzinga Cannabis Capital Conference, where industry leaders will gather to discuss the latest developments in the cannabis space.

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