Regardless of which side of the fence you stand on when it comes to political affiliation, we can all agree that the 2020 election showed promising results for the cannabis industry, and the future of hemp is now looking brighter than ever.
In the recent election, four different states legalized the possession of marijuana by adults, and two other states made medical marijuana legal as well. Now, in 2020, 36 different states allow some type of marijuana possession by adults, whether it’s for recreational or medicinal reasons.
The legalization of cannabis has been a hot-button topic for the past three or four election cycles, and as time has gone on, polls tracking the American people’s opinion on the topic have shown a steady increase in support throughout the years. Whether it’s medicinal marijuana or recreational marijuana, the American people have continually shown support for cannabis.
On top of the good news that came on election day, only a week ago, the US House of Representatives a historic bill called the Marijuana Opportunity Reinvestment and Expungement Act (MORE Act), which will decriminalize cannabis. The bill makes it so that the possession of marijuana is no longer considered a crime, and it will erase punishments for previous cannabis-related crimes. The passing of the MORE Act is, in our eyes, one of the most significant rulings in recent years, especially because it appeared that it wasn’t going to be passed.
It was only just two years ago when President Trump signed the Farm Bill of 2018, which legalized hemp and became a separately historic moment for those operating in the cannabis industry.
At that time, the passing of the Farm Bill was great progress, but unfortunately, there wasn’t sufficient clarity on the differences between hemp and marijuana (which was still legal), so the industry struggled to see support from other sectors like banks, marketing agencies, and social media platforms. After all, nearly every state has its own set of laws and regulations when it comes to hemp and cannabis, so learning how to navigate the industry can be, well, confusing.
Cannabis regulations are finally getting fixed, so we can expect that hemp will soon get the same treatment.
In the end, it’s a marathon, not a sprint, and with the steady progress and acceptance we’ve seen with marijuana, we can be sure that hemp and the industry as a whole will be fully legal in no time.
WITH THAT BEING SAID…
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