In Trump World, there’s a quieter, yet significant debate swirling around the legalization of marijuana. It’s not about the flashy media like the Epstein documentary, but rather a more intricate conflict over its legal status.
From what I hear, Trump feels somewhat boxed in. There seems to be pressure on him from the federal government to take action in the coming weeks that could help lower crime rates.
Some sources within the MAGA circle suggest he might consider reclassifying marijuana to a Schedule III drug, akin to substances like anabolic steroids.
On the business front, Pot Inc. is pushing for marijuana to be reclassified, arguing it shouldn’t be grouped with hard drugs like heroin. The industry is thriving, with access to banking becoming more feasible as public opinion shifts. Many Americans now see it as less hazardous than alcohol, which, in turn, brings in tax revenues as the sector expands.
Yet, there’s pushback. Some skeptics believe that marijuana leads to cultural decline, arguing that today’s strains are far more potent than what was available years back.
Interestingly, Trump, who tends to shy away from anything that dulls his senses, maintains a law-and-order stance. You can often catch a whiff of it in D.C., as policing has to deal with quality of life issues, including the smell of pot.
However, he appears to be tilting towards a compromise on legalization, potentially allowing medical use if there’s clear evidence it alleviates severe pain.
There’s also a political angle at play; the softening stance on marijuana could benefit him as the mid-term elections approach. For instance, there are around 17 million Americans using marijuana regularly, and Trump knows the significance of that number.
Matt Gaetz, a devoted MAGA supporter and former Florida House representative, believes embracing marijuana can strengthen Trump’s appeal among various working-class demographics. He suggests that by rescheduling marijuana, Trump can cater to these voters, noting that even Obama had ambitions to do the same but lacked the resolve.
Mark Cohord, a hedge fund trader and medical marijuana user, is even more convinced that legalizing pot could spell doom for the Democrats. He points out that public opinion is shifting in favor of legalization, which could reshape the GOP into a party for the people.
Trump faces options: he could fully legalize marijuana or merely reclassify it as a Schedule III drug, marking it as a controlled substance with limited medical uses. If he opts for inaction, marijuana will remain a Schedule I drug, seen as highly controlled by the federal government.
Potential Revenue Streams
The stakes are high for the marijuana industry, with potential revenues estimated between $40 billion and $60 billion annually. While many states have legalized or decriminalized marijuana, its banking challenges persist unless the federal government takes steps to remove it from its current classification.
Wall Street’s hesitance to fund Pot Inc. could change if marijuana stocks were supported. If that were to happen, the company could see significant growth as it funds domestic growers.
Still, Trump’s team has skeptics regarding legalization. For example, the Drug Enforcement Administration has a new director with a history of opposing marijuana. Similarly, Robert F. Kennedy Jr. has been vocal about the decriminalization debate.
Many critics worry today’s marijuana strains have hallucinatory effects, potentially leading to the use of harder drugs like opioids. This has led Gaetz to believe Trump won’t pursue full legalization but will likely support medical use only. Roger Stone, a long-time Trump advisor, feels that complete descheduling is unlikely as well.
Cohord argues this hesitance is a mistake. He believes that unless marijuana is fully legalized, its banking operations will remain difficult. Moreover, complete legalization could significantly undermine drug cartels’ revenue, reducing illegal market activity.
In his view, lifting the ban on marijuana could effectively dismantle these cartels.
