Don Murphy on Cannabis Legislation and GOP Views
The TDR Three Key Takeaways regarding Don Murphy and Cannabis Legislation:
- He noted that contrary to popular belief, Republicans are not strictly adhering to ideological politics regarding cannabis.
- Don Murphy urges cannabis sector engagement at political events.
- Rescheduling cannabis from a Schedule I to a Schedule III substance could significantly reduce legal hurdles and potential penalties associated with cannabis.
The discussions at the Republican National Convention (RNC) highlighted the shifting dynamics of cannabis legislation and the need for strategic industry engagement. Don Murphy, founder of the American Cannabis Collective, shared valuable insights into these developments during yesterday’s “Trade to Black” podcast.
Murphy emphasized a significant shift in the Republican Party’s approach to cannabis. He noted that contrary to popular belief, Republicans are not strictly adhering to ideological politics regarding cannabis. “Democrats play identity politics, but Republicans do not play ideology politics. I shouldn’t be here if Trump is so bad as folks might think… If he was so bad on cannabis, I would have been vetted and tossed out,” Murphy stated.
This stance is further underscored by the openness of many GOP members to discuss cannabis issues. Murphy highlighted the general acceptance of cannabis discussions among influential Republicans, indicating a broader cultural shift within the party. “Just being here sort of amplifies that a little bit, sort of brings it to their attention one more time in a setting that they are not used to seeing this,” he added.
A recurring theme in Murphy’s discussion was the cannabis industry’s missed opportunities in engaging with key political figures. He stressed the importance of the industry’s presence at significant political events to advance the conversation and secure legislative wins. “The industry should be here. There are one hundred and twenty-five most conservative, influential Republicans in Florida… If measure three, amendment three is going to pass and you want to get to those people, this is where they are,” Murphy urged.
Murphy lamented the absence of industry representatives at the RNC, highlighting the need for proactive engagement. “They’re not going to hear that comment this week… I’m going to take a little shot at the industry. You guys should be not you, but well, you should be here. But they should be,” he pointed out.
The importance of the SAFE Banking Act and potential rescheduling of cannabis were key points in Murphy’s discussion. The SAFE Banking Act aims to provide a legal framework for cannabis businesses to access banking services, a critical step towards normalizing the industry. “Project Chokepoint gets fixed with SAFE Banking. I should change the name and call it the Project Chokepoint Fix Bill or something, because that’s of more value to most Republicans than SAFE Banking,” Murphy explained.
Rescheduling cannabis from a Schedule I to a Schedule III substance could significantly reduce legal hurdles and potential penalties associated with cannabis. Murphy expressed confidence in this potential change, stating, “I think President Trump, like many other people, knows folks who are using marijuana for medical purposes and so that’s why I think Schedule 3 is so safe.”
Murphy also touched on the political strategy surrounding cannabis legislation. He emphasized that while Trump’s stance on cannabis rescheduling remains uncertain, he is likely aware of its popularity. “I don’t see Donald Trump sticking his finger in the eye of 80% of Americans,” Murphy remarked.
Don Murphy emphasized the need for proactive political engagement in the cannabis industry. His insights from the RNC highlight the importance of advocacy and building relationships with policymakers to support the industry’s growth. Want to be updated on Cannabis, AI, Small Cap, and Crypto? Subscribe to our Daily Baked in Newsletter!