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How Congress Could Dramatically Change Cannabis

By Shadd Dales On Oct 25, 2024

Anthony Coniglio, CEO of NewLake Capital (OTCQB: NLCP), joins hosts Shadd Dales and Anthony Varrell again on the Trade To Black podcast for Friday. We’ll be taking a closer look at what scenarios could unfold for the cannabis industry following the US Federal Election on November 5, 2024. What will the future look like for cannabis reform if Kamala Harris wins? How big a part will the president play in any cannabis reform if congress doesn’t cooperate? And what are the Department of Justice’s current priorities? We’ll talk about that too.

We have talked about the presidential hopefuls and their stances on cannabis, but we don’t as often turn an eye towards what is happening in the other legislative branches. No matter who wins the elections on November 5^th, Senate and the House will have a say on whether cannabis legislation moves forward. The president cannot dictate policies like SAFE Banking and federal cannabis policy alone.

We’ll explain why the president can’t do it, but we’ll also explore some of the potential scenarios as to how they might do it. Join us as we create two to three scenarios of what a Kamala Harris presidency or a Trump presidency would look like for rescheduling and really overall advancing cannabis reform.

With a chance to improve support for cannabis in congress, we analyze key figures like Sherrod Brown (D-OH) and Jon Tester (D-MT). Both Brown and Tester face competitive re-election campaigns, and polling suggests each of them is in a tight race against Republican challengers who are less supportive of cannabis. We’ll also take a look at some of the possible successors to Mitch McConnell and their stances, specifically Steve Daines, John Thune, John Cornyn, and Rick Scott.

We’ll also examine how potential Department of Justice and Treasury appointments, including Mike Lee and Bobby Jindal, could influence SAFE Banking and federal cannabis policy. While executive and legislative actions are required for full legalization, the DOJ holds substantial power over rescheduling and decriminalization.

Shadd Dales

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.