TDR Exclusive: Adam Goers Discusses Rescheduling Efforts
The TDR Three Key Takeaways from Adam Goers regarding The Cannabist Company and Rescheduling Efforts:
- Adam Goers noted that 92.75% of respondents during the comment period supported rescheduling cannabis, reflecting strong public approval.
- Goers said, “The President is there on this issue, but the Vice President is way above and beyond on cannabis reform,” highlighting the Biden administration’s commitment to cannabis rescheduling.
- Goers emphasized, “Delawareans are going to be able to 21 and up, purchase adult-use cannabis, and they’re going to be able to purchase at a cannabis store,” indicating the significant market opportunities in Delaware.
Adam Goers, Senior Vice President of Corporate Affairs at The Cannabist Company (Cboe CA: CBST, OTCQX: CBSTF), provided detailed insights into the company’s activities and the broader cannabis regulatory environment. Speaking on the “Trade to Black” podcast this Thursday, Goers discussed the progress in rescheduling efforts, political dynamics, and market opportunities in states like Delaware and Virginia.
Goers emphasized the strong public support for rescheduling cannabis, with 92.75% of respondents favoring this standing during the comment period. “Rescheduling is incredibly popular,” Goers stated. This overwhelming support reflects a significant shift in public opinion towards cannabis legalization.
Understanding the political process is crucial for rescheduling. Goers noted, “The President of the United States has spoken about this publicly so many times, calling on his administration to expeditiously get this done.” He is optimistic about the timeline, predicting that the final rule on rescheduling will be established shortly after summer, with no Administrative Law Judge (ALJ) hearings required.
The Biden administration has played an important role in cannabis reform. Goers highlighted that both President Biden and Vice President Harris have been vocal supporters of this issue. “The President is there on this issue, but the Vice President is way above and beyond on cannabis reform,” Goers remarked. He believes that rescheduling will likely occur before the upcoming election.
Looking ahead, Goers remains optimistic but cautious. He identified the possibility of an ALJ hearing as a potential concern but emphasized the coalition’s proactive efforts to address this issue. “We’ve articulated a case for why there should not be an ALJ hearing,” he explained. The industry is closely monitoring the administration’s actions, with Goers noting, “Everything that we see in all the discussions we’re having with the administration are positive.”
Delaware is emerging as a key market for The Cannabist Company, with Governor John Carney fast-tracking adult-use cannabis sales. The process is set to begin early next month, and the state expects to generate over $43 million in tax revenue. Goers expressed confidence in this development, stating, “Delawareans are going to be able to 21 and up, purchase adult-use cannabis, and they’re going to be able to purchase at a cannabis store.” The company is well-positioned in Delaware, with established dispensaries ready to meet the demand.
Virginia’s political situation is more complex, but there are hopeful signs for future cannabis legalization. Governor Glenn Youngkin has not supported adult-use cannabis, but Goers is hopeful that a new administration could change this stance. He highlighted Abby Spanberger, a leading candidate for governor, as a potential ally for cannabis reform. “Abby Spanberger is going to be governor, Democrats and Republicans involved in politics will tell you that,” Goers predicted. He anticipates that Virginia could see adult-use cannabis sales by mid-2026, marking a significant market expansion for The Cannabist Company.
Adam Goers’ insights provide a hopeful outlook for the future of cannabis rescheduling and the strategic growth of The Cannabist Company. Public support for rescheduling is strong, and the political will is gradually aligning with this sentiment. The company’s proactive stance in key states like Delaware and Virginia positions it well for future success. Want to be updated on Cannabis, AI, Small Cap, and Crypto? Subscribe to our Daily Baked in Newsletter!