Biden Administration Has Some Cannabis Professionals Feeling Hopeful But Cautious

By Iris Dorbian

The shift in political leadership in the executive branch and the Senate is making some legal cannabis professionals and pundits feel both excited and optimistic about the future. From reactivating stalled cannabis reform laws, such as the MORE Act, which decriminalizes marijuana, to making federal legalization a reality, there is hope that the new Biden/Harris administration coupled with a Democrat-controlled Congress, could perhaps herald an era of promise and progression for the sector.

Yet, because of the ongoing pandemic and recession, the industry might not see significant tailwinds until another two to three years, cautioned Matt Hawkins, founder and managing partner for cannabis-focused private equity firm Entourage Effect Capital.

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