Before the Trump era dawned on us and caught more than a few asleep, fate seemed to be looking down its nose at medical marijuana. This was, let’s face it a historic workaround for some users hardly classifiable as patients. They had no problem going through the hoops and paying for prescriptions.
Things have been looking a bit grim lately for medicinal strains since Proposition 64 passed the test. Users in the grey area are ready to jump ship anytime soon. Moreover, until medical insurance comes on board and pays for marijuana as medicine (RX), the genuine few will be tempted to follow suit.
The Implications of the ‘Cannibalization of Cannabis’
The Motley Fool had interesting things to say about this on January 1 this year. It thinks the ‘cannibalization of cannabis’ could threaten the long-term sustainability of the medical marijuana industry. While it is true the under 21’s will theoretically still need to see a doctor, there are similar illegal workarounds as happens in the case of alcohol. For this reason, most pot clinics are rebranding to include other forms of alternative medicine.
The incoming attorney-general of the United States Jeff Sessions could upset the well-packed apple cart soon. He is an avowed adversary of marijuana in any form, and will have the support of the U.S. Drug Enforcement Agency in an emerging bromance. Since Mr. Trump has come out strongly in support of medical marijuana already, the fall guy could well be the recreational variety.
How Jeff Sessions May Respond
Deputy Attorney General James Cole called the federal law enforcement dogs off during the Obama era, by suggesting there were better things to do than hounding marijuana users in packs. This created an uneasy truce between the Feds and the State of California. There is no strictly legal reason why this arrangement should continue.
We believe that Sessions may indeed roll back the days of Obama lenience. Certainly, this seems to be an emerging trend of the new presidency elsewhere. However, with medical marijuana already legal in 29 U.S. states plus Washington DC, he may face a backlash on what has potential to become an emotive issue.
By contrast, recreational marijuana seems wide open to pushing back. We are sailing into murky waters. At the very least, the Food and Drug Administration is likely to enforce the nitty gritty. This is not the time to cut corners. It is the time to seek sage advice before investing.