Cannabis Musings - April 22, 2024
The DEA doesn't find 4/20 as funny as you do.
Friends – just a quick reminder that, to those of you who thought that maybe, just maybe, there was going to be a rescheduling announcement on or about 4/20, the U.S. Drug Enforcement Administration does not have a sense of humor.
Remember that the DEA is reconsidering cannabis’ scheduling against its will. As I like to say, the state-licensed industry exists as a matter of grace on the part of the federal government. Don’t expect a federal agency whose sole purpose is to enforce anti-drug laws (it’s in the name!) to lean into the joke.
Be seeing you!
© 2024 Marc Hauser and Hauser Advisory. None of the foregoing is legal, investment, or any other sort of advice, and it may not be relied upon in any manner, shape, or form.
Hi Mark. Eaze delivery driver, been reading your musings for a while.
I believe you’ve said before that, if it happens, to expect DEA’s rescheduling decision at the start of summer- as federal agencies like to wrap up work by then in an election year. That makes sense. And politically, it seems to intuitive that Biden could embrace cannabis legalization and “evolve” on the issue for his general election pivot, a la Obama vis a vis same sex marriage in 2012.
At the same time, I’d imagine there are institutionalist hardliners inside the DEA who want nothing to do with the policy change and would like to gum up any decision until after the election.
What do you think is the most likely outcome or forecast for rescheduling? How likely do you think it is to come at the start of summer or before the election? Thank you.