Related to my take on the Cowen Policy Summit two weeks ago (link), it was reported that the Democratic National Committee’s platform committee rejected an amendment to include cannabis legalization in its 2020 policy plank, notably by a vote of 50-106 against. (link) Instead, the report notes that the platform includes language that only endorses rescheduling, decriminalizing, and legalizing medical cannabis (but not adult-use).
At the same time, amidst the negotiations in Congress over the next Coronavirus relief bill, Senator Mitch McConnell has once again made clear his opposition to including anything having to do with cannabis in the legislation. (link) That includes banking. (link)
I’ll remind you of what I said before: it’s still really hard to predict the future of any federal cannabis legislation or regulation. I’ll now add to that: … regardless of which party controls the White House and/or the Senate in 2021.