Hey everyone – had to send out this breaking news! On October 6th, President Biden issued pardons for ALL people convicted for simple marijuana possession under federal law! According to Politico this is “…the most extensive White House action taken to date on U.S. drug policy” and I’d concur. In fact this is truly an October surprise! Myself and other industry analyst really didn’t expect this until the next Congress and certainly not before the election.
It all makes sense though. A recent Pew Research survey found that 91% of Americansfavor some form of legalization.
We’re already receiving feedback that many of you now have a “Fear of Missing Out” (FOMO). While we’re 6+ years into the cannabis space, it’s not to late for you. In a strange way, the sector delays have benefited “us” so we can prepare for and enter the space in an orderly manner.
In talking with other cannabis professionals, one observation that emerged was how EVERYONE is going to MJBizCon in mid-November. This show traditionally peaks at 35,000 attendees and roughly 1,500 booths. but with the Biden announcement, myself and others are now predicting 50,000 attendees and perhaps add another hundred booths (hard to add booths at this late date).