Cannabis Industry Leaders React To Trump Victory: Expect Changes
Cautiously optimistic is one way to look at former President Donald Trump’s electoral win among cannabis industry leaders, some of whom say they are balancing hope for reforms with concerns over regulatory clarity and state autonomy.
As the industry awaits Trump’s direction on cannabis policies, prominent voices highlight what this shift could mean for federal legalization, banking access and the future of psychedelics.
Anthony Coniglio, CEO of NewLake Capital Partners (OTCQX:NLCP), views Trump’s recent endorsement of cannabis reforms as a potential tipping point.
“Trump’s September endorsement of cannabis reforms sets the stage for potential reform in the upcoming Congress,” he said. Coniglio stressed the need for bipartisan collaboration. “To accomplish these goals in a split Congress, it will be critical for politicians to reach across the aisle to find common ground on reforms important to the industry. This is a potential inflection point for the cannabis sector.”
Other industry voices expressed frustration with past inaction by the outgoing government.
Michael Sassano, CEO of Somai Pharmaceuticals criticized the Democratic approach to cannabis reform. “The Democrats have used cannabis as a political football for far too long. They …