In a mature market like Washington's, which will celebrate 10 years of legal sales on July 8, there's not much room for major change in 2024. Instead, observers should be on the lookout for tweaks to the way the state manages the cannabis industry.
Consumers could finally see the impact of Washington's cannabis social equity program, an effort to expand opportunity in the cannabis industry for groups and communities disproportionately impacted by prohibition.
This past fall, 40-plus applicants were informed by the state that they had been awarded a cannabis license as part of the program. The state is now considering expanding the program, with public comment open until Feb. 4.
Broader change could come across the nation and at the federal level.
Legalization is set to appear on the ballot in 2024 in three states: Florida, Nebraska and South Dakota. Florida looks to be the most likely of the three to join the legal club. A December poll from the University of North Florida found that 67% of voters intend to vote for legalization.
At the federal level, the Biden administration has an opportunity to make the most drastic change to cannabis policy in over five decades. Unlike in years past, there's real reason to believe it might happen in 2024.
In September 2022, the Biden White House announced its intention to review cannabis' position on Schedule I of the Controlled Substances Act. In August 2023, the Department of Health and Human Services announced it had completed the review, recommending that cannabis be moved from the ultra-strict Schedule I to the more loosely regulated Schedule III.
That doesn't mean the Biden administration is eyeing legalization, but rather something closer to decriminalization. Currently, cannabis sits alongside fully illegal drugs like heroin and LSD on Schedule I.
Should cannabis be moved to Schedule III, it would be regulated similarly to anabolic steroids and low-level, opiate-based pain relievers like Tylenol with codeine.
Beyond the HHS recommendation in response to the Biden administration's call for a review, there's a more cynical reason to believe the White House may push forward with such a move: Biden is running for reelection in 2024.
Cannabis has proven to be a strong motivator to bring people to the ballot box, especially younger voters. Scanning over recent headlines, voter apathy appears to be on the rise and a serious issue for Biden. It would not be crazy for the president to look to cannabis for some election magic. ♦
