Can a lawsuit save small cannabis businesses?

Marijuana has become increasingly mainstream. Since 90% of the public is open to it being legal in some form. Companies from Pfizer to Miracle Grow have jumped on board, and other “vice” companies like BAT, Molson Coors and Heineken have entered the $22 billion-plus market. It seems great, but the industry is struggling. Can a lawsuit save small cannabis businesses?

The Biden administration has been incredibly slow to implement his campaign promise to advance federal legalization, Trump’s term has delivered nothing, rescheduling has only just begun, and California and New York continue to struggle. The House has passed SAFE Banking seven times and now the Senate is OK with SAFER Banking and the new Speaker of the House is not a fan of helping the industry. Small businesses continue to struggle.

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Some cannabis companies have turned to superlawyer David Boies, who is suing Attorney General Merrick Garland to overturn marijuana restrictions currently in place under the federal Controlled Substances Act. This could provide the relief that mom-and-pop businesses need.

What the public doesn’t understand and what Congress doesn’t want to address is that owning a small business is a big and difficult undertaking, and federal policy is currently making it even more difficult. Small businesses receive very little tax write-offs, cannot qualify for small business management loans, big banks won’t touch them, and require owners and employees to take out personal loans if they are found to be working for a marijuana company.

Ted Olson, a conservative lawyer who knows Boies and has spoken out against him, said: “His timing is good. This is the kind of thing this court is investigating.”

“An overwhelming percentage of Americans believe that the sale of marijuana should be legal and should also be safe and regulated,” Boies said

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There are currently mixed opinions about cannabis, the public wants it, and Ohio has just transitioned to recreational use only. But Congress is in disarray and the Speaker doesn’t drink, smoke, or swear, or stop his staff from doing any of those things. Perhaps the lawsuit can force the current administration to update laws and help small businesses.