Things are heating up for cannabis this summer

This summer, temperatures aren’t the only thing rising – the cannabis market is heating up too, and changes are afoot.

It's the season of high temperatures, travel, grilling, and more. And as a bonus, this year is a hot summer for cannabis. The industry is holding its breath as the current administration slowly moves toward rescheduling, Florida is once again setting the stage for a battle between the governor and his residents, and Ohio is issuing licenses as the marijuana market reopens.

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The cannabis industry is beginning to dig itself out of the mess created by over-indulgence, government regulation, and a lack of tax breaks for small family-run businesses. And it seems the Biden administration is finally taking debt restructuring seriously, as both President Biden and Vice President Harris have used it as a talking point in their speeches.

The Drug Enforcement Agency (DEA) was not exactly enthusiastic, even though both Health and Human Services (HHS) and Food and Drug Administration (FDA) recommended the change. Several key federal health agencies recently attended a conference to discuss marijuana science and policy considerations for researchers conducting cannabis studies, but the DEA canceled their participation. Currently, the DEA is in a 60-day public comment period and will continue after that. Fall appears to be the time when a final decision will be made.

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Florida has voted on marijuana three times. The first time, the medical proposal passed by 60% and the then-popular governor declared it wasn't enough. The second time, it passed by over 70% and the governor said the public was confused. Now it's the third time and the governor doesn't want a vote and, more importantly, support from his citizens. But things have changed. With problems growing and an increasingly negative view of his nanny state policies, DeSantis is barely reaching 50% approval ratings. In a new Fox New poll, 66% of the state favors expanding legalization. The poll also includes Republicans in favor of greater availability of the plant, at 57%. It seems DeSantis is once again swimming against Florida's wishes.

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Ohio, the state where seven U.S. presidents were born, is preparing to sell recreational marijuana in dispensaries. Ohio's 132 medical marijuana dispensaries can now apply for a permit to sell recreationally. That means marijuana could be sold to the adult public starting in mid-July. And most likely, it means most Buckeyes should have access by late summer. And it means the end of the year will be a boon to the state's tax coffers. The smaller state of Missouri made over $1 billion in revenue in its first year, so the state budget should look good next year.