Triple good news for the marijuana industry

The marijuana industry has been in a bit of a slump lately, partly its own fault and partly the fault of various governments. But in the last few weeks there has been three pieces of good news.

88% of US adults say marijuana should be legal for adult medical and recreational use. Only 10% think marijuana use shouldn’t be legal. Still, legalization to bring alcohol to a similar level of control and distribution has been slow.

Senator Chuck Schumer’s Safe Banking Act is still stuck in Congress. New York botched the introduction of recreational activities, costing the industry $3.5 billion in legal revenue. And in New York City alone there are over 1,500 unlicensed pharmacies, proving that there is a very robust market. California continues to struggle with political greed, heavy tax burdens on legitimate businesses, and a blind eye to the black market.

The industry itself struggles with costly indoor grows that require high yields, but the market doesn’t always want to pay a flat rate. You could have learned the lesson from the beer industry, but people didn’t learn it.

Despite these headwinds, consumers are increasingly turning to cannabis and legal states are seeing strong sales. And the younger general turns to marijuana more than alcohol. And now for more good news.

The blockbuster clue is that Bloomberg News received a letter from a Department of Health and Human Services (HHS) official recommending that the US Drug Enforcement Agency (DEA) classify cannabis as a Schedule I controlled substance under federal law Reclassify a Schedule III controlled substance. Yes, at least the federal government wants to regulate cannabis again.

Biden is finally fulfilling a commitment he made during his campaign, and early in his tenure the administration has finally made some headway, at a time when the discussion of marijuana has become mainstream.

RELATED: NYC unlicensed shops are doing better than the naked cowboy

The legal marijuana industry is a more than $22 billion industry, slightly less than McDonald’s $23 billion. Yes, the industry is a bit smaller than a fast food chain, which is the next piece of good news. Total alcohol revenue in the US is over $283 billion. More than 10 times that of the cannabis industry. And they have powerful allies in food, restaurants, sports and more that give them a powerful voice in Congress. It seems that the legalization effort has a powerful ally on the road to legalization, whether they like it or not.

The Wine & Spirits Wholesalers of America (WSWA) sent a letter to Congress stating: “[t]”It’s time for Congress to legalize and regulate adult-use cannabis at the federal level” and for the disparity between federal and state cannabis policies to “undermine.”[s] undermines the rule of law and undermines public health and safety, while states are denied support in their efforts to create safe, regulated markets and eliminate dangerous black market activities.”

A connected partner could help move things forward in a deadlocked Congress.

Photo by Samuel Corum/Getty Images)

The final bit of good news is that an end to anti-marijuana leader Mitch McConnell’s reign may be on the horizon. The longtime and powerful Senate leader has been opposed to any form of support for the industry (other than hemp in favor of his home state). A new Dale Report poll sheds light on the most admired and least favored senators and voter opinions in their respective states. Perhaps unsurprisingly, cannabis-hating Republican Senate Majority Leader Mitch McConnell came out on top as the most unpopular senator in America.

Even Congresswoman Mace, a big supporter of legal cannabis, acknowledges that McConnell will have the final say on the country. However, recently his health condition has been a cause of great concern, as he has not been able to speak twice at regular press conferences. Even the Republican leadership is concerned about his ability to continue, which could mean the impasse is finally ending.

RELATED: Science explains how marijuana inspires awe

That’s good news for an industry that helps veterans with post-traumatic stress disorder, lets people get a good night’s sleep, and relaxes them without the harm of alcohol.