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Biden overhauls US policy on cannabis, pardons marijuana-related convictions

FRIDAY, OCTOBER 07, 2022

President Joe Biden on Thursday took executive action to change US policy on marijuana, pardoning all prior federal offences of simple marijuana possession.

“There are thousands of people who have prior federal convictions for marijuana possession, who may be denied employment, housing, or educational opportunities as a result,” Biden said in a statement. “My action will help relieve the collateral consequences arising from these convictions.”

Biden’s actions fulfil a campaign promise and are likely to please members of his left-leaning political base ahead of the November midterm elections in which Biden’s fellow Democrats are defending their control of the House of Representatives and the Senate.

Biden said he had directed Attorney General Merrick Garland to develop an “administrative process” to issue certificates of pardon to those who are eligible.

The president also said he was urging state governors to follow suit.

“Just as no one should be in a federal prison solely due to the possession of marijuana, no one should be in a local jail or state prison for that reason, either,” he said.

Biden said he was asking federal officials to start a review process of how marijuana is “scheduled”, or classified, under federal law. Presently it falls under the same classification as heroin and LSD and in a higher classification than fentanyl and methamphetamine, he said.

“Finally, even as federal and state regulation of marijuana changes, important limitations on trafficking, marketing, and underage sales should stay in place,” Biden said.

“Too many lives have been upended because of our failed approach to marijuana. It’s time that we right these wrongs.”

A senior administration official said more than 6,500 people with prior federal convictions could be affected by the pardons.

Supporters welcomed the move and its impact on racial imbalances in the US justice system.

Shares of cannabis growers and sellers surged following Biden’s comments, with Tilray Brands and Canopy Growth both jumping more than 20 per cent.

The global cannabis industry is forecast to hit US$55 billion in sales by 2026, with the US market growing to $40 billion by then, up from $25 billion last year, according to cannabis-focused research firm BDSA’s September projections.

Industry experts believe US federal reforms could push those figures much higher.

Reuters