[mfrisbie]

I was on Cannabis Talk 101 recently to talk about this issue specifically: https://www.youtube.com/watch?v=FwOmtBo8sBU

It is not hyperbolic to say that in many states, the cannabis industry is drowning. Far too much regulation, far too many taxes, and no access to capital yields an environment for cannabis SMBs that is effectively impossible to thrive in. The largest multi-state operators are the only businesses that are positioned to survive this downturn.

Contrast this with federal agricultural policy for the past 100 years, in which entire agencies are dedicated to ensuring the health of American agriculture through loans, subsidies, and economic policy. Even though cannabis is the 6th largest cash crop in the US - roughly the same size as cotton, and larger than rice or potatoes, it is being actively crushed underfoot.

Federal legalization is not close, and SAFE banking is not close. The industry as a whole is sliding into an enduring period of stagnation, and legislators are far too slow to act. For people who have been closely following the industry, all of this is completely unsurprising.

[vorpalhex]

You can't really eat cannabis can you? It's much more like alcohol and other vices.

It's not clear that the government should be terribly interested in helping cannabis. We can see why we want a regular food supply (and yes, that includes for animals) but it doesn't seem to be a government interest to make sure everyone can get high.

[mfrisbie]

Up until very recently there was plenty of federal support for tobacco farmers, and you can't eat that either.

If states are going to legalize and tax, then they're obligated to treat these businesses as legitimate - especially with respect to social equity programs that give priority to minority license applicants. If you're sending these licensees into a meat grinder, that's not social equity.

[vorpalhex]

They were insurance subsidies that were stopped a decade ago.

Just because New York runs an unconstitutional licensing scheme doesn't require the federal government to do anything. New York can bail out the people they gave a raw deal to.