5 hours ago. U.S Cannabis could Be Months AwayFederal marijuana legalization could be only months from becoming reality, spurring Washington DC-based MJ advocates to seriously consider a post-prohibition world as they map out political strategies for 2021. Several DC-based nonprofits and trade associations predict a bill to federally legalize marijuana could pass Congress in the near future but only if Democrat Joe Biden wins the White House and his party controls the Senate and the House of Representatives. If that occurs and its not a sure bet the move could become a game changer for the national marijuana industry. If the Democrats do a clean sweep, then descheduling with interstate trade is definitely within the realm of possibility, said Randal Meyer, the executive director of the Global Alliance for Cannabis Commerce (GACC). Descheduling is akin to the cannabis holy grail. It would simultaneously: Legalize marijuana federally. End the 280E tax restrictions. Open banking access. Allow for interstate and international cannabis trade. Descheduling unlocks everything else, including banking, relief on 280E, everything, said Steven Hawkins, the executive director of the Marijuana Policy Project. Its a rock that kills three birds. How it could play out Meyer, a former staffer in the office of Kentucky Republican U.S. Sen. Rand Paul, predicted the Marijuana Opportunity Reinvestment and Expungement (MORE) Act would be the primary vehicle if the Democrats do take the White House and the Senate, in part because its already teed up in the House this year. While legalizing marijuana federally by removing the plant from the federal Controlled Substances Act, the MORE Act would allow states to continue to choose how to regulate a commercial MJ industry. Spokespeople from multiple other trade organizations working in Washington DC echoed Meyers MORE Act prediction. But many questions remain, and much could change depending on the election. If, for instance, Republicans retain control of the Senate or the White House, then the fallback plan for many groups is to focus on piecemeal bills such as the Secure And Fair Enforcement (SAFE) Banking Act. That legislation would enable financial institutions to serve cannabis-related businesses without fear of federal punishment. But should Democrats win big on Election Day, the next question after the presumed passage of the MORE Act or legislation close to it would become the regulatory framework. Cannabis is a food, a drug and a cosmetic. And under the Food, Drug and Cosmetic Act, something cannot be a food, a drug and a cosmetic, by law. So were in a very difficult regulatory place, Meyer said. But, Meyer added, a solution already exists. GACC issued a 66-page draft of a bill that ends cannabis prohibition and creates an all-encompassing regulatory framework that: Allows states to take the lead. Also allows the U.S. Food and Drug Administration and the Alcohol and Tobacco Tax and Trade Bureau to oversee interstate marijuana trade. The National Cannabis Industry Association (NCIA) issued a 48-page white paper touting a similar approach, arguing that a one-size-fits all regulatory framework would be ineffective. My goal is to turn this into legislation, because you need a regulatory structure. You look at Californias example. If you get the regulation wrong, you dont get the outcome you intended, NCIA lobbyist Mike Correia said, referring to a California cannabis regulatory system that has resulted in a booming illicit market, high barriers to entry for entrepreneurs and skimpy profits for legal operators. If we dont (get this right), were going to have 50 Californias out there, and thats the last thing we want, Correia added. Some plans still in the works Other stakeholders, such as the National Cannabis Roundtable (NCR) and the Cannabis Trade Federation (CTF), are still discussing strategy with members and havent chosen a particular approach or bill they want to prioritize next year yet. Step One is trying to get folks on the same page, said Steve Fox, strategic adviser to the CTF. At this point, its really more a matter of hearing from everyone and seeing what stakeholders think and determining where theres consensus around the policies that are needed. Saphira Galoob, a principal at The Liaison Group, which lobbies on behalf of the NCR, said her priority for 2021 is the SAFE Banking Act. She noted House Democrats have included it in their latest coronavirus relief package. (That bill has not yet received any notable support or a vote in the GOP-controlled Senate.) And NCR is in the process of finalizing a regulatory proposal that it will likely present to Congress and the industry, Galoob said. But, she cautioned, the federal regulatory process will be tricky, with many issues to weigh amid differing opinions from member companies based on where theyre from or how their businesses are structured. Were in the process of finalizing a proposed federal framework that will lead with priority principles, Galoob said. Its not an uncomplicated landscape. And its not one route that gets you from end to end. And youre also balancing that folks from California see the rollout differently than folks from the Midwest. When youre balancing industry interests, its a little more complex than just a one-stop approach.