2024 Presidential Candidates Outline Contrasting Visions for Cannabis and Psychedelics Reform

1.4 min readPublished On: October 17th, 2024By

LOS ANGELES- The 2024 presidential election is showcasing a diverse range of positions on cannabis and psychedelics reform, reflecting the evolving landscape of U.S. drug policy. Prominent candidates across both parties have taken varying stances, focusing on issues such as medical access, criminal justice reform, and veterans’ care.

Former President Donald Trump has shifted his position in favor of more lenient cannabis laws. While his administration previously upheld federal prohibition, Trump now supports the decriminalization of small amounts for personal use, stating that arresting individuals for minor possession wastes taxpayer dollars. He has also expressed support for state-level cannabis legalization, recently endorsing Florida’s efforts to legalize recreational cannabis. Trump’s stance is largely driven by economic considerations and states’ rights, favoring cannabis banking reforms to benefit legal businesses​

In contrast, President Joe Biden has focused on incremental reforms. His administration proposed rescheduling cannabis to a lower classification (Schedule III), which would ease research restrictions and allow cannabis businesses to take federal tax deductions. While Biden stopped short of full federal legalization, he has emphasized his administration’s clemency efforts, including mass pardons for individuals convicted of non-violent cannabis offenses​

Meanwhile, candidates like Marianne Williamson and Vivek Ramaswamy are advocating for expanded access to psychedelics. Williamson supports decriminalizing certain substances, like psilocybin, for therapeutic use, particularly in mental health treatments. Ramaswamy also backs the decriminalization of psychedelics for veterans suffering from PTSD, citing the need for alternative treatments to address the mental health crisis​

As drug policy becomes an increasingly central issue in the election, these contrasting positions highlight the divergent paths candidates envision for cannabis and psychedelics reform in the U.S.

About the Author: HCN News Team

The News Team at Highly Capitalized are some of the most experienced writers in cannabis and psychedelics business & finance. We cover capital markets, finance, branding, marketing and everything important in between. Most of all, we follow the money.

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