Several marijuana advocacy groups and businesses have unveiled a plan recently that would legalize interstate cannabis commerce despite the drug being federally prohibited.
The Alliance for Sensible Markets campaign will be advocating for governors from both legal and likely soon-to-be legal marijuana states to enter into an interstate compact.
The compact is a constitutionally recognized agreement between two or more states establishing a framework for cannabis to be transported and marketed across state lines.
If at least two states can sign on board, the compact would then been transmitted to Congress and lawmakers could codify the agreement. It may be passed as standalone legislation or attached as an amendment or rider to a broader bill. Oregon’s governor has alraedy indicated she is willing to sign.
The compact would “immediately increase valuations significantly for thousands of farms and businesses on the West Coast, which will spur investment expansion and jobs,” said Adam Smith, founder and president of the Alliance for Sensible Markets, who spoke to Marijuana Moment. “And in consumer states—states that don’t traditionally grow their own cannabis—we have seen the length of time it takes to get state-siloed production industries up and running and supply chains stable.”
“Let’s set up the industry in the newly legalizing states in a way that reflects reality and reflects what the future of this industry is so we can actually grow the industry without wiping a whole bunch of people out,” he added.
Smith’s group will pitch this to Governors: “We’re in the midst of a historic recession and jobs crisis, right? I believe that there is no other industry in the U.S. private sector that is as poised to help the recovery.”
“With this policy change, immediately across producer states, you will see valuations for thousands of farms and businesses increased by multiples, which will spur an immediate wave of investment expansion and job creation. On the east coast in the consumer states, legalizing cannabis with interstate commerce, will mean that they can get industries up and running and stable in six-to-18 months, rather than three years or five years or seven years, spurring an immediate wave of investment, business formation and tens of thousands of jobs just when the states need them. We are looking to partner with the governors and be their partners in economic recovery.”
Groups a part of the campaign include the Minority Cannabis Business Association (MCBA), New York City Cannabis Industry Association, Craft Cannabis Alliance, Global Alliance for Cannabis Commerce and approximately 50 others organizations and companies.
