On Thursday, former U.S. Vice President Joe Biden pardoned thousands of people who were convicted of marijuana possession under federal law, calling his administration would review whether cannabis should remain in the same legal category as drugs like heroin and LSD.
According to Biden, thousands of people who have former federal convictions could be banned from employment, housing, or educational opportunities. His executive action would lighten these “side effects.”
The pardons will apply to everyone convicted of simple possession on federal charges since the offense became a felony in the 1970s. According to officials, comprehensive data was not readily available, but approximately 6,500 people were convicted of simple possession between 1992 and 2021, not including lawful permanent residents. People who were imprisoned under District of Columbia drug laws; officials predicted that there were thousands among them.
What this mass pardon means for those convicted of marijuana possession
People convicted of selling or distributing marijuana will not be eligible for pardons. There are no individuals currently incarcerated in federal prisons solely for marijuana possession, according to authorities. However, the initiative will assist prospective employees, renters, students, and others in overcoming barriers while attempting to get a job, find housing, apply to college, or access federal benefits.
The vice president urged state executives to follow his example for persons convicted of simple possession charges on the state level, who vastly outnumber those charged under federal legislation.
“Too many lives have been upended because of our failed approach to marijuana,” said Biden. “It’s time that we right these wrongs.”
In his statement, Mr. Biden said, “Cannabis is classified as a Schedule I drug, the same as heroin and LSD, and more dangerous than fentanyl. It makes no sense.” He urged the Secretary of Health and Human Services and Attorney General to examine how cannabis is classified in federal law.
The move was supported by many and its impact is said to equalize racial disparities in the U.S. justice system.
Al Sharpton, president of the National Action Network civil rights group said:
“The United States will never justly legalize marijuana until it reckons with the outdated policies that equated thousands of young Black men with hardened drug pushers”.
“They were thrown behind bars for years on end for simple possession, a non-violent offense, for a substance that red states and blue states are now legalizing at a furious clip.”
What does this mass pardon mean for the cannabis industry?
While many states have legalized the medical or recreational use of cannabis, most major banks have avoided doing business with cannabis firms due to their illegal status under federal law.
The cannabis industry is forecast to bring in $55 billion globally by 2026, with the U.S. accounting for $40 billion of that total. That would represent a significant increase from last year’s sales figures of $25 billion, according to projections from September by BDSA, a research firm focused on the cannabis industry.
Industry experts believe that, due to federal changes, those numbers will rise significantly higher.
Biden’s move is a small victory in the long fight to decriminalize cannabis and pardon those serves. Even though there is still progress that needs to be made, this marks an important milestone that we have reached together.
