Sometime in 2025, the IRS could stop taxing state-regulated marijuana companies like cocaine kingpins.
As a bonus, licensed marijuana operators might no longer compete with mainstream retailers selling intoxicating THC products that meet the federal definition of hemp.
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Tax reform and some resolution to the civil war between marijuana and hemp are modest asks.
But a future where these longstanding problems are finally resolved would represent a dream scenario for many operators in the $32 billion state-regulated marijuana industry.
That’s a reflection of the steady advances that cannabis reform made in 2024.
The year behind
Cannabis industry progress was slow in 2024.
Congress failed to pass marijuana reform bills, and the Drug Enforcement Administration delayed reclassifying marijuana as a legitimate medicine until this
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