This is quite shocking, John Boehner of all people has decided to get involved in the cannabis space. On one hand, this may somehow persuade old fashioned American that the tide is turning towards cannabis legalization, which would be great for cannabis investors. On the other hand, there is something very cringeworthy when a previously pessimistic public figure such as this has an ‘awakening’, when it’s quite obvious they are just following the money. It seems extremely inauthentic.
Every week there is a new high status figure who is stepping into the ring. Most of the time however, it does not feel genuine. It often contradicts many things they have said in the past, and while people do change their opinions as the world evolves, the timing on this is a bit suspicious. Why now? In 2011, he said he was “unalterably opposed to the legalization of marijuana or any other FDA Schedule I drug.”
My guess is that it’s a good financial opportunity to get in early to a sector that will almost surely explode in the US in the coming years. In Colorado in 2017 alone legal cannabis profits were nearly 2 billion dollars. Colorado has a population of 4.5 million, compared to the total US population which is over 300 million. The economic benefit to the nation is a huge untapped potential, and people like Boehner will most likely continue to step forward with a sudden change of heart as this economic benefit becomes more and more obvious.
Who knows, maybe Jeff Sessions will be next.