The Democrats are holding their convention in Chicago this week and in addition to Vice President Kamala Harris, a winner is marijuana.

The convention is infused with party unity and enthusiasm, as Harris rises in the polls. Delegates also have given a thumbs-up to a party platform that highlights President Joe Biden’s efforts to pardon marijuana offenses and his push to reschedule the drug.

That said, the platform stops short of endorsing the broader cannabis decriminalization that was part of the 2020 agenda. This seems a bit counterintuitive, especially with Kamala Harris, an advocate for legalization, now at the top of the ticket for 2024. However, the Democrats are aiming for the middle ground in the general election.

Of course, the platform takes a few swings at former President Donald Trump, the Republican nominee, criticizing his administration’s anti-cannabis policies.

The Democratic National Committee’s Platform Committee rolled out a draft of its platform last month, before Biden announced his exit from the race. Interestingly, despite the switch in candidates, the marijuana-related provisions remain the same — even though Biden and Harris don’t see eye to eye on federal cannabis policy. Biden has been cautious, while Harris has been pushing for legalization.

The Democratic party is generally pro-legalization, but the culture wars are alive and well. The party still remembers the smear against candidate George McGovern in 1972. The Nixon campaign labeled the liberal McGovern as the man in favor of “Acid, Amnesty, and Abortion.” McGovern was buried in a landslide.

Today, Americans favor legalization by a wide margin, but opposition in ruby red states is fierce.

Regardless, on Monday, during the first day of the convention, the DNC-approved platform proudly touted Biden’s marijuana pardons as one of the “historic steps” he’s taken to advance criminal justice reform.

The platform echoes Biden’s familiar line: “No one should be in jail just for using or possessing marijuana.” It’s a statement that’s become something of a mantra for the president, and the platform doubles down on it, highlighting the harm caused by these convictions—especially to communities of color.

The platform also promises action to expunge federal marijuana-only convictions. Biden may have granted pardons, but he’s had to clarify that this doesn’t erase records; pardons offer forgiveness, not forgetfulness. The Democrats seem determined to keep the pressure on for full expungement.

The DNC isn’t just focusing on the future; it’s also looking back at Trump’s record. The platform takes a jab at Trump’s approach, noting that his administration “threatened federal prosecution for marijuana cases in states where marijuana was legal,” by undoing Obama-era policies that advised against federal crackdowns on state-legal cannabis activities.

As noted above, a large majority of Americans favor legalization. According to the latest polling from Gallup, 70% of U.S. adults currently say that the use of marijuana should be legal, up from 68% in 2022 (see chart).

In 1969, when it began polling on the topic, Gallup found that only 12% of respondents favored legalization. Two years later, in 1971, President Nixon launched his War on Drugs, which proved disastrous and has since been largely dismantled.

At their convention this week in Chi-town, while the Democrats are patting themselves on the back for Biden’s steps toward cannabis reform, they’re also pointing fingers at Trump, emphasizing the stark contrast in their approaches to marijuana policy.

All in all, the new platform is a bit of a mixed bag — part celebration, part critique, and part cautious optimism for what’s to come. But for the marijuana industry, these steps still constitute progress.

WATCH THIS VIDEO: Takin’ Care of Business: 10 Traits of Profitable Pot Firms

The 2024 election season will be pivotal for the marijuana industry, with several states considering initiatives for legalization.

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I’m the editorial director of Investing Daily. I’m also the chief investment strategist of our premium trading service Marijuana Profit Alert.

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