At the recent Benzinga Cannabis Capital Conference, actor and cannabis advocate Jim Belushi took center stage to deliver a powerful message about the urgent need for cannabis policy reform. As the founder of Belushi’s Farm, he’s not only deeply invested in the cultivation of cannabis but also in shaping a more equitable and progressive future for the plant.
Belushi’s passionate advocacy for cannabis reform revolves around three key pillars: banking, taxation, and the outdated Schedule I classification. Using Illinois as a prime example, he highlighted the stark disparity in how cannabis and alcohol are treated, particularly when it comes to taxation. “Last year, they collected $474 million in cannabis taxes and $272 million in liquor taxes. And there are a lot more liquor stores and bars than dispensaries,” Belushi pointed out, underscoring the disproportionate burden placed on the cannabis industry.
He further emphasized the need to remove cannabis from its Schedule I drug classification, arguing that it stifles innovation and creates unnecessary obstacles for businesses. “Let’s get it off Schedule I. Let’s pass the Banking Act. Let’s bring down some regulations and over-taxation,” he urged, emphasizing the need for a more level playing field.
Beyond the economic implications, Belushi also passionately advocated for cannabis as a safer alternative to alcohol and a valuable tool for healing. Drawing on personal experience, he highlighted the potential for cannabis to provide relief from anxiety, trauma, and addiction. “Cannabis is a gentler alternative than opioids or overuse of alcohol to suppress anxiety and trauma,” he said, emphasizing its potential for therapeutic benefits.
Belushi’s commitment to cannabis reform extends beyond the business realm. He sees it as a movement for broader social change, a path towards a healthier and more compassionate society. His powerful words and unwavering commitment are a testament to the transformative power of cannabis, not just as a plant, but as a symbol of hope and healing.
His advocacy resonates with the growing public awareness of the plant’s potential and the need for responsible policy reform. Belushi’s voice joins a chorus of voices calling for a more equitable and progressive future for cannabis, one that recognizes its potential for economic growth, therapeutic benefits, and social justice.