Mike Tyson, renowned boxing champion and cannabis entrepreneur, and Weldon Angelos, who received a full presidential pardon for marijuana offenses, say they’re optimistic about President Donald Trump’s recent support for marijuana reforms.
Weldon Angelos (left) and Mike Tyson (right).
Both Tyson and Angelos have seen firsthand how the cannabis industry can transform lives and believe Trump’s commitments to reschedule marijuana, expand banking access, and grant clemency could mark a turning point for justice and economic opportunity. They say they’re “optimistic” that change will happen under Trump’s second term.
For years, cannabis reform has been a broken promise in Washington. While President Joe Biden campaigned on decriminalization and expunging records, his actions have largely fallen short. His widely publicized misdemeanor pardons left thousands in federal prison, with Biden choosing not to commute their sentences despite a strong push from advocates in the final weeks of his term. He was the first president since Jimmy Carter to support decriminalizing marijuana, but he did little to push the issue and didn’t endorse any specific legislation that would accomplish it.
Angelos, who served 13 years of a 55-year sentence for marijuana offenses, worked with Trump’s administration on criminal justice reforms, including the First Step Act. His personal experience with Trump’s willingness to act decisively fuels his confidence in Trump’s commitments to cannabis reform. Tyson, founder of the global cannabis brand TYSON 2.0, highlights marijuana’s potential to drive innovation, wellness, and entrepreneurship. Having known Trump for decades, Tyson trusts his ability to deliver on promises and bring meaningful change to outdated cannabis laws.
Under current federal law, marijuana remains a Schedule I drug, classified alongside heroin. This designation prevents cannabis businesses from accessing banking services, forcing them to operate in cash and creating significant risks. Despite controlling Congress and the presidency for two years, Democrats failed to address these issues, leaving the cannabis industry and incarcerated individuals in limbo. former-Senate Majority Leader Chuck Schumer promised for nearly two years that he would put the SAFER Banking Act to a vote of the full Senate, but didn’t do so before losing his position as Senate leader.
Biden did begin the process to reschedule marijuana, but DEA hearings set to start yesterday were cancelled by a judge, putting the issue on hold for the time being.
Trump’s recent support for rescheduling marijuana, expanding banking access, and granting clemency underscores his understanding of what’s at stake. The cannabis industry is a multi-billion-dollar market employing hundreds of thousands of Americans and generating significant tax revenue, yet federal prohibition stifles its growth. At the same time, thousands remain incarcerated for marijuana-related offenses, often serving disproportionately harsh sentences for actions now legal in much of the country.
Tyson and Angelos agree that addressing these injustices is critical. They share Trump’s view that it’s time to “pass common sense laws, including safe banking,” and ensure no one remains in prison for something now legal in many cases. Both Tyson and Angelos say they plan to continue lobbying Trump to accomplish these goals.
Tyson and Angelos believe that rescheduling marijuana and granting clemency are not partisan issues, and they say Trump has the vision and determination to achieve what others could not. Whether or not that will actually happen is yet to be seen.
