Our first ever live, studio audience recording for the High-Rise! We had the privilege of interviewing cannabis advocate Kris Krane live on stage at Benzinga Chicago 2023. Krane reflected on his over 25 years of involvement in the cannabis industry and policy reform efforts. It was great to see everyone there, I think we'll have to do it again soon!
If you missed it, here are some of the things we talked about:
Early Beginnings in Cannabis Advocacy
Krane's journey with cannabis began in 1996 when he was a student activist at American University. He helped found Students for Sensible Drug Policy (SSDP) in 1998 to advocate for drug policy reform. Krane also worked at NORML as Associate Director in the early 2000s, lobbying for medical cannabis reforms at the state level.
According to Krane, victories were few at the federal level during the George W. Bush administration. The focus was on public education, building momentum, and winning medical marijuana ballot initiatives.
Pivoting to the Industry Side
In 2009, Krane started consulting for cannabis businesses, helping launch professional retail stores and dispensaries. He saw the industry as an extension of his advocacy work - a way to demonstrate what a post-prohibition world could look like.
Krane went on to start the cannabis company Forefront, which became a publicly traded multi-state operator. He now works with KCSA Strategic Communications on cannabis projects while continuing advocacy work.
Reflecting on Legalization Victories
Krane reflected on the historic 2012 election night when Colorado and Washington legalized adult-use cannabis. After over 15 years of advocacy work, the victories brought "unadulterated joy" and represented a paradigm shift.
According to Krane, legalization helped open up public conversations and accelerate acceptance across the country. In just one year, national support for legalization jumped from 50% to 60%.
The Illinois Cannabis Market
As a current resident, Krane discussed dynamics of the Illinois market. He explained how the state became a hub for multi-state operators. However, more supply is still needed to reduce prices and combat the illicit market. Heavy taxation also drives legal market prices up.
Krane expects continued growth in Illinois as more dispensary and cultivation licenses are issued. The state has created a welcoming environment, evidenced by the governor speaking at Benzinga's cannabis event.
Overall, the interview provided fascinating insider perspective from one of the pioneers of the legal cannabis industry and advocacy world. Krane gave firsthand accounts of pivotal moments in cannabis history over his 25+ year career.