The Atlanta rapper, activist and marijuana mogul joined us on "TMZ Live" and made the case why Black people deserve a big piece of the cannabis pie.

The way Killer Mike sees it ... ganja's popularity in America has largely been built on the backs of Black folks, so he says they deserve at least 25 percent of the industry -- profits, licenses, businesses, etc.

While legalization and decriminalization continue to gain traction at the state level, one of the criticisms is the lack of access for minorities to make money off a substance that put so many behind bars. Mike uses prohibition to explain why we're making the same mistake twice here.

Killer Mike's also pushing President-elect Joe Biden to be like Bernie Sanders and pledge to decriminalize dank ... and he shares his protest plans for April 20, the unofficial stoner holiday.