There is no mainstream scientific evidence showing that foods containing GMOs are any more or less harmful for people to consume than anything else in the supermarket, despite decades of development and use. If that doesn’t convince some people, they have the option of simply buying food bearing the “organic” label. There is no need for the government to stigmatize products with a label that suggests the potential for harm. Outright bans, meanwhile, are even worse than gratuitous labeling.
The issue is not just one of agribusiness profits, though some companies certainly stand to make money by creating and selling GMOs. The application of current biotechnological tools to agriculture offers a wide array of benefits, benefits that are only beginning to be seen.