Cannabis Industry Quarterly Update: Q1 2024

 

If the Federal Government reschedules marijuana, experts believe it could lead to a cascade of state-level changes.

There is growing evidence that Joe Biden’s administration is working on moving marijuana to Schedule III of the Controlled Substance Act (CSA), a change from its current listing on the maximally restrictive Schedule I. That would lessen the tax burden on businesses selling the drug in states where it is legal, and potentially change how police agencies view enforcement of marijuana laws. However, some advocates believe this would not resolve conflicts between state and federal laws.

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