Critical Effects of Marijuana Reclassification

A major shift in U.S. drug policy could be on the horizon as federal leaders debate Marijuana Reclassification. Recently, President Trump promised answers soon on whether the federal government will change the way marijuana is classified under the Controlled Substances Act. This comes after the Biden administration's proposal last year to move marijuana from Schedule I to Schedule III — a decision that would not make it federally legal but would significantly change how it is regulated.

Currently, marijuana sits in Schedule I, the strictest category reserved for substances with no accepted medical use and a high potential for abuse. This classification has long been criticized by researchers, patients, and businesses. The proposed Marijuana Reclassification to Schedule III would acknowledge its medical uses and reduce federal restrictions.

Beau Kilmer of RAND's Drug Policy Research Center explained that this move could have wide-ranging effects. For one, Marijuana Reclassification would open more opportunities for scientific study. Researchers have faced years of obstacles in accessing marijuana for federally approved studies because of its Schedule I status. With a shift to Schedule III, those barriers could be lowered, allowing more robust research into health impacts, medical benefits, and risks.

The business community is also watching closely. Currently, cannabis companies operate in a gray area. They may be legal at the state level but remain illegal federally, which limits their access to banking and subjects them to punishing tax codes. Marijuana Reclassification could allow businesses to deduct ordinary expenses under federal tax law, easing one of the biggest financial burdens on the legal cannabis industry.

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