The Department of Health & Human Services is recommending to the Drug Enforcement Agency to re-categorize marijuana from a Schedule I drug to a Schedule III drug, which would place it in the same group as anabolic steroids. State Senator Gregg Schmedes expresses concerns about pediatric cannabis exposure, while CEO of Smokin' Dispensaries highlights the medical benefits. The impact on New Mexico and the cannabis industry, as well as the timeline for any changes, will be discussed in a news segment tonight.
The U.S. Department of Health and Human Services has requested the Drug Enforcement Agency (DEA) to consider loosening restrictions on marijuana by moving it from a Schedule I to a Schedule III drug classification. This could have significant implications for the cannabis industry, including new tax opportunities, potential for interstate commerce, expanded research, and increased investor interest. However, federal legalization and access to banking services for the industry still require further legislative action. The DEA is expected to make a decision before the 2024 presidential election.
The US Department of Health and Human Services has recommended that the Drug Enforcement Agency (DEA) loosen federal restrictions on cannabis, calling for its reclassification from a Schedule 1 drug to a Schedule 3 drug. This move, if approved, would align cannabis with substances having a low potential for dependency and abuse. While the recommendation falls short of removing cannabis from the Controlled Substances Act altogether, it could pave the way for further research and allow the cannabis industry to operate more freely. The proposal comes as public opinion in the US increasingly supports some form of cannabis legalization, with 40 out of 50 states having already passed laws allowing its use in some capacity.
The Biden administration's Department of Health and Human Services (HHS) has recommended that the Drug Enforcement Agency (DEA) loosen federal restrictions on marijuana by moving it from Schedule I to Schedule III under the Controlled Substances Act (CSA). This recommendation, based on a review conducted by the Food and Drug Administration (FDA), could be the biggest change in federal drug policy in decades. However, the HHS stopped short of advising complete removal of marijuana from the CSA. The DEA has the final authority to schedule or reschedule a drug, and it will now initiate its review. Rescheduling cannabis to Schedule III could have significant implications for the cannabis industry, including lower federal taxes and easier access to banking services. It could also facilitate research on cannabis and the development of cannabis-based pharmaceuticals. However, advocates argue that rescheduling alone does not address the issue of criminalization.
