Women's Cannabis Chamber of Commerce’s Post

A monumental step in the right direction with the groundbreaking news that the DEA is taking strides to reclassify marijuana as a less dangerous drug. This historic shift marks a significant turning point in American drug policy, with potential ripple effects across the nation. The proposal, which acknowledges the medical benefits of cannabis and its lower potential for abuse compared to many other controlled substances, represents a step forward in removing the stigma surrounding cannabis. By recognizing its therapeutic value, this move paves the way for greater acceptance and integration of cannabis into mainstream society. What's particularly encouraging is that this reclassification could foster a harmonious coexistence between hemp and cannabis, facilitating their growth and regulation together. It bridges the legal gap that has long divided the industry, offering new opportunities for innovation and collaboration. Hemp has been a trailblazer in the legal realm, and it's a good reminder that making these products accessible helps the well-being of consumers and boosts the economy. https://lnkd.in/gQbbE3bq

Today the Attorney General initiated the formal rulemaking process to move marijuana to Schedule III of the Controlled Substances Act. Unfortunately, the DEA’s notice of proposed rulemaking totally sidesteps the hard questions of what to do with the existing adult use and medical cannabis markets! The large majority of the 92 page document summarizes and comments upon the prior HHS recommendations on rescheduling and related legal concerns, such as compliance with international treaty obligation. DEA emphasizes that if marijuana is transferred to Schedule III, “the manufacture, distribution, dispensing, and possession of marijuana would also remain subject to applicable criminal prohibitions under the CSA,” and that “marijuana would remain subject to applicable provisions of the FDCA.” With respect to the critical questions on impact to the state cannabis markets, however, DEA is silent and merely solicits public comment, stating: “DOJ recognizes this action may have unique economic impacts. As stated above, marijuana is subject to a number of state laws that have allowed a multibillion dollar industry to develop. DOJ acknowledges that there may be large impacts related to Federal taxes and research and development investment for the pharmaceutical industry, among other things. DOJ is specifically soliciting comments on the economic impact of this proposed rule. DOJ WILL REVISE THIS SECTION AT THE FINAL STAGE IF WARRANTED AFTER CONSIDERATION OF ANY COMMENTS RECEIVED.” (all-caps added). This is disappointing and does not bode well for a smooth transition. The notice of proposed rulemaking can be found here: https://lnkd.in/ggrn4e7A #cannabis #marijuana #cannabisindustry #cannabislaw #THC #hemp #wilsonelser

𝗨𝗦 𝗖𝗵𝗮𝗻𝗴𝗲𝘀 𝗖𝗼𝘂𝗿𝘀𝗲 𝗼𝗻 𝗠𝗮𝗿𝗶𝗷𝘂𝗮𝗻𝗮 𝗥𝗲𝘀𝘁𝗿𝗶𝗰𝘁𝗶𝗼𝗻𝘀 Discover how the DEA's groundbreaking decision to reclassify marijuana as a Schedule III drug recognizes its medical potential and lowers its abuse classification. This historic move could transform medical research and the cannabis industry in the U.S. Dive into the full details and implications of this policy change.

Wisconsin's journey towards cannabis reform takes a new turn as Governor Tony Evers shows a willingness to support a Republican-led medical marijuana initiative. Recognizing the challenges of achieving full legalization, Evers pragmatically opts for gradual change. This approach mirrors the state's public sentiment, where a majority favor legalizing cannabis. It's a lesson in the art of compromise and progress in policy-making, proving that small steps can lead to significant changes. #wisconsin #medicalcannabis #policymakers #cannabisjobs #policychange

There has been a major shift in the cannabis industry as the U.S. Drug Enforcement Administration considers reclassifying marijuana from Schedule I to Schedule III. This historic move could have far-reaching implications, potentially unlocking new opportunities and easing burdens for legal cannabis businesses. Currently legal for medical or recreational use in numerous states, marijuana’s federal classification as a Schedule I drug has posed challenges for the industry. However, reclassification could be a game-changer. It may allow cannabis companies to deduct business expenses from federal taxes, expand research possibilities, and offer protections for medical marijuana consumers. While reclassification won’t solve all industry woes, it’s a step in the right direction. Challenges like interstate trade restrictions and banking limitations would remain, but initiatives like the SAFER Act could gain traction, opening doors for improved financial services for cannabis businesses. #CannabisIndustry #Legalization #BusinessOpportunities #IndustryInsights

The reclassification of marijuana by the U.S. Drug Enforcement Administration (DEA) from Schedule I to Schedule III is expected to have significant implications for American drug policy, societal attitudes, and the cannabis industry. This shift, driven by evolving public perception, scientific evidence, and political pressure, marks a pivotal moment in the national conversation about cannabis. By examining the interplay between federal and state legislation, public opinion, and societal attitudes, we aim to explore the complex ramifications of marijuana reclassification and its implications for the future of cannabis policy in the United States. #MarijuanaReform #DEA #ScheduleIII #CannabisPolicy #LegalizationDebate #SocialJustice #PublicHealth #MarijuanaResearch #RecreationalMarijuana #MedicalMarijuana

Regulators have proposed moving marijuana from a Schedule I to Schedule III drug. Check out this piece from Brian Michael Egan, our Director of Government Affairs, for more information on the topic: https://lnkd.in/ex248Mja

Encouraging news on the reform of federal marijuana policy. While revising the control of marijuana from Schedule I to Schedule III will produce immediate benefits to cannabis businesses, there is significant uncertainty on how these businesses can comply with the regulations for Schedule III drugs. Hopefully, DEA will provide clarity when it completes the administrative process for rescheduling marijuana. Even after DEA completes this process, however, the Federal Food, Drug, and Cosmetic Act will remain an obstacle to creating a consistent federal marijuana policy. Without further action, FDA will likely consider marijuana marketed for medical purposes (medical or recreational marijuana) to be an unapproved “new drug” under the FDCA. Congress has introduced legislation to address this situation, but it has not taken any further action on the legislation. Need help analyzing how DEA regulations might impact your cannabis business? Feel free to send me a message. #TuckerEllis #CannabisLaw #MedicalMarijuana

Breaking News: The DEA will propose a rule to reschedule marijuana from Schedule I to Schedule III of the Controlled Substances Act (CSA), marking a historic shift in federal policy. Previously classified under Schedule I, marijuana was regarded as having no accepted medical use and a high potential for abuse. The reclassification to Schedule III, which encompasses drugs that are considered to have a lower potential for abuse and accepted medical use, is a significant move that eases many of the restrictions that have hampered the cannabis industry.   This change was prompted by a recommendation from the Department of Health and Human Services (HHS), which recognized the medical benefits of cannabis and its lower potential for abuse compared to other substances in Schedules I and II. This rescheduling facilitates a more favorable environment for research by reducing regulatory hurdles and lowering penalties associated with cannabis possession and distribution.   The rescheduling of marijuana to Schedule III is expected to significantly enhance the accessibility of cannabis for medical research and therapeutic use, reflecting a major transformation in the legal landscape surrounding marijuana at the federal level. #MarijuanaReschedule #Historic #DEA #ScheduleIII

Exciting news in the cannabis industry as the Biden administration moves to reclassify marijuana as a lower-risk substance, recognizing its medical benefits and potential for research. The US Department of Justice's recommendation to reschedule marijuana to a Schedule III controlled substance is a significant step towards ending the failed war on drugs. This historic move has broad implications for cannabis-related businesses, tax deductions, and research opportunities. Stay tuned as the formal rulemaking process unfolds, potentially reshaping the landscape of the industry. #cannabisindustry #marijuanareform #medicalmarijuana https://lnkd.in/gHqtGYQf