Cannabis Federal Rescheduling Review and State Submissions to Feds

Written July 2023

Introduction

As the cannabis industry continues to gain momentum across the United States, the long-awaited federal rescheduling of cannabis has become a hot topic yet again of discussion. Sighing, because we have seen this conversation kicked around decades before with medical cannabis legalization. Thus, we are pessimistic about this constant topic and take a more “believe when we see it” approach.

Nonetheless, at least five legal cannabis states have provided essential data to the Biden Administration, supporting a comprehensive review of cannabis rescheduling. This intriguing new twist marks a potential turning point in the federal government’s approach to cannabis. As an advocate, this blog offers a unique opportunity to shed light on the plant’s true potential and encourage shaping a more rational and inclusive regulatory framework.

Understanding the Current Landscape

Under the Controlled Substances Act (CSA) of 1970, cannabis is classified as a Schedule I substance alongside drugs like heroin and LSD. This classification implies that cannabis has no accepted medical use and is highly prone to abuse. However, numerous legal cannabis states have effectively challenged this outdated notion by implementing inclusive, regulated cannabis programs.

State Submissions and Their Significance

Illinois, Maryland, Massachusetts, Minnesota, and Utah, have shared information with the Biden Administration, according to reports by MJBiz Daily. These submissions highlight the positive impact cannabis legalization has had on their respective states’ economies, public health, and criminal justice systems. The data shared includes tax revenue figures, job creation statistics, opioid prevention, and expungement efforts.

By providing such data, these states present a compelling case for revisiting the federal classification of cannabis. They demonstrate that regulated cannabis markets can generate substantial tax revenue, create employment opportunities, and contribute to the overall well-being of their communities. Moreover, they highlight how cannabis has played an analogous role in addressing the opioid crisis and providing alternative treatment options for various medical conditions.

The Potential Implications

The federal rescheduling of cannabis would have far-reaching implications for both the cannabis industry and society as a whole. Reclassifying cannabis would acknowledge its medical potential and open doors for further research and development, fostering scientific advancements and innovative therapies. It would also help reconcile the disparities between state and federal laws, providing legal clarity for individuals and businesses in the cannabis space.

Furthermore, rescheduling cannabis could facilitate better access to banking services for cannabis-related businesses, enabling them to operate more effectively and securely. It would encourage investment and foster economic growth, potentially creating new employment opportunities in the emerging cannabis industry. Moreover, it would allow for nationwide quality control standards and consumer protections ensuring the safety and consistency of cannabis products.

Conclusion

The submission of data by legal cannabis states to the Biden Administration for the cannabis federal rescheduling review represents a significant step towards a more inclusive and progressive approach to cannabis regulation at the federal level. Hopefully, this review will lead to a more informed and evidence-based decision regarding the scheduling of cannabis. By acknowledging the benefits and addressing the challenges associated with cannabis, the federal government can shape a fair and equitable regulatory framework that reflects the people’s will and ensures the well-being of individuals, communities, and the industry. However, in the meantime, don’t hold your breath!

About Naulls Legal Group

Naulls Legal Group (NLG) is the premier law firm for enterprise compliance representing organizations and cannabis-based businesses based in Southern California. We are well-versed in helping clients navigate corporate compliance with intimate industry experience in the increasingly complex and heavily regulated cannabis industry. At NLG, we help businesses GROW!