#Cannabis Rescheduling

[cannabisbusinessexecutive]

Cannabis Rescheduling Will Boost Creditworthiness, But Compliance Will Remain Key

By John Foley As the cannabis industry awaits the potential rescheduling of cannabis from Schedule I to Schedule III under the Controlled Substances Act, operators and financial institutions alike are preparing for significant changes. While this shift promises to enhance the financial standing of cannabis companies, it is important to note that the change won’t eliminate all…

[eighthrevolution1]

Stay informed with an emergency update from Shane Pennington, breaking down the cannabis rescheduling landscape. Gain insights into the latest developments and their impact on the cannabis industry. As a dynamic team of leading experts in both the science and business field, we’re able to immediately analyze your current needs while providing a 30,000 ft lens with a forward-thinking approach. Regardless of where you are in your process, we can immediately provide an action-based solution to overcome the cannabis industry's obstacles.

[nationallawreview]

The FDA Wants To Reschedule Cannabis. Does That Mean All Employees Can Soon Legally Use It?

On May 21, 2024, the Drug Enforcement Agency (DEA) issued a notice of proposed rulemaking indicating that the U.S Food and Drug Administration (FDA) intends to transfer marijuana from Schedule I to Schedule II of the Controlled Substances Act (CSA). This notice is consistent with opinions from the Department of Health and Human Services (HHS) acknowledging that marijuana has currently accepted…

[mariacallous]

WASHINGTON (AP) — The Justice Department on Thursday formally moved to reclassify marijuana as a less dangerous drug, a historic shift in generations of U.S. drug policy.

A proposed rule sent to the federal register recognizes the medical uses of cannabis and acknowledges it has less potential for abuse than some of the nation’s most dangerous drugs. The plan approved by Attorney General Merrick Garland would not legalize marijuana outright for recreational use.

The Drug Enforcement Administration will next take public comment on the proposal in a potentially lengthy process. If approved, the rule would move marijuana away from its current classification as a Schedule I drug, alongside heroin and LSD. Pot would instead be a Schedule III substance, alongside ketamine and some anabolic steroids.

The move comes after a recommendation from the federal Health and Human Services Department, which launched a review of the drug’s status at the urging of President Joe Biden in 2022.

Biden also has moved to pardon thousands of people convicted federally of simple possession of marijuana and has called on governors and local leaders to take similar steps to erase convictions.

“This is monumental,” Biden said in a video statement, calling it an important move toward reversing longstanding inequities. “Far too many lives have been upended because of a failed approach to marijuana, and I’m committed to righting those wrongs. You have my word on it.”

The election year announcement could help Biden, a Democrat, boost flagging support, particularly among younger voters.

The notice kicks off a 60-day comment period followed by a possible review from an administrative judge, which could be a drawn-out process.

Biden and a growing number of lawmakers from both major political parties have been pushing for the DEA decision as marijuana has become increasingly decriminalized and accepted, particularly by younger people. Some argue that rescheduling doesn’t go far enough and marijuana should instead be treated the way alcohol is.

Democratic Senate Majority Leader Sen. Chuck Schumer of New York applauded the change and called for additional steps toward legalization.

The U.S. Cannabis Council, a trade group, said the switch would “signal a tectonic shift away from the failed policies of the last 50 years.”

The Justice Department said that available data reviewed by HHS shows that while marijuana “is associated with a high prevalence of abuse,” that potential is more in line with other Schedule III substances, according to the proposed rule.

The HHS recommendations are binding until the draft rule is submitted, and Garland agreed with it for the purposes of starting the process.

Still, the DEA has not yet formed its own determination as to where marijuana should be scheduled, and it expects to learn more during the rulemaking process, the document states.

Some critics argue the DEA shouldn’t change course on marijuana, saying rescheduling isn’t necessary and could lead to harmful side effects.

Dr. Kevin Sabet, a former White House drug policy adviser now with the group Smart Approaches to Marijuana, said there isn’t enough data to support moving pot to Schedule III. “As we’ve maintained throughout this process, it’s become undeniable that politics, not science, is driving this decision and has been since the very beginning,” Sabet said.

The immediate effect of rescheduling on the nation’s criminal justice system is expected to be muted. Federal prosecutions for simple possession have been fairly rare in recent years.

Schedule III drugs are still controlled substances and subject to rules and regulations, and people who traffic in them without permission could still face federal criminal prosecution.

Federal drug policy has lagged behind many states in recent years, with 38 states having already legalized medical marijuana and 24 legalizing its recreational use. That’s helped fuel fast growth in the marijuana industry, with an estimated worth of nearly $30 billion.

Easing federal regulations could reduce the tax burden that can be 70% or more for marijuana businesses, according to industry groups. It also could make it easier to research marijuana, since it’s very difficult to conduct authorized clinical studies on Schedule I substances.

[justinspoliticalcorner]

Lydia O'Connor at HuffPost:

President Joe Biden’s administration said Thursday that the Justice Department is officially moving forward with reclassifying marijuana as a less dangerous drug. With the White House’s approval, the DOJ will now publish an official notice that opens a two-month public comment period on the proposal to recategorize marijuana from a Schedule I drug ― which includes heroin and other drugs considered to have “no currently accepted medical use and a high potential for abuse” ― to a lower Schedule III drug, which includes substances with “a moderate to low potential for physical and psychological dependence.” “This is monumental,” Biden said in a video posted to social media.

“Far too many lives have been upended because of failed approach to marijuana. And I’m committed to righting those wrongs,” he continued. Following the public comment period, the Drug Enforcement Administration, which falls under the DOJ umbrella, will be able to assign an administrative law judge to make a final recommendation on rescheduling. A Schedule III classification would not make marijuana legal on the federal level, though dozens of states have taken matters into their own hands and legalized the substance at a state level, citing evidence of the drug’s medical properties and the absence of any deaths linked to the drug. Drugs listed under the Schedule III classification include ketamine, anabolic steroids, testosterone and some substances with a limited amount of codeine.

The Biden Administration announced Thursday that the DOJ is set to reclassify marijuana from Schedule I to Schedule III, a much less restrictive tier.

[brightlotusmoon]

Moving marijuana to Schedule III, as recommended by the U.S. Department of Health and Human Services (HHS), also carries major implications for state-legal cannabis businesses. If it's ultimately implemented, it will mean that marijuana firms can officially take federal tax deductions that they've been barred from under an Internal Revenue Service (IRS) code known as 280E.

The proposed rescheduling determination, first reported by the Associated Press, would also free up research barriers that are currently imposed on scientists who wish to study Schedule I substances.

The next step in the rescheduling process is for the White House Office of Management and Budget (OMB), to review the rule. If approved, it would go to public comment before potentially being finalized.

[posttexasstressdisorder]

[q-gorgeous]

Your Eyeballnesses

fanfiction

ao3

word count: 1072

The Observants have been more annoying than usual, resulting in the most DRAMATIC throwdown @princessfanonanona

idk if this is dramatic but its funny

“You’ve got to be kidding me.” 

Danny stared at where the observants had appeared in the middle of his school’s gym. The other students were staring at them, mouths opened wide. Danny couldn’t blame them. Their giant eyeballs were freaky. 

“Why are you here?” Danny crossed his arms as he looked at them. They have had terrible timing all week. Why did they insist on always showing up when he was busy?

“You have important royal duties to attend to today, Phantom.” Called the Observant standing in the center of their group. “It is vital you come with us.”

“Reschedule it then!” Danny shouted, throwing his arms up in the air. “I’m in school right now! That’s important too! Stop planning things when I’m supposed to be in class!” 

“We think that the duties of our ghost king are a bit more important than some measly high school classes.”

“You say that but Phil had to get me out of being the ghost zone’s marriage counselor.”

“Phantom-”

“And if it’s anything like, banning ghost cannabis or real world items I don’t want to hear about it. That stuff isn’t even bad.”

One of the observants standing in the group pulled out a list from his cloak and crossed a couple things off of it. 

Danny sighed. “Can you guys just leave? You’re interrupting my education here.”

“Sir-”

“Hello, your eyeballnesses.”

The observants jumped back, startled. Standing behind them was Phil. 

“Phil!” The observant exclaimed. “Please stop startling us like that. And don’t call us that.”

“I’m sorry, but you were the ones who initially asked me to keep Phantom’s living and ghost lives separate in that coronation note I ended up losing.”

The observant scoffed. “You ruined that already. We simply need his assistance with important matters in the ghost zone.”

“As his royal advisor you are to come to me so I can let Phantom know ahead of time when and where his duties are needed.”

“You lose all of our notes anyways!” The observant’s cloak billowed around him angrily. “We came to retrieve him ourselves this time.”

He strode over to where Danny was standing. Grabbing onto his arm, the observant started dragging Danny to where the rest of his group was standing.

“Hey!” Danny shouted. “Get off me!” 

Suddenly Phil was teleporting. He appeared right next to Danny. He grabbed onto his arm and teleported him across the gym. Danny sank to the ground and tried to fight back the wave of nausea. 

“Thanks.” Danny croaked out. “But also not.”

“I’m sorry, your majesty. The observants often undermine your abilities and your work ethic. It seems they have no problem crossing boundaries and nearing treason when their king is a half human boy.”

“I’m not surprised these guys are racist. When have they committed treason though? They’re just trying to get me to go to a meeting.”

“As well as infinite pockets, I have ears everywhere, your majesty. Some are literal, others are as you would say ‘little birdies’ that tell me what I need to know to serve my king.”

Phil stood up and turned to face the observant that had grabbed Danny. 

“You are to leave this school and never set foot here again.”

The observant rolled his one eye. “What power do you have to prevent me from coming here again?”

Danny watched as the other observant’s eyes widened and they backed away. Clearly they knew something that this other guy didn’t. How could anyone be afraid of Phil?

Phil teleported close behind the observant and spoke lowly into what must’ve been his ear. 

“You must have forgotten how long I’ve been dead for. How long I’ve crafted my many skills and powers. It is unwise to underestimate me.”

Then Phil was grabbing onto the observant and throwing him across the gym. He nearly flew into the basketball hoop and landed in a heap on the floor. Danny whooped, cheering for Phil.

“Yeah! Get his ass!” 

Phil flew towards the observant. It was the fastest Danny thought he’d ever seen Phil move. He sent an ectoblast flying at him as he was trying to stand up and it sent him hurtling across the floor again. 

The observant finally stood back up but before he could get a shot back in at Phil, he was being thrown into the air. Phil let him fall back down to hit the ground hard. 

The observant groaned and pulled himself up to his knees. He glared at Phil. 

“You have no right to-”

Phil ignored the observant and picked him up roughly. Danny’s eyes widened as he watched Phil stuff the ghost into his pocket until he disappeared completely. If Phil was always losing notes that he forgot about, he didn’t wanna know how long it would take him to get the observant out. 

“Sorry for that display, your majesty.” Phil said, resuming his usual proper posture. “The observants often forget who is the one with the real absolute authority, especially after so long without an active king. I hope that this will remind them that it is truly you who rules the infinite realms, no matter how hard they try to pull the strings.”

“No, that was awesome!” Danny said, smiling. “I’ve never seen you beat anyone up before! But yeah, thanks. They’ve been annoying all week.”

“You’re welcome, your majesty.” Phil turned back to the rest of the observants who were cowering in a cluster on the far side of the gym. “Come on, gentlemen. Let us have our preliminary meeting so I can inform Phantom about the coming discussions we will be having about the infinite realms.”

Phil walked up to them and grabbed onto the closest one, teleporting them away. Danny turned to grab the basketball he had dropped on the ground when the observants showed up. When he stood back up he saw Tetslaff gaping at him.

“Ah, yeah. I guess you haven’t seen any of the ghost king stuff yet.” Danny chuckled. “That’s my guy, Phil. He was our chaperone for the field trip to the ghost zone.”

“That’s the guy?” She asked.

“Yep. I didn’t know he could be threatening though. I just thought he was some stuffy advisor guy.”

Tetslaff just stared at him. She started to walk away. “Free time for the rest of class. I need to go think about some things for the next hour.”

“Have fun!” Danny called.

[follow-up-news]

The Biden administration will take a historic step toward easing federal restrictions on cannabis, with plans to announce an interim rule soon reclassifying the drug for the first time since the Controlled Substances Act was enacted more than 50 years ago, four sources with knowledge of the decision tell NBC News. The Drug Enforcement Administration is expected to approve an opinion by the Department of Health and Human Services that marijuana should be reclassified from the most strict Schedule I to the less stringent Schedule III, marking the first time that the U.S. government would acknowledge its potential medical benefits and begin studying them in earnest. The Justice Department "continues to work on this rule," a Biden administration official said. "We have no further comment at this time." Since 1971, marijuana has been in the same category as heroin, methamphetamines and LSD. Each substance under the Schedule I classification is defined as a drug with no accepted medical use and a high potential for abuse. Schedule III substances include Tylenol with codeine, steroids and testosterone. By rescheduling cannabis, the drug would now be studied and researched to identify concrete medical benefits, opening the door for pharmaceutical companies to get involved with the sale and distribution of medical marijuana in states where it is legal.  For the $34 billion cannabis industry, the move would also eliminate significant tax burdens for businesses in states where the drug is legal, notably getting rid of the Internal Revenue Services code Section 280E which currently prohibits legal cannabis companies from deducting what would otherwise be ordinary business expenses. The Department of Justice’s rescheduling decision could also help shrink the black market which has thrived despite legalization in states like New York and California and has undercut legal markets that are fiercely regulated and highly taxed.

[ridenwithbiden]

 The U.S. Drug Enforcement Administration will move to reclassify marijuana as a less dangerous drug, The Associated Press has learned, a historic shift to generations of American drug policy that could have wide ripple effects across the country.

The proposal, which still must be reviewed by the White House Office of Management and Budget, would recognize the medical uses of cannabis and acknowledge it has less potential for abuse than some of the nation’s most dangerous drugs. However, it would not legalize marijuana outright for recreational use.

The agency's move, confirmed to the AP on Tuesday by five people familiar with the matter who spoke on the condition of anonymity to discuss the sensitive regulatory review, clears the last significant regulatory hurdle before the agency’s biggest policy change in more than 50 years can take effect.

Once OMB signs off, the DEA will take public comment on the plan to move marijuana from its current classification as a Schedule I drug, alongside heroin and LSD. It moves pot to Schedule III, alongside ketamine and some anabolic steroids, following a recommendation from the federal Health and Human Services Department. After the public comment period and a review by an administrative judge, the agency would eventually publish the final rule.

The proposal will be formally signed by Attorney General Merrick Garland, whose agency has ultimate oversight of the DEA, according to another person familiar with the process who spoke on the condition of anonymity to discuss internal deliberations. Garland's signature throws the full weight of the Justice Department behind the move and appears to signal its importance to the Biden administration.

It comes after President Joe Biden called for a review of federal marijuana law in October 2022 and moved to pardon thousands of Americans convicted federally of simple possession of the drug. He has also called on governors and local leaders to take similar steps to erase marijuana convictions.

“Criminal records for marijuana use and possession have imposed needless barriers to employment, housing, and educational opportunities,” Biden said in December. “Too many lives have been upended because of our failed approach to marijuana. It’s time that we right these wrongs.”

The election year announcement could help Biden, a Democrat, boost flagging support, particularly among younger voters.

Biden and a growing number of lawmakers from both major political parties have been pushing for the DEA decision as marijuana has become increasingly decriminalized and accepted, particularly by younger people. A Gallup poll last fall found 70% of adults support legalization, the highest level yet recorded by the polling firm and more than double the roughly 30% who backed it in 2000.

The DEA didn’t respond to repeated requests for comment.

Schedule III drugs are still controlled substances and subject to rules and regulations, and people who traffic in them without permission could still face federal criminal prosecution.

Some critics argue the DEA shouldn’t change course on marijuana, saying rescheduling isn’t necessary and could lead to harmful side effects.

Jack Riley, a former deputy administrator of the DEA, said he had concerns about the proposed change because he thinks marijuana remains a possible “gateway drug," one that may lead to the use of other drugs.

“But in terms of us getting clear to use our resources to combat other major drugs, that’s a positive,” Riley said, noting that fentanyl alone accounts for more than 100,000 deaths in the U.S. a year.

On the other end of the spectrum, others argue marijuana should be treated the way alcohol is.

Last week, 21 Democrats led by Senate Majority Leader Sen. Chuck Schumer of New York sent a letter to DEA Administrator Anne Milgram and Attorney General Merrick Garland arguing marijuana should be dropped from the controlled-substances list and instead regulated like alcohol.

“It is time for the DEA to act,” the lawmakers wrote. “Right now, the Administration has the opportunity to resolve more than 50 years of failed, racially discriminatory marijuana policy.”

Federal drug policy has lagged behind many states in recent years, with 38 having already legalized medical marijuana and 24 legalizing its recreational use.

That’s helped fuel fast growth in the marijuana industry, with an estimated worth of nearly $30 billion. Easing federal regulations could reduce the tax burden that can be 70% or more for businesses, according to industry groups. It could also make it easier to research marijuana, since it’s very difficult to conduct authorized clinical studies on Schedule I substances.

The immediate effect of rescheduling on the nation’s criminal justice system would likely be more muted, since federal prosecutions for simple possession have been fairly rare in recent years.

But loosening restrictions could carry a host of unintended consequences in the drug war and beyond.

Critics point out that as a Schedule III drug, marijuana would remain regulated by the DEA. That means the roughly 15,000 cannabis dispensaries in the U.S. would have to register with the DEA like regular pharmacies and fulfill strict reporting requirements, something that they are loath to do and that the DEA is ill equipped to handle.

Then there’s the United States' international treaty obligations, chief among them the 1961 Single Convention on Narcotic Drugs, which requires the criminalization of cannabis. In 2016, during the Obama administration, the DEA cited the U.S.’ international obligations and the findings of a federal court of appeals in Washington in denying a similar request to reschedule marijuana.

[cannabisbusinessexecutive]

The State of Rescheduling: Where Does It Stand?

The public commentary period on cannabis rescheduling has ended, marking a key turning point in the ongoing debate over cannabis regulation. On July 22, the commentary period officially closed, with more than 43,000 comments submitted. The overwhelming majority of comments favored complete cannabis descheduling rather than rescheduling to Schedule III. While cannabis rescheduling to Schedule III…

[eighthrevolution1]

NY Cannabis Regulators made significant changes. Jon Purrow joined us to break them all down along with Emergency NY Update, Unknown Impact of Cannabis Rescheduling and IP Protection. Listen to our podcast and learn more.

[vague-humanoid]

@ubernegro @startorrent02

[trickricksblog08]

About one-third of marijuana consumers say they would go back to the illicit market if cannabis was rescheduled and only made legally available as a FDA approved prescription drug, according to a new poll.

As federal agencies work to complete an administrative review into cannabis scheduling, the survey from Nugg MD shows wariness about how the government could hypothetically become involved with marijuana in the event of a reclassification.

"Consumers simply do not want FDA or pharmaceutical companies meddling with their cannabis,” Tharp of Nugg MD said. “They prefer state-run cannabis markets. They have moderate to high levels of trust in state controls. And many of them will obtain the cannabis they want, even if it means not abiding by the law. When it comes to supply, cannabis consumers have a rich history of just figuring it out.”

https://www.marijuanamoment.net/one-third-of-marijuana-consumers-would-return-to-illicit-market-if-rescheduling-restricts-access-to-pharmacies-new-poll-finds/