Rescheduling Cannabis?

This past week, I woke up to cannabis being rescheduled. Could it be? Did the powers that be finally do the right thing and release all of us from the burden of 280E? Did they start to move the needle towards federal legalization of the plant? Unfortunately, not so much.

Just like anything in this administration, follow the money. I give huge kudos to the large, mostly unprofitable, publicly traded multi-state cannabis operators (MSOs) who were there from the start with medical licenses. Together, they have spent billions trying to prop up an industry that will eventually work with ease. They lobbied and visited the White House often, but Todd Blanche, the acting (a perfect adjective for him) attorney general, signed the bill only for medical operators.

Many of these MSOs have medical licenses, but at this point, the majority of their business is consumer products, so I am unclear on how they separate themselves to avoid 280E when it doesn’t affect their entire operation. I wonder if the government even understands that. The industry is so layered and complicated. The new policy applies to only two types of marijuana products: FDA-approved and those that are regulated under a state medical marijuana license. It is confusing to the public and most of us in the industry.

Now, all the people left in the dust, such as the dispensaries, brands, and farms, which are the majority of the industry with the least amount of capital, have to wait until the DEA holds a hearing for rescheduling marijuana on June 29, for the rest of us hoping for the same outcome. All signs point to this happening, but they could also kick the can down the road. You do gotta love the anti-legalization group Smart Approaches to Marijuana, or SAM, condemning these actions. Who are these people?

I was asked for a quote about the disappointing (although a step in the right direction) outcome. Here is how I wrapped it up. Medical cannabis suppliers stand to benefit immediately from this decision, while recreational cannabis is left out of today’s rescheduling. This is yet another slap in the face to an industry projected to generate more than $38 billion in 2026. It reflects a continued federal disconnect—one that still leans on the false narratives established during the War on Drugs and the Richard Nixon administration to criminalize and disproportionately incarcerate Black and brown communities. Research and data have long made it clear: it is past time for cannabis to be rescheduled across the board and federally legalized, especially as nearly every state moves toward some form of legal cannabis access by the end of 2026.”

June can’t come soon enough.