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On Wednesday, the Acting US Attorney General signed a final administrative order rescheduling medical marijuana to Schedule III under the Controlled Substances Act. This is a historic win for the industry as it opens more doors for research, patient access, and provides much needed relief from the 280E tax burden. Importantly, this rescheduling only applies to marijuana that is used to manufacture FDA-approved drugs or medical marijuana that is produced under a state-licensing regime. It does not generally legalize marijuana. It is expected that anti-cannabis groups will seek to challenge this order in the courts.
Additionally, the DEA is restarting the formal administrative hearing to determine whether all marijuana should be rescheduled – the hearing is scheduled to be heard from June 29-July 16 in Arlington, VA.
