News of rescheduling set the cannabis world ablaze with excitement and hope, but the actual impact still isn't clear.
Cannabis business owners have largely been hopeful that the DEA would follow the Biden administration's recommendations, but some advocates are pushing for further rescheduling or a complete descheduling of the plant.Last August, the United States Department of Health and Human Services officially recommended that marijuana be lowered from a Schedule I federal substance, the same designation as heroin, to Schedule III, which includes drugs like ketamine and certain anabolic steroids.
Under a Schedule III designation, industry representatives believe that marijuana dispensaries, growers and other businesses could qualify for tax deductions like those in more traditional industries. A Schedule III label for cannabis would also create more federal research opportunities. According to Sundie Seefried, the CEO of Colorado-based marijuana credit union Safe Harbor Financial, the access to capital that comes with Schedule III status could improve industry stability.
Marijuana Schedule Iii Colorado Cannabis
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