Cannabis Industry Quarterly Update: Q1 2024

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If the Federal Government reschedules marijuana, experts believe it could lead to a cascade of state-level changes.

There is growing evidence that Joe Biden’s administration is working on moving marijuana to Schedule III of the Controlled Substance Act (CSA), a change from its current listing on the maximally restrictive Schedule I. That would lessen the tax burden on businesses selling the drug in states where it is legal, and potentially change how police agencies view enforcement of marijuana laws. However, some advocates believe this would not resolve conflicts between state and federal laws.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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