News & Analysis as of September 18, 2024

Marijuana Related Businesses

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Medical Marijuana refers to the use of marijuana to treat or alleviate symptoms of certain illnesses. A growing number of states permit individuals to use marijuana on the recommendation of a physician. Despite state laws to the contrary, Federal law still prohibits the use or possession of marijuana. The conflict between state and federal law on this issue has created interesting enforcement issues and significant legal hurdles for medical marijuana providers. less -

The Impact of Cannabis Rescheduling on State Laws and Regulations: Insights From CANNRA

Troutman Pepper on 7/25/2024

In May, the U.S. Department of Justice (DOJ) issued a notice of proposed rulemaking to transfer cannabis from Schedule I to Schedule III of the Controlled Substances Act (CSA), a change that could significantly affect current...more

Potential Impacts of the Federal Reclassification of Marijuana

Bilzin Sumberg on 7/10/2024

In May, President Biden announced the Drug Enforcement Administration (DEA)’s proposed rule reclassifying marijuana from a Schedule I drug to a Schedule III drug under the Controlled Substances Act (CSA)....more

The Path and Politics of Marijuana Legislation: State-by-State Progress and Future Directions

Troutman Pepper on 7/10/2024

Despite marijuana’s continued federal classification as a Schedule I controlled substance, 26 states and the District of Columbia have passed laws at least partially decriminalizing marijuana possession and recreational use....more

Cannabis Industry Quarterly Update: Q2 2024

Benesch on 6/27/2024

Biden administration formally proposes moving marijuana to Schedule 3 - Attorney General Merrick Garland has proposed reclassifying marijuana to Schedule III of the Controlled Substances Act, following President Biden's...more

Bridging Federal and State Cannabis Laws: Understanding the Impact of Proposed Changes and North Carolina’s Legislative Actions

Troutman Pepper on 6/26/2024

Among the two most widely reported federal changes to cannabis regulation are the Department of Justice’s (DOJ) proposed regulation for the federal rescheduling of marijuana (the Proposed Rescheduling) and amendments to the...more

Will Rescheduling Cannabis Open the Industry to Increased Financing, Real Estate and Banking Opportunities?

Greenbaum, Rowe, Smith & Davis LLP on 6/5/2024

On May 16, 2024, the U.S. Department of Justice (DOJ) issued its proposed rules to transfer cannabis from Schedule I of the Controlled Substances Act (CSA) to Schedule III of the CSA. The DOJ’s proposal follows the U.S....more

DOJ Recommends Rescheduling Cannabis – What This Could Mean for the Cannabis Industry

Levenfeld Pearlstein, LLC on 5/16/2024

On April 30, 2024, the US Department of Justice recommended that cannabis be rescheduled as a Schedule III controlled substance, a classification shared by prescription drugs such as ketamine and Tylenol with codeine....more

Bridging the Gap: Cannabis Rescheduling to Align Policy with Research

Sheppard Mullin Richter & Hampton LLP on 5/10/2024

In a much-anticipated move, sources recently reported that the Drug Enforcement Administration (“DEA”) will recommend rescheduling cannabis from a Schedule I substance to a Schedule III substance under the federal Controlled...more

Now That It Appears Marijuana Is Being Rescheduled, How Does That Process Work?

Bradley Arant Boult Cummings LLP on 5/7/2024

As we at Budding Trends reported last week, the DEA is set to finally accept the recommendation of the U.S. Department of Health and Human Services (HHS) to reschedule marijuana from Schedule I to Schedule III under the...more

Federal Update on Cannabis Scheduling: Are State Legalized Cannabis Dispensaries to Become Pharmacies?

Epstein Becker & Green on 5/6/2024

A major update in cannabis law was announced by the Drug Enforcement Administration (DEA) and Attorney General (AG) this past Tuesday, April 30, 2024 regarding their intent to ease restrictions on cannabis. The DEA plans to...more

DEA Breaks Silence on Reclassification of Marijuana, Proposing Move to Schedule III

Akerman LLP on 5/6/2024

After months of anticipation following the U.S. Department of Health and Human Services' recommendation to reschedule marijuana from a Schedule I to a Schedule III controlled substance, we finally have insight into the...more

DEA’s Plan to Reschedule Cannabis: Implications and Insights

McCarter & English, LLP on 5/6/2024

Earlier this week, the Department of Justice proposed reclassifying cannabis from Schedule I to Schedule III under the Controlled Substances Act. The move follows an August 2023 recommendation from the Department of Health...more

A Major Step Towards Reform: The DEA Recommends Rescheduling Cannabis

Amundsen Davis LLC on 5/1/2024

In a recent historic announcement, the U.S. Drug Enforcement Administration has determined that cannabis, which is currently categorized as a Schedule I drug under the Controlled Substances Act (CSA), should be rescheduled to...more

4 Major Implications of Cannabis Moving to Schedule III

Vicente LLP on 5/1/2024

After 50 years of being on the most restrictive schedule alongside drugs like heroin and PCP, the DEA will move to reschedule marijuana in Schedule III, where the plant’s medical benefits will finally be recognized by the...more

Marijuana Rescheduling is Here: How DEA’s Decision Will Impact Cannabis Businesses

McGlinchey Stafford on 5/1/2024

After fifty years, the federal government finally acknowledged that marijuana has medical value and is not as dangerous as heroin. As first reported by the Associated Press and confirmed by Marijuana Moment, on April 30,...more

How Cannabis Cos. Are Adapting in Shifting Bankruptcy Arena

Troutman Pepper on 3/4/2024

Although the possession and sale of cannabis remain federally illegal under the Controlled Substances Act, the U.S. Department of Justice has largely exercised a general policy of nonprosecution for state-regulated cannabis...more

Federal Courts and Cannabis Disputes: A New Perspective from Bartch v. Barch

Troutman Pepper on 2/23/2024

On February 1, 2024, Senior United States District Judge R. Brooke Jackson of the United States District Court for the District of Colorado denied Mackie A. Barch (Mackie) and Trellis Holdings Maryland, Inc. (Trellis and...more

The Continuing Negative Impact of Federal and State Taxation on the Cannabis Industry; Where Do We Go from Here?

Troutman Pepper on 1/10/2024

The cannabis industry has experienced significant growth over the past decade, with increasing numbers of states legalizing both medical and recreational use. Currently, cannabis is legal for adults in 24 states and the...more

Cannabis Industry Quarterly Update: Q3 2023

Benesch on 11/21/2023

The U.S. Department of Health and Human Services has recommended that the DEA reclassify cannabis to Schedule III - The U.S. Department of Health and Human Services (HHS) recommended that the U.S. Drug Enforcement Agency...more

Podcast: Tax and Banking Implications of Rescheduling Marijuana [More with McGlinchey, Ep. 61]

McGlinchey Stafford on 10/3/2023

In late August, the U.S. Department of Health and Human Services announced that it would recommend moving marijuana from Schedule I to Schedule III of the Controlled Substances Act. In this episode, corporate cannabis...more

Historic Recommendation by HHS to Reschedule Marijuana to Schedule III

Frantz Ward LLP on 9/6/2023

In a momentous announcement, the U.S. Department of Health and Human Services (“HHS”) has recommended that marijuana be rescheduled from Schedule I to Schedule III under the Controlled Substances Act (the “CSA”). Schedule I...more

Cannabis & the Mid-Terms: What Tax Policy?

Rivkin Radler LLP on 10/18/2022

On October 6, 2022, the President announced three changes in the Federal government’s policy toward cannabis: 1.He pardoned all prior Federal offenses of simple possession of marijuana; 2.He urged governors to do the same...more

Commercial Leasing and the Cannabis Market

Obermayer Rebmann Maxwell & Hippel LLP on 8/17/2022

Currently, 38 states (including Pennsylvania and New Jersey) have legalized the use of marijuana for medical use and 19 states (including New Jersey) have legalized its use for recreational purposes. However, under...more

Senators Schumer, Booker, and Wyden File Long-Awaited Federal Cannabis Bill

Foley Hoag LLP - Cannabis and the Law on 7/25/2022

On July 21, 2022, Senate Majority Leader Chuck Schumer (D-NY), Senate Finance Committee Chairman Ron Wyden (D-OR) and Sen. Cory Booker (D-NJ) formally filed the much-anticipated Cannabis Administration and Opportunity Act...more

Cannabis Companies Lacking Bankruptcy Protections Can Explore State Options

McGlinchey Stafford on 6/8/2022

As the trend to legalize the medical and recreational use of marijuana continues to blaze through the states, federal law, and bankruptcy courts by extension, have not yet followed suit....more

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