May 16, 2024, could be the most historic day in the history of state-legal cannabis. The Biden administration has published a Proposed Rule to Reschedule cannabis from Schedule I to Schedule III, which has far-reaching implications as we’ve written about here and here. The Proposed Rule follows the administrative rulemaking process now, which we’ve written about here. The Proposed Rule is signed by Attorney General Merrick Garland and relies on an extensive and compelling analysis prepared by the Office of Legal Counsel. Please reach out to experts from our national Cannabis practice with any questions.

Read the Proposed Rule, which has been published in the Federal Register, here.

Read the Office of Legal Counsel opinion here.