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Welcome back to the buzz, our monthly cannabis news and policy update. Your at-a-glance source for regulatory developments, agency announcements, and trends impacting the cannabis industry. This month's highlights include:...more
The proposed rescheduling of cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA) marks a pivotal moment in the evolution of U.S. cannabis policy but may bring few practical changes to...more
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
Welcome to the buzz, our monthly cannabis news and policy update. Your at-a-glance source for regulatory developments, agency announcements, and trends impacting the cannabis industry. - This month's highlights include: ...more
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
It is still too early for cannabis companies to try and take advantage of potential tax relief should the Justice Department (DOJ) reschedule cannabis under the Controlled Substances Act. In a recent news release, the...more
While marijuana advocates celebrate the potential rescheduling of marijuana from Schedule I to Schedule III, the taxman has made clear that marijuana remains a Schedule I substance subject to Section 280E of the Internal...more
On May 16, 2024, the U.S. Drug Enforcement Administration (“DEA”) issued a Notice of Proposed Rulemaking (“NPRM”) to reclassify marijuana from Schedule I to Schedule III under the federal Controlled Substances Act (“CSA”) and...more
The federal government has started to reclassify cannabis. When, and if, that reclassification is finalized, licensed cannabis businesses should see dramatically higher after-tax income and access to services from credit card...more
On April 30, 2024, the Associated Press reported a significant development in cannabis policy: the U.S. Drug Enforcement Administration (“DEA”) is recommending reclassifying cannabis from Schedule I to Schedule III. This...more
The long-awaited, and recently leaked, news that DEA would begin the process of rescheduling marijuana from Schedule I to Schedule III became a reality yesterday when DEA issued a formal notice of proposed rulemaking. As we...more
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...more
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
As the state legalization of medicinal and adult-use cannabis spreads across the United States, cannabis producers and retailers are experiencing a rapid increase in production and sales. However, despite this boom in...more
In a historic move, the DEA accepted the US Department of Health and Human Services’ recommendation to reclassify marijuana from Schedule I to a Schedule III controlled substance, arguably the most significant change to...more
On April 30, the U.S. Drug Enforcement Administration issued a proposed rule to move marijuana from the Schedule I class to Schedule III. If approved this will be the most significant change in federal marijuana law since...more
Earlier this week, we learned that the United States Drug Enforcement Administration (DEA) will likely reclassify marijuana under federal law from Schedule I to Schedule III of the Controlled Substances Act (CSA) based upon...more
The Drug Enforcement Administration (DEA) will call for cannabis to be rescheduled according to a report by the Associated Press. The anticipated rescheduling follows the Department of Health & Human Services’ (HHS) August...more
The U.S. Food and Drug Administration (FDA) is continuing to support clinical research for cannabis and psychedelic drug development. On the heels of publishing its first draft guidance on clinical trials involving...more
A recent court decision shows an evolving stance toward cannabis companies facing financial distress and seeking bankruptcy protection. Taken together with the U.S. Department of Health and Human Services recommending that...more
New York Governor Kathy Hochul signed a bill on Friday, November 20, 2023, that allows New York City cannabis businesses to deduct business expenses paid or incurred in carrying on such business for purposes of determining...more
A California court recently confirmed a plan for a cannabis-related business to sell its equity assets in a Canadian cannabis company and distribute the proceeds to creditors, a milestone ruling that may open a new path for...more
With more individuals and businesses entering the cannabis sector, there has been an increased interest in what kind of trademark protections a cannabis business can obtain. This article seeks to briefly cover what in the...more
As previously discussed by Foley Hoag’s attorneys in its Cannabis practice, a rescheduling of cannabis from a Schedule I Controlled Substance to a Schedule III Controlled Substance will provide cannabis businesses with the...more
With the U.S. Department of Health and Human Services (HHS) officially recommending cannabis be moved from a Schedule I drug to a Schedule III drug, the cannabis industry is one step closer to alleviating interstate commerce...more