DEA Makes History with Broad Cannabis Reform & Drops Classification from I to III

Reported in the Associated Press and covered by thecannabisindustry.org, the DEA today “that the U.S. Drug Enforcement Administration (DEA) is planning to move cannabis from Schedule I status to Schedule III in the federal Controlled Substances Act. This historic move that acknowledges the medical benefits of cannabis products still needs to be reviewed by the White House Office of Management and Budget before the DEA initiates a public comment period.” So since marijuana is reclassified by the DEA, what could be next?

“Moving marijuana out of its absurd classification as a Schedule I drug is long overdue and we applaud the administration for finally acknowledging the therapeutic value that has been widely accepted by the medical community and millions of medical cannabis patients for decades,” said National Cannabis Industry Association CEO, Aaron Smith. Clearly, a lot more will come from this move that is without a doubt paving the way for cannabis industry businesses to succeed with improved and accessible tax deductions. The prohibition is far from over. But it’s taking a deep breath!

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