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US Reclassifies Medical Marijuana, Easing Research Restrictions and Tax Burden

US Acting Attorney General Todd Blanche has announced a significant shift in the country’s stance on medical marijuana, reclassifying it as a less dangerous drug. As of Thursday, state-licensed medical marijuana has been moved from Schedule I, which includes highly restricted drugs like heroin and ecstasy, to Schedule III, a category that includes prescription medicines like ketamine and Tylenol with codeine.

This change aims to make it easier to research the potential medicinal benefits of marijuana, which has been hindered by the previous classification. The move also grants a tax break to licensed medical marijuana dealers and relaxes some restrictions on studying the drug’s effects.

Acting Attorney General Blanche emphasized the importance of this change, stating that it will enable more targeted and rigorous research into the safety and efficacy of marijuana, ultimately leading to better healthcare decisions for patients.

However, the reclassification does not legalize recreational use of marijuana under federal law. The Drug Enforcement Administration will hold administrative hearings in June to consider a broader reclassification of marijuana.

The move has sparked mixed reactions within the industry. While some see it as a step in the right direction, others are concerned about the potential implications for state-licensed businesses that grow, make, and sell cannabis for recreational use. Colorado-based attorney Rachel Gillette noted that the reclassification has created a “bifurcated” system, with one plant being treated differently depending on its intended use.

Gillette acknowledged that the move is a step forward, but also raises more questions than answers. She expressed concerns about the potential for confusion and complications if the status quo remains and the June hearing does not lead to a broader reclassification of marijuana.