Washington State’s Cannabis Industry Braces for Potential Federal Changes
The cannabis industry in Washington state is on high alert as the federal government considers reclassifying marijuana as a less dangerous drug. This move could have significant implications for local consumers, researchers, and business owners.
Currently, marijuana is classified as a Schedule I drug by the Drug Enforcement Administration (DEA), alongside drugs like heroin and methamphetamine. This classification suggests that marijuana has little to no value. However, the Biden administration has proposed moving marijuana to a less serious Schedule III drug, with a moderate to low potential for addiction.
Dr. Susan Ferguson, Director of the Addictions, Drug and Alcohol Institute at the University of Washington, believes that this change cannot come soon enough. She and her researchers have been limited by outdated federal regulations on cannabis, which has hindered their ability to discover new, non-addictive medications. Ferguson notes that the low-potency cannabis currently available for research is not representative of the high-potency products available at dispensaries.
While some opponents of the reclassification proposal are concerned about the potential for addiction and Cannabis Use Disorder among teens, Ferguson emphasizes the importance of research in providing medical breakthroughs. She believes that opening up the floodgates of research could help inform the public and policymakers.
However, not everyone in the industry is optimistic about the potential changes. Ryan Kunkel, one of the first cannabis shop owners in Washington state, is concerned that the relaxation of federal regulations could lead to the demise of small retail stores. He believes that big-box retailers will eventually enter the market, driving down prices and making it difficult for small businesses to compete.
Despite these concerns, Kunkel does believe that reclassification could lead to lower prices for consumers. The public comment period for the DEA’s rescheduling decision has closed, and there is no timeline for when a final decision will be made. An administrative hearing is scheduled for December 2, which could push the decision into 2025.
As the cannabis industry in Washington state waits with bated breath for the federal government’s decision, it remains to be seen what the future holds for this rapidly evolving industry.
