Thinking Outside The Bud Podcast: An Interview With Michael Schwamm

The House has passed a short-term funding bill postponing the federal ban on hemp-derived THC products from November 12th to December 11th. With comprehensive legislation unlikely before the new deadline and competing interests from cannabis sellers, alcohol producers, and state regulators creating policy gridlock, the future of intoxicating hemp products remains uncertain as midterm elections approach.

For years, cannabis companies have been unable to access U.S. bankruptcy courts due to the federal classification of marijuana. Federal courts have consistently dismissed Chapter 11 cases filed by cannabis operators...

Welcome back to The Week in Weed, your Friday look at what’s happening in the world of legalized marijuana. This week, the DEA released the rescheduling hearing transcript, which runs to over 2,500 pages.

Cannabis rescheduling has fundamentally altered the regulatory landscape for California operators, creating hidden risks in contracts drafted before April 2026. Supply agreements, licensing deals, and investment documents built around Schedule I assumptions may now contain critical gaps regarding DEA registration requirements, medical versus adult-use distinctions, and tax treatment under I.R.C. 280E.

Federal hemp regulations face potential delays as the Senate votes to extend the ban deadline, while new bipartisan legislation proposes treating hemp beverages like alcohol. Meanwhile, Rhode Island reopens its cannabis retail licensing process and New York authorizes microbusinesses to sell at farmers' markets.

The first half of 2026 was an important year for the Massachusetts adult-use and medical cannabis industry, with significant developments on multiple fronts.

Federal appeals courts are divided on whether states can legally favor in-state residents in their cannabis licensing programs, with some circuits applying the Dormant Commerce Clause while others exempt cannabis due to its federal illegality. The Supreme Court's recent decision to decline hearing this constitutional question leaves cannabis operators facing different rules depending on their geographic location, creating uncertainty for interstate expansion.

On April 23, 2026, the DEA rescheduled certain marijuana products from Schedule I to Schedule III, creating new compliance obligations for California cannabis operators. This shift primarily affects state-licensed medical cannabis programs and introduces critical decisions around DEA registration, license restructuring, and IRC Section 280E tax implications that operators must navigate strategically.

A seasoned cannabis policy advisor reflects on the profound influence of Martin Jelsma, one of the world's leading experts on international drug control treaties, as Jelsma prepares to retire from his role at the Transnational Institute. The piece explores how mentorship and rigorous scholarship have shaped modern drug policy reform and the next generation of advocates working to build evidence-based cannabis policies grounded in health, human welfare, and respect for local traditions.

Harris Sliwoski attorney Jason Adelstone joins industry experts for a live webinar examining the current state of federal cannabis rescheduling following the DEA administrative hearing process. The panel will analyze recent regulatory developments and discuss what cannabis businesses should monitor as the legal landscape continues to shift.