U.S. DEA Proposes Marijuana Reclassification To Schedule III

On April 30, 2024 the Associated Press reported that the U.S. Drug Enforcement Administration (DEA) submitted a proposal to the White House Office of Management and Budget (OMB) suggesting marijuana be reclassified as a Schedule III substance under the Controlled Substances Act (CSA). While the news has unleashed a torrent of analysis and comments from cannabis industry experts regarding rescheduling's ultimate impact on existing cannabis businesses, it is unclear how the change may affect state licensed businesses that are still federally illegal, particularly ones that currently operate under the auspice of a medical program.

Reclassifying marijuana to Schedule III

Marijuana and other drugs are regulated by the federal government through the CSA. The CSA places substances into one of five categories, called schedules, depending on the drug's acceptable medical use and abuse or dependency potential. Marijuana is currently classified as a Schedule I substance