OMC Provides Update on Federal Marijuana Rescheduling

Today, President Trump initiated actions to expedite the rescheduling of marijuana to Schedule III under the U.S. Controlled Substances Act. While a Schedule III designation could provide targeted federal tax relief by eliminating the application of Internal Revenue Code Section 280E, it would not legalize marijuana at the federal level or change the status of state-regulated markets, which would remain noncompliant with federal law. Marijuana products that are not approved by the U.S. Food and Drug Administration would continue to be prohibited from interstate commerce, prescription by health care providers, and pharmacy distribution, and existing federal criminal penalties, banking restrictions, and drug testing requirements would remain in place unless further federal action occurs. To help clarify what rescheduling would and would not mean, the Cannabis Regulators Association has developed a public-facing factsheet available on its website, Cannabis Regulators Association, and through a direct link to the factsheet itself, CANNRA Fact Sheet. The Office encourages stakeholders and members of the public to review these resources as questions arise regarding potential federal changes.

INCREASING MEDICAL MARIJUANA AND CANNABIDIOL RESEARCH - The White House