President Donald Trump has reclassified medical marijuana as a Schedule III drug, reducing federal restrictions and bringing changes to Oklahoma’s medical marijuana industry.
President Donald Trump has reclassified medical marijuana as a Schedule III drug, reducing federal restrictions and bringing changes to Oklahoma’s medical marijuana industry.
President Donald Trump has reclassified medical marijuana as a Schedule III drug, reducing federal restrictions and bringing changes to Oklahoma’s medical marijuana industry.
President Donald Trump has reclassified medical marijuana as a Schedule III drug, removing it from the Schedule I list of substances considered the most dangerous, a move expected to bring changes to Oklahoma’s medical marijuana industry.
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The reclassification means changes to how medical marijuana is regulated in Oklahoma, along with tax benefits for businesses. However, it does not legalize recreational marijuana in the state.
Mark Woodward, spokesperson for the Oklahoma Bureau of Narcotics, said the agency supports the reclassification and sees benefits for Oklahoma.
“There’s some benefits for Oklahoma moving from a Schedule I to a Schedule III,” Woodward said.
He explained that the change adds federal oversight, which could help combat black market activity in the state’s medical marijuana program.
“It adds another layer of federal protection and regulation and oversight, which is going to be very helpful as we continue to go after those who are committing fraud or growing for the black market illegally, trying to bypass both criminal laws and health and safety standards,” Woodward said.
Woodward also noted that the reclassification could open the door to more research on marijuana.
“We don’t have as much research as we could to find out what the potential hazards are, especially with today’s high-grade marijuana and frequent use among our teenagers,” he said. “Researchers and universities won’t be afraid to study it.”
Additionally, businesses in the medical marijuana industry can now take advantage of tax breaks.
“As a Schedule I drug, they can’t take advantage of the tax breaks, deducting business expenses and things like that, because it’s been federally illegal,” Woodward said.
Woodward stressed that the reclassification does not decriminalize marijuana or make it legal for recreational use.
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“If anybody just thinks, well, this just decriminalizes it and it’s going to be the Wild West, that’s simply not the case,” he said. “If anything, I think there is a new federal additional layer of oversight and regulations and enforcement to make sure we protect those who are doing right and go after those who are criminals.”
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