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The Trump administration recently moved to reclassify state licensed medical marijuana as a less dangerous drug.
The change moves it from the highest schedule, Schedule I, down to Schedule III, which includes substances like ketamine, steroids, and Tylenol with codeine.
Industry leaders like Meredith Buettner with the Pennsylvania Cannabis Coalition, say the order is an important first step in recognizing marijuana’s medical use, as well as breaking the stigma around the drug.
“Rescheduling is the most significant movement from the federal government related to cannabis regulation since they made cannabis illegal,” she said.
The change will allow for more studies into marijuana’s clinical use, which Buettner hopes will lead to more federal support for research.
“There’s a lot of research really on the brink of breakthroughs that really could help us move the industry forward, move patient safety forward, move public health and safety forward,” she said.
The rescheduling comes as part of a years-long process started by the Biden administration to change cannabis regulations. It comes after a December directive from President Trump to the Justice Department to reclassify the drug. The President voiced his support for its medical use when signing the order.
“The facts compel the federal government to recognize that marijuana can be legitimate in terms of medical applications, when carefully administered, in some cases. This may include the use as a substitute for addictive, potentially lethal opioid painkillers,” he said.
The schedule change will also allow licensed medical cannabis operators to deduct business expenses on their federal taxes but does not impact traditional access to banks for businesses in need of funding.
Bills introduced in Washington and Harrisburg aim to create more financial options for new cannabis companies, but Buettner says more federal action is likely needed before restrictions can be fully lifted.
“We really need a complete de-scheduling of cannabis for cannabis to be treated like every other business,” she said.
President Trump has emphasized this order only applies to approved medical use cannabis, but there will be a set of hearings beginning in June that will consider a rescheduling of all marijuana products down to Schedule III.