Dec. 18 at 8:55 PM
President Trump signed an executive order calling for AG Bondi to expedite the rescheduling of cannabis to a less-restrictive category.
The move doesn’t legalize cannabis federally & wouldn’t directly resolve banking challenges for marijuana businesses. But it would open the door for medical research that was previously stymied by pot’s stringent drug classification.
President Trump’s executive order is expected to eliminate tax burdens that have made profitability an uphill battle for many cannabis companies in states where they legally operate.
Marijuana has been federally classified since 1970 as a Schedule 1 drug. Moving to Schedule 3 would put cannabis in the same category as drugs that can be bought with a prescription at a pharmacy.
$TRUL.CSE CEO: “It’s a win for the millions of Americans who rely on medical marijuana today. It’s just a meaningful step towards modernizing cannabis policy and allowing the regulated industry to continue to displace illicit operators"
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