What to know about a federal order reclassifying medical marijuana as a less dangerous drug
Summary
President Donald Trump’s acting attorney general signed an order to reclassify medical marijuana as a less dangerous drug under federal law. This change moves medical marijuana from Schedule I to Schedule III, which could help medical research and make cannabis businesses more financially viable. However, recreational marijuana remains a Schedule I drug and is still illegal federally.Key Facts
- Medical marijuana was previously listed as a Schedule I drug, the most restricted category.
- The new order reclassifies medical marijuana as Schedule III, a less restrictive category.
- Schedule I drugs are considered highly addictive with no medical use; Schedule III drugs have moderate to low dependence risk.
- Recreational marijuana remains a Schedule I drug under federal law.
- The reclassification does not legalize marijuana federally but may encourage more medical research.
- Cannabis businesses licensed for medical marijuana may now qualify for new tax deductions on expenses.
- Difficulties exist in separating medical and recreational cannabis sales for tax purposes because many businesses sell both types.
- The Department of Justice plans a hearing on June 29 to consider whether all marijuana should be reclassified.
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