Summary
The article discusses potential changes to U.S. federal cannabis laws. President Trump is considering reclassifying cannabis to make penalties less severe, while Congress re-introduced a bill aiming to remove the ban on marijuana. Despite state-level legalizations, cannabis remains a federally restricted substance.
Key Facts
- Seth Ferranti was imprisoned for 21 years in the 1990s for non-violent drug offenses related to cannabis.
- Marijuana is legal in some states but still classified as a Schedule I drug federally, making it illegal.
- Nearly 90% of Americans support legalizing marijuana for at least medical use.
- Democrat lawmakers re-introduced the MORE Act to end the federal ban on cannabis.
- President Trump is considering changing cannabis from Schedule I to Schedule III, which reduces penalties but does not fully legalize it.
- The current federal classification of cannabis limits tax deductions for cannabis businesses under tax code section 280E.
- Federal prohibition affects banking services for cannabis businesses, forcing them to rely on cash transactions.
- As of 2023, cannabis is fully legal in 24 states and allowed for medical use in 12 others.
