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Instant view: Biden administration plans to reclassify marijuana

Below are some reactions from industry insiders and experts. This represents the most significant step towards federal cannabis reform in U.S. history and will provide much-needed relief to operators of all shapes and sizes, allowing us fair tax treatment by eliminating 280E. Rescheduling cannabis is a crucial move towards federal legalization . We anticipate a surge in liquidity as sidelined capital enters the market, drawn by the potential for legal businesses to thrive. ....

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Explainer-How US change on marijuana would help cannabis companies

The U.S. Justice Department is moving to make marijuana use a less serious federal crime with a proposal to reclassify the drug as on par with Tylenol with codeine, rather than heroin, according to sources. Under the Controlled Substances Act, marijuana is listed as a schedule one substance, meaning it has a high potential for abuse and no current accepted medical use. The Department of Justice, which oversees the Drug Enforcement Administration, recommended that cannabis be classified as a so-called schedule three drug, with a moderate to low potential for physical and psychological dependence. ....

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