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On Wednesday, the Biden administration took the furthest step towards legalizing weed since it was first criminalized, announcing it would reclassify marijuana from its current status as a Schedule I drug, on par with heroin and ecstasy, to Schedule III, which includes drugs such as ketamine and anabolic steroids that are allowed for medical use.
Nevada cannabis businesses and consumers could likely enjoy lower costs under a federal proposal to reclassify marijuana as a less dangerous drug, according to state cannabis experts.
In Nevada, the first recreational marijuana dispensaries opened in July 2017. The budding business boomed and now there are 698 operational licenses across the state. However, it hasn't been the financial windfall the cannabis industry was expecting.
Cannabis businesses and consumers could likely enjoy lower costs under a federal proposal to reclassify marijuana as a less dangerous drug, according to experts.