The Biden administration is facing challenges in its efforts to loosen federal marijuana restrictions, with the top U.S. drug agency notably holding out. The Department of Justice (DOJ) is seeking input on the 'unique economic impacts' of marijuana rescheduling for the multibillion-dollar industry. A new bill proposes allowing medical marijuana dispensaries to grow recreational marijuana, a move opposed by some advocates who argue it would give medical marijuana operators an advantage. The SAFE Banking Act and insights from industry experts like Don Murphy highlight ongoing cannabis industry reforms. Reclassifying cannabis to Schedule III could significantly impact banking and tax practices, allowing deductions for business expenses for the first time. The rescheduling process has prompted federal agencies to accept public comments, with key reform groups preparing to influence the process. Meanwhile, cannabis companies are challenging the federal marijuana ban in court, facing a skeptical judge. OSU Law Professor Douglas Berman noted that marijuana rescheduling will have businesses rechecking their models. The reclassification could also impact real estate transactions and neuroscience research.
Cannabis businesses challenging US marijuana ban face skeptical judge https://t.co/dBN7Zipt8I https://t.co/YgNu328Vx4
President Joe Biden’s Underwhelming Marijuana Reform Accomplishments https://t.co/TuWFJn8loO
Cannabis companies square off in federal court with DOJ over marijuana prohibition $MSOS $MSOX $YOLO https://t.co/iOd9GhOe8l
DOJ Asks Judge to Dismiss Challenge to Federal Cannabis Ban https://t.co/WuZYWSYg1K
EDITORIAL: Reclassifying marijuana is just one step needed to protect businesses https://t.co/9Vdr6hav1q
Cannabis may be rescheduled–what does it mean for neuroscience? The drug could become much easier to access, increasing the number of researchers who can work with it and the manufacturers who can produce it. $MSOS $MSOX $YOLO https://t.co/0Nbj3rc6Aq
Feds Begin Accepting Marijuana Rescheduling Comments, With Key Reform Groups Previewing How They Plan To Influence The Process https://t.co/XhpodWKzvn
Reclassifying Cannabis, and Its Possible Impacts on Real Estate Transactions https://t.co/WVkmh4D472 | by @lowensteinllp
Proposed reclassification of #cannabis to Schedule III will have huge impact on banking & #tax practices of plant-touching companies. Deductions for bus expenses will be avail for first-time ever. https://t.co/G6Wt4acQCx
DEPC Exec. Dir. and @OSU_Law Prof. Douglas Berman (@SLandP) recently spoke with @ABAJournal on the most immediate cannabis industry impacts that will come from marijuana rescheduling. “It will have all these businesses rechecking their business models..." https://t.co/YyBG0LL1p3
SAFE Banking Act: Don Murphy's (@donmurphy12a) Insights On Cannabis Industry Reform https://t.co/sSLpSgLypR
Top U.S. Drug Agency A Notable Holdout In Biden's Push To Loosen Federal Marijuana Restrictions https://t.co/DYWkYTHlzc
Medical marijuana dispensaries could start growing recreational marijuana under a new bill. Some advocates oppose the legislation, saying it would give medical marijuana operators a leg up in the new industry. via @SarahKatMueller https://t.co/2D3G1HJQ8M
DOJ Seeks Input On 'Unique Economic Impacts' Of Marijuana Rescheduling For 'Multibillion Dollar Industry' https://t.co/0b6xmghLcr
Top U.S. drug agency a notable holdout in Biden's push to loosen federal marijuana restrictions. https://t.co/eOFNJEtEDC