The Drug Enforcement Administration (DEA) has postponed its decision on potentially reclassifying marijuana until after the upcoming presidential election. This move follows a proposal from the Biden administration, aimed at easing federal restrictions on cannabis. The decision, accompanied by a scheduled hearing for December 2, has caused a stir within both the public and the cannabis industry. The postponement is seen as a critical moment, as it aligns with President Biden’s previous initiatives to reevaluate U.S. cannabis policy and his administration’s pardoning of individuals with federal convictions for simple cannabis possession. The Department of Health and Human Services (HHS) had earlier declared marijuana suitable for a less stringent classification, supported by the Food and Drug Administration’s (FDA) findings of its legitimate medical use.

The delay has sparked mixed reactions from industry stakeholders. Many cannabis businesses, which would benefit significantly from a reclassification to Schedule III, express frustration over the potential financial impact of continued taxation challenges under IRS regulations. The decision has also led to concerns regarding the ongoing delays in federal cannabis reform, with industry leaders and cannabis policy advocates emphasising the need for comprehensive legislation beyond rescheduling. Despite bipartisan support for marijuana reform, the DEA’s postponement is viewed as prolonging uncertainty for the industry’s future, with significant implications for business operations and public health policies.

Source: Forbes