Overview
- The DOJ order, signed Thursday by Acting Attorney General Todd Blanche, moves FDA‑approved cannabis and state‑licensed medical products from Schedule I to Schedule III.
- Reclassification lifts Section 280E limits so qualifying medical businesses can deduct routine expenses, and it lowers research hurdles by treating cannabis like other Schedule III drugs that still require DEA registration.
- The policy excludes adult‑use marijuana and does not legalize cannabis, and banking rules remain unchanged even as some lenders may reassess the risk of serving medical operators.
- The DEA set an expedited administrative hearing for June 29, 2026 to consider broader rescheduling that could address additional categories beyond state medical programs.
- Industry groups in Colorado and Arizona describe new breathing room on costs and investment, while public‑health advocates and the Wall Street Journal editorial board warn about youth risks, and recent polling shows Republican support for legalization has declined.