Overview
- Federal officials issued a final rule that moves FDA-approved and state-licensed medical marijuana to Schedule III, while recreational products remain in Schedule I.
- Registered researchers will be able to obtain state-market flower, edibles, and other products from DEA-registered, state-licensed businesses, which makes randomized clinical trials more feasible.
- Industry experts say the change could open access to banking and allow permitted import and export, with potential relief from IRS Section 280E once Treasury and IRS clarify timing.
- The order does not legalize marijuana under federal law, states can still prohibit sales, and synthetic cannabis is not covered.
- Next steps include a late-June DEA hearing on broader rescheduling and interagency guidance from DEA, FDA, Treasury, and IRS on registrations, banking, and tax treatment.