Federal Policy

Senate Democrats have again filed the Cannabis Administration and Opportunity Act, which seeks to legalize cannabis at the federal level and automatically expunge federal non-violent cannabis offenses.

Recent polling from the Independent Community Bankers of America found that 64% of Americans believe giving state-legal cannabis companies access to traditional banking services would benefit public safety.

The American Bankers Association said that even once cannabis is rescheduled to Schedule III under federal law, Congress will still need to pass the SAFER Banking Act to let state-legal cannabis companies access traditional financial services.

Cannabis company stocks soared on Tuesday following reports that the DEA would move to reschedule cannabis from Schedule I to Schedule III under federal law.

The DEA has reportedly agreed to reschedule cannabis under Schedule III of the Controlled Substances Act, in accordance with the FDA’s recent recommendation. While this development could loosen financial restrictions for brands operating in state markets, advocates have pointed out that it does not resolve the ongoing social injustices surrounding cannabis criminalization, and that it could benefit larger corporate entities that are angling to dominate the market.

Eight months after the federal Department of Health and Human Services recommended moving cannabis from Schedule I to Schedule III, a coalition of Congressional lawmakers this week urged the DEA to make its decision as quickly as possible.

FDA Commissioner Robert Califf said during testimony before a House committee this week that there’s “no reason” for the DEA to “delay” its cannabis rescheduling decision.

In a recent letter, 22 attorneys general called on members of Congress to tighten federal rules on hemp-derived cannabinoid products, arguing that the 2018 federal Farm Bill “unleashed… a flood of products that are nothing less than a more potent form of cannabis.”

Vice President Kamala Harris said last week that the Schedule I status of cannabis under federal drug laws is “absurd” and “patently unfair,” and urged the DEA to reschedule the plant under the Controlled Substances Act.

Leading veterans groups and U.S. law enforcement officials have urged the Biden Administration to reschedule cannabis, highlighting its potential benefits for veterans and the need for reform to enhance treatments and reduce unnecessary legal consequences.

Twelve Senate Democrats have urged the Biden Administration to remove cannabis from the Controlled Substances Act, countering a recent HHS recommendation for Schedule III that is currently being reviewed by the DEA.

About one-third of cannabis consumers say that if the expected federal shift to Schedule III were to require prescription-based transactions at pharmacies instead of the well-established dispensary model, they would go back to relying on the illicit market.

A recent survey found that President Biden’s cannabis reform efforts are popular among Americans, with the president standing to gain about 11% political support if he were to follow the HHS’ recommendation to reschedule cannabis.

Federal officials with the U.S. Department of Health and Human Services last week released the unredacted, 250-page document recommending the rescheduling of cannabis from Schedule I to Schedule III under the Controlled Substances Act.

Is the DEA planning to change the scheduling status of cannabis under the Controlled Substances Act? In a leaked letter to Congress, the agency has asserted their control over any decision about rescheduling or descheduling the plant.

Researchers with the Johns Hopkins University School of Medicine, with the support of a $10 million federal grant, are set to track 10,000 U.S. cannabis patients from the start of their medical cannabis journey through at least a year to better understand the efficacy and effects of cannabis medicine.

President Joe Biden has issued additional pardons for simple cannabis possession and use but once again stopped short of granting clemency to any prisoners currently serving time for cannabis-related convictions.

A think-tank focused on taxation in the US has released a report detailing how federal cannabis legalization could generate over $8 billion in annual tax revenue.

The latest Gallup poll found record-high support for the federal legalization of adult-use cannabis, with 70% of U.S. adults supporting the reforms.

A lawsuit in Alaska is challenging the Department of Natural Resources’ recently approved regulations to limit intoxicating hemp products, claiming the rules are unconstitutional.

Oregon Rep. Earl Blumenauer (D), a 27-year veteran of Congress and founding member of the Congressional Cannabis Caucus, announced this week that he will not seek reelection.