FDA Moves Medical Marijuana to Schedule Three

Acting Attorney General Todd Blanches order reclassifies FDA-approved and state-licensed medical marijuana from Schedule one to Schedule three, impacting tax rules for dispensaries and paving the way for increased medical research. This shift, effective June 29th, allows dispensaries to deduct business expenses, potentially improving operations and expanding medical options. However, unlicensed weed and recreational use remain unaffected, and states without medical programs see no change. The DEA will hold hearings on rescheduling all marijuana, which could further alter the landscape.

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