Recent rules proposed by the Drug Enforcement Administration aim to reclassify cannabis as a schedule III drug, raising an important question for the nearly 15,000 dispensaries in the US: what does this mean?
Cannabis, particularly cannabis containing delta-9 THC, occupies a bizarre legal gray area. It’s illegal on the federal level, but legal for either medical or recreational use in 39 states. The DEA classifies it as a schedule I substance, meaning it’s on par with potentially deadly drugs like heroin, yet nearly 4 million Americans use it with a doctor’s approval. Recreational dispensaries can’t easily access federally regulated institutions, like banks, and yet they pay federal taxes.
