CNBC August 31, 2023
Key Points
– The Biden administration wants to reconsider how marijuana is treated at the federal level.
– This marks the first time that a federal agency has acknowledged rescheduling marijuana to a lower level.
– If approved, the move will have wide-reaching implications for the marijuana sector in the areas of taxation, interstate commerce and research.
This week, the Department of Health and Human Services asked the Drug Enforcement Agency to consider easing restrictions on marijuana upon a review of its classification under the Controlled Substances Act.
It could be a significant catalyst for an industry hemmed in by federal regulations even as legalization picks up on the state level.
Marijuana stocks were higher Wednesday on the news. Aurora...
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