News & Insights
U.S. HHS Recommends Cannabis Move to Schedule III of the Controlled Substances Act
On August 30, 2023, the U.S. Department of Health and Human Services (HHS) recommended to the U.S. Drug Enforcement Administration (DEA) that cannabis, currently a schedule I controlled substance, be reclassified as a schedule III controlled substance under U.S. federal law. This recommendation, if adopted by the DEA, could have a monumental impact on the U.S. state legal cannabis industry.
Federal Cannabis Rescheduling Decision Expected by the End of the Year
The secretary of the U.S. Department of Health and Services has suggested we may know by the end of this year whether cannabis will be rescheduled or descheduled from the Controlled Substances Act, which may be the key to a new revived “green rush” of capital into the financially-challenged cannabis industry.