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The Strategic Delay in Marijuana Rescheduling: Implications and Consequences

The Strategic Delay in Marijuana Rescheduling: Implications and Consequences

The anticipated rescheduling of marijuana from Schedule I to Schedule III has been delayed until after the 2024 U.S. presidential election. This decision has far-reaching implications for the cannabis industry, medical research, and public health policy.

Potential Impact of Schedule III Status

Tax Relief: Rescheduling would alleviate the harsh taxation under IRC 280E, potentially saving cannabis businesses millions in tax burdens.

Research Opportunities: Schedule III status would significantly ease restrictions on cannabis research, potentially accelerating medical breakthroughs.

Medical Legitimacy: This change would further legitimize cannabis as a medicine, potentially expanding access and insurance coverage.

Banking Access: While not solving all issues, it could improve cannabis businesses’ access to banking services.

Winners and Losers in the Delay

Winners

Prohibitionist Groups: Organizations like Smart Approaches to Marijuana (SAM) view this delay as a victory for their cause.

Illegal Market: Continued high costs for legal operators indirectly benefits the black market.

Big Pharma: Delayed research and medical legitimacy protects their market share in pain management and other areas where cannabis could compete.

Losers

Cannabis Businesses: Continued high tax burdens and operational challenges.

Medical Patients: Delayed access to potentially life-changing treatments and continued stigma.

Researchers: Ongoing restrictions on studying cannabis and its effects.

State Economies: Missed opportunities for economic growth and tax revenue from a fully realized legal cannabis industry.

Political Considerations

Election Strategy: The delay suggests cannabis policy is being used as a political chess piece for the 2024 election.

Federal-State Tension: Highlights the ongoing conflict between federal policy and state-level legalization efforts.

Public Opinion Gap: Demonstrates the disconnect between overwhelming public support for cannabis reform and the pace of federal action.

Action Needed

The clock is ticking. Every day of delay perpetuates injustice, stifles innovation, and denies relief to those in need. We cannot afford to wait for politicians to decide when it’s convenient to act. The time for change is now.

The cannabis industry’s potential to revolutionize healthcare, boost economies, and right historical wrongs is too great to ignore.

Stand up, speak out, and DEMAND the change we desperately need. The cost of inaction is too high. What will you to push progress forward?

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Cannado | \ ˌka-nä-ˈdō \ | noun

1: The embodiment of a lifestyle that harmoniously combines the values of cannabis culture and the universal concept of “do,” emphasizing wisdom, harmony, and the path to enlightenment.

2: An individual or entity that exemplifies the principles of “do” within the cannabis marketplace, renowned for their strategic prowess, ethical business practices, and holistic approach to industry challenges.

Cannado | \ ˌka-nä-ˈdō \ | verb

1: To practice business with the balance and focus of a martial artist, applying the principles of “do” in cannabis industry operations, signifying a methodical, disciplined approach to business strategy and execution.

2: To engage in the cannabis culture with a mindset of continuous improvement and ethical conduct, paralleling the journey of mastery found in martial arts, fostering a community of respect, learning, and growth.

Cannado | \ ˌka-nä-ˈdō \ | adverb

1: In a manner that reflects the principles of “do” within the cannabis industry, applying wisdom, balance, and strategic discipline to every action and decision.

Cannado | \ ˌka-nä-ˈdō \ | adjective

1: A harmonious fusion of cannabis culture and the philosophy of “do,” emphasizing relaxation, discipline, and peaceful conflict resolution, creating a unique lifestyle.

2: Reflecting a deep understanding of the cannabis trade’s dynamics, blending street-smart intuition with strategic foresight, embodying a fearless approach to thriving in a volatile business landscape following the principles of “do.”