The Drug Enforcement Administration (DEA) has agreed to loosen restrictions on marijuana, proposing a historic reclassification that reflects public support for reform. This change, the most significant since the Controlled Substances Act of 1970, aims to address social divisions and improve the legal framework for cannabis. Industry leaders see Nevada's market as an opportunity to innovate, while equity advocates hope for a more structured market with enforced regulations. However, challenges remain, such as aligning state markets with federal law, as noted by congressional researchers, and the potential transformation of dispensaries into pharmacies. Financial implications include a gradual reduction in tax burdens, as reviewed by ABFinWright's Rachel Wright and Simon Menkes.