The potential rescheduling of marijuana is underway, with implications for major industry players. The rescheduling process, currently under review, could lead to significant financial benefits, including a projected $1.1 billion cash flow increase for marijuana companies. This boost is anticipated from the removal of IRS 280E, which restricts tax deductions for businesses involved in controlled substances. Meanwhile, the White House has refrained from commenting on President Biden's stance on the Department of Justice's proposal for marijuana rescheduling, emphasizing the ongoing nature of the review process.