
The Biden administration is facing challenges in its efforts to loosen federal marijuana restrictions, with the top U.S. drug agency notably holding out. The Department of Justice (DOJ) is seeking input on the 'unique economic impacts' of marijuana rescheduling for the multibillion-dollar industry. A new bill proposes allowing medical marijuana dispensaries to grow recreational marijuana, a move opposed by some advocates who argue it would give medical marijuana operators an advantage. The SAFE Banking Act and insights from industry experts like Don Murphy highlight ongoing cannabis industry reforms. Reclassifying cannabis to Schedule III could significantly impact banking and tax practices, allowing deductions for business expenses for the first time. The rescheduling process has prompted federal agencies to accept public comments, with key reform groups preparing to influence the process. Meanwhile, cannabis companies are challenging the federal marijuana ban in court, facing a skeptical judge. OSU Law Professor Douglas Berman noted that marijuana rescheduling will have businesses rechecking their models. The reclassification could also impact real estate transactions and neuroscience research.

















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