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US Marijuana Rescheduling to Schedule III
The US DOJ, under Acting AG Todd Blanche, is reclassifying FDA-approved and state-licensed marijuana from Schedule I to Schedule III, with an expedited hearing planned for broader rescheduling. The move stops short of federal legalization but carries major implications for cannabis industry taxation, banking, and regulation.
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## Overview
The US Department of Justice is reclassifying FDA-approved and state-licensed marijuana as a less dangerous drug, moving it from Schedule I to Schedule III (SCMP, citing Acting Attorney General Todd Blanche).
## Key Details
- Announced by Acting Attorney General Todd Blanche on Thursday (SCMP).
- The announcement **does not legalize marijuana** across the United States (SCMP).
- Blanche said via a post on X that the DOJ was "immediately rescheduling FDA-approved marijuana and state-licensed marijuana from Schedule I to Schedule III" (SCMP).
- The department is also initiating an **expedited hearing** to consider broader rescheduling (SCMP).
## Why It Matters
Rescheduling has major implications for the cannabis industry, including tax treatment (Section 280E relief), banking access, research restrictions, and criminal justice policy. This is a long-anticipated federal policy shift with significant downstream effects for businesses, investors, and state regulators. The narrower scope (FDA-approved/state-licensed only) versus full descheduling is a key distinction attorneys and industry stakeholders will need to track closely.
## Outlook
Watch for the outcome of the expedited hearing on broader rescheduling, industry/investor reaction, state-level regulatory adjustments, and potential banking/tax policy changes tied to the new Schedule III status.