Cannabis Industry Reacts to DEA Rescheduling

The DEA has agreed to reschedule cannabis from a Schedule I to a Schedule III narcotic. While some legal professionals and advocacy groups within the industry consider this a move in the right direction, others have expressed concerns over the reclassification’s impact on equity, social justice, and market prosperity. McCarter & English Partner Ryan Magee spoke with Cannabis & Tech Today about the reschedule and said that for many, this may come as a mild disappointment. “While rescheduling is a step in the right direction, many advocates and policymakers saw this as an opportunity for DEA to de-schedule cannabis altogether. It doesn’t look like that is happening.”