Written by Shanel Lindsay, Founder and President ofArdent
As cannabis legislation continues to pass in statehouses and ballot referendums across the country, changes to the federal statutes cannot be far behind. The strategy behind federal legalization, however, is just as important as achieving the goal. The way legalization unfolds at the federal level will directly impact the type of industry cannabis will ultimately become.
The Controlled Substance Act defines Schedule 1 drugs as chemicals or substances that “have no medicinal value” and “pose a high potential for abuse”. Heroin, LSD, “MDMA (commonly referred to as ecstasy)”, and peyote are amongst the list, as well as, marijuana. Although thirty-three states and the District of Columbia have legalized medical marijuana, it continues to be classified as a Schedule 1 drug. The rescheduling of marijuana would acknowledge its medicinal value whereas, de-scheduling would allow for the broadest form of regulation.
The rescheduling of marijuana to one of the other four categories would make it possible to regulate for medicinal purposes. Schedule 2 drugs are commonly known substances such as hydrocodone (Vicodin),…