Trump Executive Order Reschedules Medical Marijuana; Impact on Cannabis Companies
President Trump's executive order rescheduled medical marijuana from Schedule I to Schedule III under federal law in December 2023. While this change allows for potential tax benefits by removing Section 280E restrictions, it does not apply to recreational cannabis which remains classified as Schedule I. The move primarily affects companies like Canopy Growth and Tilray that focus on medical marijuana.
Topics: cannabis industry federal regulation medical marijuana