More Accessible and Legal Medical Marijuana (Pros and Cons)

The cannabis community is pretty much split on the issue of rescheduling.

In 1970, under the Controlled Substances Act (CSA), the Food and Drug Administration (FDA) classified marijuana as a Schedule I substance, which effectively restricted research on its potential medicinal properties.

The Classification of Drugs range from Schedule I (highly risk of abuse and addiction) to Schedule V (low potential for abuse & addiction).

As of September 2023, Marijuana is classified as Schedule I drug. Schedule I classification means drugs that have no currently accepted medical use and aren’t considered safe to use even under medical supervision. They have a high potential for abuse and dependency.

A former top FDA official believes it is most likely that marijuana will be put in Schedule III of the CSA following an ongoing administrative review ordered by President Biden last year. FDA is mindful of political factors such as the 2024 election, the official said, so a policy change may come sooner rather than later.

What can impact the outcome is the election cycle coming up in 2024.

If the U.S. government CSA approves (as the Department of Health and Human Services [HHS] has now formally recommended) the shift could have profound implications for all sorts of cannabis-related issues, ranging from research to business taxes to U.S. Postal Service (USPS) mailing rules. Furthermore, with wider acceptance as a medical treatment, businesses in the cannabis industry could experience a significant boost in their profitability.

The decision to reclassify marijuana ultimately resides with the Drug Enforcement Administration (DEA), which could take months to complete its evaluation.

The nonprofit Veterans Cannabis Project has long pushed for veterans to get broader access to marijuana to treat post-traumatic stress disorder, depression, and chronic pain. Its founder said the HHS recommendation to loosen restrictions offers hope that the federal government will signal that marijuana has medical value.

Multiple requests to reschedule marijuana in the past have failed. In 2016 under the Obama administration’s the Drug Enforcement Administration (DEA) denied a request from two Democratic governors to change the classification because they cited concerns that cannabis had a high potential for abuse, no accepted medical use in the United States and lacked an acceptable level of safety for use even under medical supervision.

Twenty-three states and D.C. have legalized recreational marijuana, and medicinal use is lawful in 38 states. Owners’ dispensary around the Country are saying that the reschedule will benefit the industry, tax money will be reinvested in more jobs more construction projects, more research and product development. The president of the Virginia Cannabis Association, a trade group representing marijuana growers and dispensaries in the state, said the financial impact of reclassifying the drug, especially for small businesses, will be profound.

For companies that grow and sell cannabis, the reclassification would have significant tax implications. Under IRS code 280E, businesses that sell marijuana are taxed on gross income and are not allowed to deduct business expenses.

Americans do not want cannabis treated like heroin, like it is now. Still, they also do not want it treated like a Schedule III substance like ketamine, which is only legal to possess with a physician’s prescription. Some affirm that reclassification would continue to perpetuate a system that disproportionately affects minority communities, leaving the social justice promise of cannabis reform unfulfilled.

Others think that rescheduling will hand the industry over to Big Pharma. The current industry will eventually be replaced by the pharmaceutical industry, marijuana reform is often blocked by Big Pharma because they want the opportunity to control it.

Thirty-five years ago on Sept. 6, 1998, DEA Chief DEA Judge France Young, after holding hearings, ruled: “Marijuana, in its natural form, is one of the safest therapeutically active substances known to man. By any measure of rational analysis marijuana can be safely used within a supervised routine of medical care. It would be unreasonable, arbitrary, and capricious for DEA to continue to stand between those sufferers and the benefits of this substance considering the evidence in this record.”

In conclusion, the debate surrounding the rescheduling of marijuana is far from settled. As we have explored, there are compelling arguments on both sides, and the decision carries significant implications for various sectors, from healthcare to the economy. The future classification of marijuana under the Controlled Substances Act (CSA) remains uncertain, with the Drug Enforcement Administration (DEA) tasked with evaluating the matter.

While some argue that rescheduling could open doors to expanded research, economic growth, and increased access to treatment, others raise concerns about the potential influence of Big Pharma and the perpetuation of inequalities. The decision, when it comes, must be made with careful consideration of individual well-being and the prevention of monopolies.

As this ongoing debate unfolds, it is crucial for all stakeholders to stay informed and engaged. The decisions made will have lasting effects on the lives of countless individuals, the cannabis industry, and the trajectory of marijuana reform. Whether you advocate for rescheduling or oppose it, one thing is clear: the path forward must be guided by thoughtful, evidence-based decision-making that prioritizes the interests of both the public and the industry.

The rescheduling of marijuana is a complex issue, and the final decision will require a delicate balance between science, economics, and social justice. As we continue down this path, let us remain vigilant, informed, and committed to fostering a society where marijuana is managed in a way that benefits all.