cannabis rescheduling

The Highs and Lows of Cannabis Rescheduling

by | Jun 4, 2024

cannabis rescheduling

Written by Kristina Etter

Kristina is a digital content creator and designer. She has a talent for creating engaging and informative content that resonates with our professional audience. Kristina’s passion for the cannabis industry stems from her belief that it has the potential to revolutionize the world in many ways, and has a personal testimony of cannabis success.

The Potential Impact of Cannabis Rescheduling: Industry Insights and Speculations

The recent announcement by the DEA to reclassify cannabis from a Schedule 1 to a Schedule 3 substance has sent ripples through the cannabis industry. To explore the potential implications of this monumental shift, we reached out to a diverse group of industry leaders. From policy advocates to business operators, these experts provided their insights, hopes, and concerns regarding the rescheduling of cannabis.

In this special episode of Cannabis Tech, we dive deep into the ramifications of this reclassification. Here’s a preview of the key questions we asked and the thoughtful responses we received:

1. How do you think cannabis rescheduling from Schedule 1 to Schedule 3 will shake things up for you?

The rescheduling of cannabis has the potential to change the landscape for businesses across the industry drastically. As different segments anticipate the change, it’s important to recognize that rescheduling doesn’t mean the same for everyone.

2. Any juicy opportunities you’re eyeing with cannabis rescheduling? Spill the beans!

Many industry leaders are eyeing exciting new opportunities that rescheduling might unlock. From freeing up the cash-locked industry to providing avenues for consumer education, the end of 280E has the industry eyeing the possibilities.

3. On the flip side, are there any nightmares keeping you up at night about how this change might affect your business?

Concerns about the rescheduling are just as prevalent as the excitement. While the horror stories of Schedule III handing the industry to big pharma are likely overblown, rescheduling cannabis can have a significant impact on rules and regulations and the uncertainty is only causing more stress.

4. Can you give us the inside scoop on how cannabis rescheduling might directly hit your operations or bank account?

Financial implications are a major concern for many in the industry. With traditional banking and finance option becoming more accessible, rescheduling could strike a major windfall into industry coffers.

5. Brace yourself: how do you think the red tape dance will change for your biz as it relates to cannabis?

Regulatory changes are a given with rescheduling, and industry leaders are preparing for the challenges ahead. No one expects federal regulation to be easy, but they do expect it to be achievable.

Voices from the Field

We were fortunate to hear from a wide array of industry experts, each bringing their own unique perspective to the discussion:

  • Matt Traverna, Statara
  • Aaron Smith, National Cannabis Industry Association
  • Kim Caisey, Bermuda Cannabis Association
  • Jim Harris, SafetyNet America
  • Michael Wang, ISpire
  • Lance Lambert, Grove Bags
  • Aaron Bloom, MJDoc
  • Evan Nison, Nison PR
  • Colleen King, Ciclo.Tech
  • Scott Solomon, OSS
  • Kyle Turley, former NFL player and founder of the Cannabis Freedom Party and Revenant Cannabis in Missouri
  • Kevin Brooks, Conception Nurseries
  • George Sadler, Gelato Cannabis

First-Hand Industry Insights

The rescheduling of cannabis from Schedule 1 to Schedule 3 is a pivotal moment for the industry. While there are undeniable opportunities, businesses must also navigate significant challenges and uncertainties. In this video, we take a comprehensive look at the potential impacts, drawing on the expertise and experience of some of the industry’s most influential figures.

Watch the video for detailed insights and personal anecdotes from our guests as we explore the future of cannabis in this rapidly evolving landscape. Whether you’re a business owner, a consumer, or simply curious about the industry, this episode is packed with valuable information and expert analysis that you won’t want to miss.