While marijuana has been legal in Missouri since 2023, this has not been the case at the federal level. But, the U.S. Drug and Enforcement Agency (DEA) is debating rescheduling marijuana as a less dangerous substance.

This could mark a significant shift in how the substance is regulated. Since the 1970s, marijuana has been classified as a Schedule I drug, placing it alongside substances like heroin and MDMA. This classification severely restricts its use and research potential.

However, if marijuana were to be rescheduled, it would not legalize it at the federal level but rather place it in a less restrictive category, similar to substances such as ketamine or testosterone. This change would not only impact taxation for existing marijuana businesses but also open avenues for further research into its medical applications.

Adam Terry, CEO and Co-Founder of Cantrip, explains that while rescheduling wouldn't legalize cannabis or allow doctors to prescribe it, it would enable marijuana companies to be taxed like any other business. This shift could represent a significant investment in the industry by the government, albeit through tax relief.

Furthermore, rescheduling would not automatically make state marijuana programs legal under federal law. Instead, it would reduce penalties for state-licensed businesses in the event of federal enforcement actions, providing a measure of protection.

Crucially, rescheduling would also remove some of the barriers to research. Currently classified as having no accepted medical use and a high potential for abuse, marijuana's Schedule I status severely limits scientific exploration into its therapeutic properties. Rescheduling would facilitate clinical trials and research initiatives aimed at understanding its potential benefits and risks in treating various medical conditions.

The next steps in the rescheduling process involve review by the White House Office of Management and Budget, followed by a public comment period. While rescheduling wouldn't dramatically alter the landscape of marijuana regulation, it represents a step toward broader acceptance and understanding.

In Missouri and beyond, rescheduling marijuana is seen as a positive step forward, albeit one that falls short of full legalization. Nonetheless, it holds promise for unlocking the medical potential of cannabis and addressing longstanding regulatory challenges.