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President Trump has indicated that he is going to reschedule Cannabis, and the industry in Colorado is welcoming the change.
"While Colorado has legalized both recreational and medicinal marijuana, the federal government currently classifies it as a Schedule I drug. The Drug Enforcement Administration (DEA) defines that as a substance with 'no medical use and a high potential for abuse.' Schedule I drugs are considered the most dangerous and include heroin, LSD and ecstasy," reporting our of KOAA on Friday. "The reclassification would change marijuana to a Schedule III drug — with a moderate to low potential for physical dependence but high potential for psychological dependence — similar to Adderall or Tylenol with codeine."
Classifying cannabis as Schedule I treats it as having no accepted medical use and a high potential for abuse. This effectively blocks clinical research, bars physicians from prescribing it, and exposes users and businesses to severe criminal penalties. This classification reinforces federal prohibition, restricts banking and interstate commerce, prevents standard medical dosing and FDA approval pathways, and creates conflict with state legalization regimes — leaving patients, researchers, and operators in legal and regulatory limbo.
Moving cannabis to Schedule III would acknowledge accepted medical use and lower abuse risk designations, allowing FDA-regulated research, physician prescriptions, and pharmaceutical development — while reducing criminal penalties at the federal level. It would also unlock tax deductions for cannabis businesses under IRS rules, improve access to banking and insurance, and better align federal law with state programs — though recreational use would remain federally illegal and regulation would still be more restrictive than full descheduling.
The industry has operated via workarounds for a decade, so the change is a welcome one.
“It's very encouraging," SPHEREX Chief Revenue Officer Ryan Hunter told KOAA. "It takes a big shadow away from us and allows us to operate our businesses much more effectively."
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