420 with CNW — AG Releases Ballot Explanation for Measure to Legalize Cannabis in South Dakota at the Polls

Last week, South Dakota’s attorney general released a ballot explanation for a prospective initiative that would legalize adult-use cannabis in the state and allow dispensaries to serve individuals aged 21 years of age and older. The resolution, which was sponsored by Emmett Reistroffer, would permit anyone aged 21 and older to cultivate, possess, ingest and distribute cannabis or cannabis paraphernalia. Reistroffer is the operations director at Genesis Farms, a medical marijuana company.

Under the measure, adults could also grow no more than 6 marijuana plants, with not more than 12 plants in every household; the can also possess up to three ounces of cannabis. It is important to note that driving while under the influence of cannabis would still be illegal, as would marijuana-related activity by those below the age of 21.

According to the final explanation by Attorney General Marty Jackley, property owners and employers could still prohibit the use of cannabis under the measure. Additionally, sales would occur via existing medical cannabis dispensaries, which could acquire dual-use licenses via the Department of Health.

With regard to possession, adults could possess no more than 24g of concentrated marijuana as well as other nonconcentrated marijuana products that contained less than 2,400mg of THC.

For the resolution to qualify for the 2024 ballot, organizers will need to collect no less than 17,510 signatures from registered voters by May 2024. Once placed on the ballot, a majority vote would allow the measure to pass.

In his latest statement, Reistroffer noted that he had no plans to campaign or collect signatures for the resolution in 2024 because he didn’t want to compete with the other legalization initiative that was already collecting signatures with the aim of being included in next year’s ballot.

Meanwhile, organizers for the other legalization proposal received the AG’s final summary a couple of months ago. The proposal, which is sponsored by South Dakotans for Better Marijuana Laws, would allow those aged 21 years of age and older to distribute marijuana. The initial form of this measure was amended to eliminate the word “sell.” This move made its language unclear, with the AG’s summary noting that legislative or judicial clarification was necessary.

A previous statement by Reistroffer highlighted some of the differences between his proposal and the South Dakotans for Better Marijuana Laws legalization measure. For instance, while his resolution included regulation and licensing via the health department, the other proposal did not touch on this matter. Additionally, while Reistroffer’s proposal would establish a path to legal sales that would generate sales tax for the state, the other proposal would generate no taxes. Furthermore, while his proposal focused primarily on legal sales and regulations, the other resolution mainly centered on noncommercial legalization.

Many marijuana companies, such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), may take an interest in the way the push to legalize cannabis in South Dakota plays out as the rift between different campaign groups could harm the reform movement.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — Policy Analyst Says Marijuana Legalization ‘Inevitable’

A policy analyst from TD Cowen says that cannabis legalization in the United States is “inevitable” and believes that it is just a question of weathering a bumpy legislative landscape for the next several years. Originally, many analysts thought federal cannabis legalization was finally on track after the Democrats secured the House, Senate and White House, especially as President Joe Biden had based part of his campaign on cannabis reform.

However, while the Biden administration has taken some cannabis-related action, including issuing a mass pardon for people with certain cannabis-related convictions, the administration has barely made any moves to legalize cannabis at the federal level.

With President Biden’s first term fast approaching its end, many pundits and investors are quickly losing hope for federal cannabis legalization, particularly in the next couple of years. Capital investment in the state-legal cannabis industry is extremely low, and the AdvisorShares Pure U.S. Cannabis ETF, current holder of all U.S.-based marijuana companies, is trading at just $6.80 a share down from around $52 a share in early 2021.

Federal prohibition has made operating in the cannabis sector almost untenable; cannabis businesses are barred from interstate commerce, they struggle to obtain investment and financing, and they aren’t allowed to make normal business tax deductions. Even so, TD Cowen policy analyst Jaret Seiberg says federal legalization is inevitable. Polls show that a majority of the American population is in favor of either decriminalization or outright legalization, and a cadre of top lawmakers has thrown their weight behind cannabis reform.

Bipartisan legislation such as the SAFER Banking Act seeks to legitimize the cannabis sector by allowing industry players to access financial services from banking institutions. Senate Majority Leader Chuck Schumer and other senators have also been working on a bill that would legalize cannabis at the federal level.

In addition, a group of Massachusetts cannabis businesses has filed a lawsuit alleging that the Controlled Substances Act, which classifies cannabis as a Schedule I controlled drug, is an unconstitutional infringement on the power of states with legal cannabis. Although a favorable ruling wouldn’t make interstate cannabis trade any easier, it would significantly ease the operations of already existing cannabis businesses by granting them access to essential financial services, such as bank accounts and cashless payments.

Legalization may also be spurred by executive action. For instance, Biden recently asked the U.S. Department of Health and Human Services (HHS) to review marijuana’s federal status as a controlled substance. Subsequently, a letter dated Aug 29, 2023, which was obtained by Bloomberg, revealed that a top HHS official had recommended that the Drug Enforcement Agency (DEA) reschedule cannabis from Schedule I of the Controlled Substances Act (CSA) to Schedule III.

The cannabis industry, including enterprises such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), awaits any definitive action taken by the DEA as this will have a major effect on the trajectory of the marijuana industry in the United States.

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420 with CNW — Genomic Study Gives Insights into Why Individuals Suffer from CUD

An examination of the genetic makeup of more than a million individuals, spearheaded by researchers at Yale, has provided valuable insights into the biological foundations of marijuana use disorder and how it relates to mental health issues, substance misuse (including tobacco) and potentially even a higher risk of lung cancer.

The study examined the genomes of participants from a range of ancestry groups, utilizing information from many genomic databases in addition to the extensive genetic data bank of the United States Veterans Affairs’ Million Veteran Program (MVP).The analysis revealed many genetic variations connected to marijuana use disorder, providing insight into a range of behavioral and physical problems related to the condition.

The study, published in the “Nature Genetics Journal” this month, was led by Daniel Levy, an assistant professor of psychiatry, and Joel Gelernter, a professor at the Foundations Fund of Psychiatry and Genetics and Neuroscience.

According to the Centers for Disease Control and Prevention (CDC), 48 million individuals, or 18% of the American population, used cannabis at least once in 2019, making cannabis the most widely used federally illegal substance in the country. Previous research indicates that roughly 10% of cannabis users develop an addiction, while three out of ten users have a marijuana use disorder, which is defined as an unfavorable pattern of use that results in clinical impairment or suffering. Furthermore, another study found that those who began using marijuana throughout childhood or adolescence and who use it more regularly have a higher chance of developing the disorder.

The newly unveiled genetic findings provide nuanced views into the underpinnings of this phenomenon and its potential ramifications on health. Notably, certain genetic variants associated with marijuana use disorder were identified in genes responsible for encoding three distinct types of neuron receptors, indicating an elevated risk of developing this disorder.

Intriguingly, there was a correlation found between these same genetic variations and an elevated risk of lung cancer. The researchers, however, underscore the necessity for further investigation to disentangle the influences of tobacco smoking and other factors on cancer diagnosis from those associated with cannabis use.

Joel Gelernter emphasized the significance of this study, labeling it the most extensive genome-wide exploration of marijuana use disorder to date. He also noted that as cannabis legalization and decriminalization efforts gain momentum across states, studies of this nature are instrumental in comprehending the accompanying health risks.

This study helps to clarify that individuals who develop cannabis use disorder often have a genetic predisposition to this condition. For that reason, most members of the general population can safely use marijuana products from any of the many companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) for recreational or medical reasons without having a high risk of developing CUD.

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420 with CNW — Survey Shows Growing Investor Interest in Cannabis MSOs

A recent survey indicates a growing optimism among institutional investors towards U.S. marijuana multistate operators (MSOs). Conducted by Calgary-based ATB Capital Markets, the survey involved 23 institutional investors, primarily hedge funds.

Frederico Gomes, the lead author of the report and a marijuana equity analyst, highlighted the increased bullish sentiment among investors, driven primarily by the potential rescheduling of marijuana by the federal government. The survey reveals that about 61% of respondents believe U.S. marijuana MSOs will outperform the S&P 500 in the next year. However, despite this positive sentiment, Gomes notes that the capital influx has not yet aligned with the bullish outlook from an institutional perspective.

The likelihood of the U.S. government rescheduling cannabis from Schedule 1 to 3 within the next 18 months was perceived as 75% by the surveyed investors. Yet, the majority of them reported either no change or reduced exposure to MSOs in the past six months. This indicates a cautious approach, possibly due to past regulatory uncertainties.

Investors expressed a 50% probability of Congress passing the SAFER Banking Act, legislation facilitating financial institutions to serve state-legal marijuana businesses without federal repercussions. This uncertainty is attributed to past failures in marijuana banking reform legislation and political ambiguities surrounding the new GOP speaker of the U.S. House of Representatives, Mike Johnson.

ATB sought to understand the factors influencing investors’ willingness to invest more in MSOs. Cannabis rescheduling emerged as the top priority for nearly 61% of respondents. On the other hand, the possibility of more MSO stock listings on the Toronto Stock Exchange (TSE) was deemed to be the least significant element.

Regarding capital allocation preferences, investors indicated a preference for MSOs to prioritize deleveraging and debt repayment, with organic growth being the second-most desired behavior. Mergers and acquisitions were not favored, and share repurchases ranked as the least-desired way for MSOs to allocate capital.

While investors displayed increased bullishness towards U.S. MSOs, their outlook on Canadian licensed retailers and producers was less optimistic, with 60% expecting underperformance compared to the S&P 500. The negative sentiment in Canada is attributed to poor operating results and shareholder dilution.

Interestingly, the survey revealed that only 52% of investors expressed interest in Canadian marijuana retailers and producers. This disparity can point to a possible acquisition opportunity for investors who are not conventional thinkers in the Canadian marijuana market.

Gomes noted that investors are wary due to past setbacks and are waiting for signs of improvement in terms of profitability and sustainable operations. The report notes that achieving sustainable profitability and positive free cash flow is seen as the most crucial factor, followed by a reduction in excise taxes.

As the policy direction of the United States becomes more clear after the U.S. Drug Enforcement Administration releases its rulemaking recommendation, cannabis companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) may attract more investor interest.

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420 with CNW — Study Finds Higher Increase in Home Valuations in Legal States vs. Cannabis Prohibitionist States

Home values in states with legal cannabis markets have grown at significantly faster rates over the past decade compared to prohibitionist states. According to a Leafly and Real Estate Witch study, homes in cannabis states are 41% higher in value than homes in states without legal cannabis markets.

The paper looked at the potential impact of recreational or medical cannabis markets on average American home prices from 2014–2023.

Although states such as California began legalizing medical cannabis more than a decade ago, the past decade has seen a multitude of states legalize the controversial plant. With dozens of states now allowing medical and recreational cannabis, tens of millions of Americans now have access to either medical or adult-use marijuana.

However, several states still outlaw both recreational and medical cannabis, meaning there are plenty of Americans who are still criminalized for cannabis possession and use.

Cannabis remains the most used drug in the country, even in states that still criminalize it, and it seems the drug may now be affecting real estate values across the country. The analysis revealed that average home prices in states with recreational cannabis markets increased by $185,075 since 2014 compared to $136,092 in states without adult-use markets.

As a result, average home prices in recreational cannabis states hit $417,625 by the end of the study period while average home prices in nonrecreational marijuana states were 41% lower at $295,338. States with medical marijuana markets also registered faster home value growth compared to states without medical cannabis reform, growing by an average of $166,609 since 2014 compared to $137,320 in prohibitionist states.

According to the report, it isn’t surprising that states that embraced cannabis reform are registering significant increases in home values because real estate always appreciates over time. However, the gap between states with cannabis markets and prohibitionist states “sticks out like a green thumb,” the report noted.

There was even evidence of cannabis reform affecting home values at local levels with cities that had licensed cannabis retailers seeing an average home price increase of $168,292 since 2014. In comparison, cities without cannabis dispensaries saw an increase of only $100,933 in the same period, indicating that cannabis legalization may have some effect on property values.

Leafly vice president of brand and communication Josh deBerge said the report is evidence of what many cannabis community insiders have known for a long time: cannabis reform does not diminish property values. Rather, licensing cannabis firms such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) boosts demand for residential and commercial property.

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420 with CNW — Scientists Discover Little-Known Compounds That Give Marijuana Unique Flavors

Scientists from the American Chemical Society have identified previously undiscovered cannabis compounds that they say are actually responsible for marijuana’s unique flavors. For the longest time, the conventional knowledge has been that chemical compounds called terpenes create the distinctive aromas of different cannabis strains. Marijuana is estimated to contain close to 400 terpenes, but researchers have discovered only around 200 and studied more than a dozen.

Outside of the cannabis plant, there are more than 20,000 known terpenes, which create the unique flavors and aromas of flowers, herbs, fruits and vegetables. As such, the assumption was that terpenes were also responsible for the aromas produced by various marijuana strains. However, the recent American Chemical Society study challenged conventional knowledge through the discovery of previously unknown compounds and raised questions surrounding the true source of marijuana’s varied and unique flavors.

The study involved a research team from cannabis testing and extraction companies. The researchers wrote that the role of terpenes in cannabis aroma variety seemed to be blown out of proportion. Terpenes account for an estimated 1% to 4% of a cured cannabis flower’s total mass, the researchers said, and while the terpenes contribute to the plant’s overall smell, they don’t play a major role in creating the “peculiar aromatic attributes” of different marijuana varieties.

According to the researchers, most of the aromatic information for various cannabis strains comes from flavorants, a group of chemicals encompasses compounds, including alcohol and esters. The researchers say they discovered various “nonterpenoid compounds” upon analyzing 31 samples of ice hash rosin.

They specifically noted a novel group of tropical volatile sulfur compounds (VSCs) that significantly contribute to the strong aroma of tropical fruits such as citrus as well as a highly aromatic compound called skatole (3-methylindole). Flavorants are also largely responsible for exotic scents in Gelato, Skittles, Runts and Apple Fritters.

TJ Martin, the research & development VC of Abstrax, an extraction company, says the research team found a clear connection between previously undiscovered cannabis compounds and the plant’s notoriously pungent aromas. The team found that although terpenes played a role in producing marijuana aromas, they weren’t essential in the differentiation of aromas in various cannabis strains.

Terpenes are often used to differentiate different cannabis varieties, but Abstrax CEO and cofounder Max Coby notes that this often results in inaccurate classifications. Max says the research team’s discovery will play a significant role in the validation of marijuana authenticity as well as the accurate classification of different marijuana varieties.

It wouldn’t be surprising if major marijuana companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) provide the detailed flavoring profiles of their future products in order to differentiate their offerings from other products on the market.

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420 with CNW — Studies Assert Cannabis’ Safety over Tobacco

Approximately twice as many individuals in the United States perceive that smoking cigarettes poses a more substantial threat to one’s well-being compared to smoking cannabis, and they are correct. Numerous investigations examining the prolonged health consequences of inhaling marijuana smoke dispel the myth that cannabis carries the same well-established detrimental respiratory risks as tobacco.

A case in point is the federally funded study conducted at the University of California where researchers examined the lifetime risk of developing lung cancer among more than 2,000 individuals who were long-term users of marijuana and tobacco or abstained from smoking. The results revealed that those who habitually indulged in tobacco smoking were confronted with a lung cancer risk 20 times higher than nonsmokers, while those who exclusively smoked marijuana showed no increase in their risk.

The lead author of the study expressed that the team’s initial hypothesis of a positive link between marijuana use and lung cancer was entirely refuted as the findings indicated no association and even suggested a potential protective effect.

In a more recent study, a group of healthcare experts contributing to the “Chronic Obstructive Pulmonary Diseases” journal ascertained that past or current cannabis smokers, regardless of cumulative lifetime consumption, did not experience a progression or onset of COPD.

Various other studies assert that the carcinogenic properties of cannabis smoke do not rival those of tobacco and individuals who exclusively use marijuana are exposed to fewer carcinogens and toxicants. Some scientists also propose that the anticancer properties of cannabinoids may mitigate the potential harms associated with inhaling smoke.

Recent research published in the “American Journal of Respiratory and Critical Care” reiterates the distinction, emphasizing that cannabis impacts lung function differently from tobacco. The consequences of widespread cannabis use do not necessarily mirror the harm attributed to tobacco smoking.

A review paper, authored by researchers at the University of Arkansas, unambiguously underscores the contrast, stating that the evidence regarding marijuana stands in stark contrast to the consistent proof of harm from tobacco, the world’s most lethal legal substance. Any conceivable toxicity related to marijuana pales in comparison.

This is not to imply that exposure to cannabis smoke is completely harmless. Marijuana smoke does contain some of the same toxins and particulates found in cigarette smoke. Certain studies have linked cannabis smoking to transient increases in sputum production, wheezing and an elevated bronchitis risk.

Nonetheless, adopting a vaporizer can substantially diminish exposure to combustive toxins. Laboratory research demonstrates that herbal marijuana vaporizers serve as an effective and safer medium for delivering THC, avoiding the inhalation of combustion byproducts. Furthermore, marijuana compounds can be incorporated into a diverse array of products that negate the need for smoking, including edibles and beverages.

The consistent message conveyed by these studies is unmistakable: the disparities in risks between marijuana and tobacco smoke are undeniably significant. This provides additional validation for the belief by enterprises in the cannabis space such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) that not only has marijuana been unfairly maligned for decades, its supposed risks have also been grossly exaggerated by prohibitionists.

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420 with CNW — International Report Says Drug War Compromises Efforts to Attain Environmental Justice, Fight Climate Change

An international coalition of advocacy groups has released a report outlining how the global war against drugs has compromised efforts to deal with the climate crisis and accelerated the environmental destruction of crucial ecosystems across the world. While the initial days of the drug war are long gone, especially in nations such as the United States, Canada and Australia, which are now embracing drug reform, its harmful effects are still felt in many facets of society.

One of the most dire results of the drug war was almost unparalleled growth in the illicit drug market that has significantly contributed to global organized criminal activity and impacted the environment in a myriad of harmful ways. This includes mind-boggling levels of water theft by the illicit cannabis industry and significant environmental damage by fertilizers, pesticides, fuels and all kinds of waste.

The International Coalition on Drug Policy Reform and Environmental Justice is comprised of artists, activists, academics and advocates from the environmental and drug-policy reform movements. The coalition published a 63-page report stating that its efforts to protect tropical forests across the globe will likely fail as long as climate change and environmental activists continue to ignore how global drug prohibition has impacted environmental justice.

With the world actively working to mitigate climate change amid increasing instances of disrupted and extreme weather, protecting tropical forests is crucial to mitigating global warming. Tropical forests are prolific carbon sinks and are estimated to store around 46% of all living terrestrial carbon in the world as well as around 11.55% of the globe’s soil carbon pool.

The report called drug policy the missing link in delivering proper climate justice, stating that prohibitionist drug policies have pushed illicit drug production and trafficking into key ecosystems such as the jungles in Southeast Asia as well as the Amazon.

Players in the illicit drug market cultivate drug crops and traffic illicit drugs through tropical forests because law enforcement puts them in that position, the report said. In cases where the cultivation of drug plants such as opium, coca and cannabis is legal and regulated by governments, cultivation almost always occurs in traditional agricultural settings.

Furthermore, the report noted that the money earned from illicit drug operations often funds further criminal activity that harms the environment, such as the illicit trade of tropical timber, wildlife, minerals, precious metals such as gold, archeological artifacts and even human trafficking. The drug war continues a cycle of persecution and poverty against the most vulnerable people in society, the report said, pushing them into the illicit drug trade as a means of desperate survival.

The report estimates that around 200,000 Colombian families currently make a living from growing coca as the financial benefits it offers supersedes persecution from the military and police. Furthermore, the drug war often incarcerates lower-level players such as farmers who often lose their livelihoods while top players face no consequences.

In jurisdictions where marijuana is legal, licensed companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) not only create well-paying job opportunities but also contribute to communities in various ways, such as paying taxes and giving ancillary businesses market for their products.

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420 with CNW — Marijuana Companies in Canada Tap Government Funding Programs

An increasing number of Canadian marijuana companies are tapping into funding sources from the government to expand their research projects amid reduced investor interest in the cannabis industry. According to a recent MJBizDaily report, cannabis companies in Canada have accessed more than $2.2 million (C$3 million) in federal funding over the past 12 months.

Cannabis companies in Canada and the United States have struggled to secure capital investment indecent years. The Canadian marijuana sector has registered especially poor performance, law firm Miller Thomson notes, costing investors some $131 billion and significantly damaging investor confidence in the industry.

With no other alternative, players in Canada’s marijuana industry had no choice but to turn to federal funding to support their capital needs. Canada’s government has been happy to oblige, providing around $24 million (C$32.8 million) in funding since the country legalized adult-use marijuana in 2018 to cannabis businesses via business-support programs.

Canada legalized recreational cannabis in October 2018 and allowed the possession of up to 30 grams of domestically produced marijuana, and up to four marijuana plants per household with adults aged 18 and older. In addition, provinces have the option of increasing the minimum age limit for purchasing, possessing and using cannabis. Furthermore, the cannabis legalization measure allowed businesses to produce cannabis under federal licensing while the distribution and sale of recreational cannabis was under the authority of provincial governments.

Thanks to limited investor interest in the sector, the Canadian government has provided millions of dollars to recreational cannabis companies. While most of the federal funding was invested in research-related activities, recreational cannabis companies also used the funding for business expansion.

In 2020, the now-defunct Tantalus Labs received $2.1 million (C$2.9 million) from the federal economic development body Western Economic Diversification Canada to expand a greenhouse. Tantalus Labs received the funding through the Regional Economic Growth’s Innovation Program.

Pbg Biopharma also secured $3.95 million (C$5.4 million) via the innovation program while Ricci Cannabis received $5,398 (C$7,380) through the National Research Council of Canada’s Industrial Research Assistance Program to commercialize a nonalcoholic marijuana beverage.

Cannabis company executives say federal funding is key to carrying out targeted research and development projects but caution against relying on government funding for regular business costs. Canna Stream Solutions CEO and cofounder Usukuma Ekuere says that without grant funding from the Canadian government, companies such as Canna Stream Solutions (which received $365,000 in funding) wouldn’t have gotten as far as they have.

U.S.-based marijuana companies, such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF), also hope to one day operate in an environment in which they can access federal government support in the same way that actors in other industries can obtain funding to grow their businesses.

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420 with CNW — GOP Senators File Measure Seeking Congressional Approval of Marijuana Scheduling Change

Two Republican lawmakers have filed a measure that would force federal agencies to receive Congressional approval before they can reschedule cannabis. The Deferring Executive Authority (DEA) Act is sponsored by Senators Steve Daines and Cynthia Lummis, who provided brief previews of the measure during statements regarding the Secure and Fair Enforcement Regulation (SAFER) Banking Act.

The recently introduced measure would require any federal agency interested in rescheduling cannabis to first submit to Congress its proposal for transferring the Schedule I drug from one classification to another. Congressional lawmakers would have the chance to review the proposal and would be granted 60 session days to block the measure’s enactment via a joint resolution if they opposed it.

The two lawmakers introduced the measure weeks after the U.S. Department of Health & Human Services (HHS) recommended that the DEA reclassify marijuana to a lower schedule due to its proven medical applications and lower abuse potential. Lummis said in a press statement that Congress is in charge of crafting laws for the nation, “not DC bureaucrats.”

The DEA Act would allow Americans to “have the final say” on something as significant as cannabis legalization through their elected leaders.

Cannabis has been a controversial topic since states began legalizing the plant more than 20 years ago. While the cannabis movement enjoyed strong support from the reform movement and younger generations, many conservatives and even Democrats weren’t comfortable with the idea of legalizing a drug they considered dangerous and a gateway to criminal activity.

However, surveys now show that a majority of Americans support at least decriminalizing the plant, something that has become clearer as voters in state after state choose to legalize cannabis for either medical or recreational uses. In addition, President Biden based part of his campaign platform on decriminalizing cannabis and putting a final end to the era of cannabis prohibition. However, the administration has been accused of dragging its feet when it comes to cannabis.

The HHS’s recent recommendation to ease federal marijuana restrictions was part of a 2022 request by the Biden administration to review the nation’s federal marijuana classification. Although cannabis is now legal in dozens of states, federal law still considers it a Schedule I drug with no medical application.

Several lawmakers including Senate Majority Leader Chuck Schumer have pledged to introduce legislation to legalize cannabis at the federal level. However, Lummis said that the Biden administration’s race to reschedule the controversial plant seems to be steeped in political rather than scientific reasons.

Lummis was part of a group of GOP Senate and House lawmakers who sent the DEA a letter asking the administrator to reject the Department of Health and Human Services’ request to reschedule cannabis.

Marijuana companies such as Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) are probably waiting to see the final position that the DEA communicates regarding the cannabis scheduling review process since that change could have major implications on how they conduct their operations.

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