'No Turning Back Now': Cannabis Rescheduling Gains Momentum, Expert Offers Timeline

The ongoing debate over cannabis rescheduling continues to stir discussions within the industry, with many wondering what it will mean for the future of cannabis regulation.

Recent actions by federal agencies have prompted hope that rescheduling may occur within the next year, but the path remains unclear. According to Gary Santo, the CEO of Rx Green Technologies, the process is far from simple.

Untangling the Road to Cannabis Rescheduling

Santo, who will be speaking at the upcoming Benzinga Cannabis Capital Conference, discussed the complexity of rescheduling during a recent interview. He explained that while the rescheduling process has seen movement, it is not just a matter of waiting for a decision. "There's more than just hope behind this rescheduling process. We've already seen significant movement—40,000 public comments, requests for hearings—so it's no longer just talk," he said.

Despite this progress, Santo urged caution, stating that the rescheduling timeline could extend longer than many in the industry expect. "In 12 months, I don't think it's unrealistic to say within 12 months, I don't think they can just keep rolling this along," he said, acknowledging that federal agencies must address several complex factors before making any final decision.

The Difference Between Rescheduling and Descheduling

Santo also weighed in on the critical distinction between rescheduling and descheduling cannabis. Both options are being discussed, but each has implications for the industry. "You could deschedule it; you can reschedule it. And there are so many moving parts that need to be addressed throughout different parts of the government and also with working with the states," he explained. These moving parts include various regulatory hurdles and coordination across multiple federal and state agencies, complicating the process.

He also cautioned that the simultaneous efforts to push for different outcomes—rescheduling, descheduling, or other reforms—could create confusion. "Sometimes I wonder if having all these different initiatives—the shotgun approach—is more harmful than helpful. Everyone's chasing different outcomes, and that might slow down actual progress," Santo observed, suggesting that a more focused approach might yield quicker results.

What the Industry Can Expect

As the cannabis industry awaits further developments, many operators are left wondering how rescheduling—or descheduling—will ultimately affect them. He stressed that while progress is being made, the actual impact of these regulatory changes could take years to materialize.

"Rescheduling has already set things in motion. There's no turning back now; a conclusion has to be reached," he said, adding that the industry should prepare for a potentially lengthy process.

Santo's analysis highlights the importance of understanding the full scope of regulatory changes rather than expecting immediate results. As the industry evolves, operators and investors must prepare for the challenges and opportunities that rescheduling may bring.

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Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly from top executives, investors, advocates, and policymakers at the 19th Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.

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