Cannabis Industry Leaders React To DEA's Historic Move To Reschedule Cannabis

In a landmark decision, the U.S. Drug Enforcement Administration (DEA) is reportedly moving cannabis from Schedule I to Schedule III under the Controlled Substances Act, sparking varied reactions across the industry.

MariMed’s MRMD Enthusiastic Endorsement Bob Fireman, CEO of MariMed, expressed his excitement about the decision: "The impending announcement of the DEA's decision to recategorize cannabis…is historic. The positive impact this will have cannot be overstated. Our industry, the millions of consumers and patients we serve, and the individuals and communities that have been ravaged by the War on Drugs, all will see positive benefits.”

Vicente LLP Highlights Medical Recognition Shawn Hauser, Partner at Vicente LLP, emphasized the significance of the FDA’s acknowledgment: "FDA's acknowledgment of the medical efficacy of cannabis and relatively low potential for abuse is one of the most significant shifts in drug policy in this century.”

Illicit Gardens Cheers for Business Impact David Craig, CMO of Illicit Gardens, remarked on the operational changes: "Today's historic rescheduling proves what cannabis enthusiasts have always known—cannabis is a legitimate medicine with proven uses.”

Somai Pharmaceuticals on Global Impact Mike Sassano, CEO of Somai Pharmaceuticals, highlighted the broader implications: “Safe for a population and medical benefits from the HHS will ignite a global MEDICAL cannabis boom that will sweep the globe!”

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Dip Devices Calls for Further Action. Michael Bologna, CEO of Dip Devices, stressed the need for additional reforms: “This shift is a moral imperative… However, it must be followed by a full descheduling with accompanying prisoner release, and expungement plans to more equitably address the issues of cannabis restriction.”

Symple Seeds on Industry Practices Sarah Carter, communications director at Symple Seeds, discussed the industry’s future: “The reclassification of cannabis from Schedule I to Schedule III reflects a growing recognition of the nuanced nature of cannabis and its potential medical applications.”

Indoor Harvest Corp Celebrates Multiple Wins Leslie Bocskor, CEO of Indoor Harvest Corp INQD, captured the sentiment of victory and the road ahead: "It is a massive win for the United States of America… That being said, now the real work begins. How do we rectify Schedule 3 federally with state adult use regulation?”