The U.S. Drug Enforcement Administration’s (DEA) recent recommendation to reschedule marijuana (cannabis) from Schedule I of the Controlled Substances Act (CSA) to Schedule III of the CSA has received praise and criticism on both sides of the aisle and among those in between. The strong likelihood that the DEA’s recommendation will become reality prompts us to consider what is down the pike as a result of this rescheduling, especially for state-legal cannabis businesses. Of particular interest will be the…
Continue Reading Economic Opportunities For Cannabis Businesses May Expand Following
Rescheduling

The U.S. Drug Enforcement Administration has announced its intention to reschedule cannabis from a Schedule I to a Schedule III drug, marking a significant shift in federal drug policy. This move, prompted by the Biden Administration’s review and supported by various governmental agencies, could reshape how cannabis is treated in the eyes of the law, potentially easing business operations, expanding access to traditional banking services, and fostering medical research.
Continue Reading A Major Step Towards Reform: The DEA Recommends Rescheduling Cannabis

In October of 2022, the Biden Administration started an official cannabis policy review process, which began with granting pardons to all people convicted of simple cannabis possession under federal law. At the time, this was considered to be the most extensive White House action taken to date on federal drug policy in quite some time. Over the last year, the process shifted to the review of cannabis policy by certain critical governmental agencies, including the Food & Drug Administration…
Continue Reading Historic Cannabis Rescheduling on the Horizon? It's Up to the DEA Now

Earlier this summer, the Food & Drug Administration (FDA) issued draft guidance for those researching the use of psychedelics to treat certain serious medical conditions including major depressive disorder, PTSD, and substance use disorders. This is the very first time the FDA has provided guidance to the ever growing list of entities conducting research on these controlled substances for the purpose of setting up clinical trials. 
Continue Reading FDA Issues First Ever Guidance for Research of Psychedelics

Earlier this month, the U.S. Senate Banking Committee met to discuss the SAFE Banking Act, a critical piece of proposed legislation that would make it easier for the cannabis industry to secure and utilize much needed banking services. Overall, the fact that the Act has warranted extensive discussion by legislators is promising, but passage of the Act as currently styled still seems relatively far off. The meeting, which was entitled “Examining Cannabis Banking Challenges of Small Businesses and Workers,”…
Continue Reading Movement on the SAFE Banking Act? The Senate is Talking the Talk, but Not
Ready to Walk the Walk

Many of us following the ever expanding cannabis industry in the United States have seen more and more CBD-infused food and drink products hitting the market and becoming readily available for consumers.
Continue Reading The Federal Government & CBD – What the FDA is Happening?

Last week, La Shawn K. Ford, a Democratic member of the Illinois House of Representatives, introduced the Compassionate Use and Research of Entheogens Act, or CURE Act, as the very first bill during the opening session of Illinois 103rd General Assembly. Entheogen is a term used to describe a psychoactive, hallucinogenic substance or preparation (such as psilocybin, the active component in so called “magic mushrooms”) especially when derived from plants or fungi and used in religious, spiritual, or ritualistic contexts.
Continue Reading Illinois Lawmaker Introduces Legislation to Legalize Psychedelic Therapy
Programs

Last month, the Illinois Department of Finance and Professional Regulation (IDFPR), announced that it would begin accepting applications for 55 new adult-use cannabis retail licenses after January 30, 2023. The IDFPR, the governmental entity tasked with regulating the recreational cannabis dispensaries in Illinois, has issued guidelines for what is being called the Social Equity Criterial Lottery. In order to be issued a conditional license pursuant to this application and lottery process, an applicant must be able to establish that…
Continue Reading Illinois Set to Roll out New Cannabis Retail License Applications and
Lottery in Early 2023