Sara Gullickson Weighs In

The DEA, which bears ultimate responsibility for classification under the Controlled Substances Act, did not confirm a proposal to move cannabis from highly restrictive Schedule I to Schedule III until January 2024. Then another five months passed before the DEA posted a call for public comments. Shares of publicly traded cannabis companies felt investors’ dissatisfaction following the Drug Enforcement Administration’s (DEA) announcement it will hold a public hearing about rescheduling December 2. Nevertheless, it’s unclear whether the DEA’s delay places the fate of rescheduling in the hands of the next U.S. president. Democratic nominee Harris publicly supports rescheduling and other reform efforts. Republican nominee Trump has not committed to supporting cannabis reform, although according to The Cannabis Business Advisors Chief Executive Officer Sara Gullickson, “inside sources have indicated” the former president may be amenable to maintaining the state-by-state status quo.

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