DETROIT – The federal government is moving to change marijuana’s legal status -- a significant step, but Michigan’s cannabis industry isn’t celebrating yet.
The acting U.S. Attorney General signed an order moving state-licensed medical marijuana from Schedule I to Schedule III under the Controlled Substances Act -- the same tier as some prescription medications.
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Until now, marijuana sat alongside heroin and LSD as a Schedule I drug, classified as highly dangerous with no accepted medical use. The reclassification marks the first federal acknowledgment of marijuana’s potential medical value.
The change could also open doors for researchers. Scientists studying cannabis may face fewer regulatory hurdles and less risk of losing federal funding.
What this means for Michigan
The order, however, stops well short of full federal legalization. Recreational marijuana -- the backbone of Michigan’s roughly $3 billion cannabis market -- is not covered.
Cannabis remains federally illegal. Banks still cannot fully serve the industry, and marijuana products sold outside of licensed medical programs remain classified as Schedule I.
For the average recreational user, nothing really changes.
The impact on Michigan’s market will likely be felt most through improved tax treatment and profitability for medical operators.
A broader rescheduling hearing is scheduled for June, which could expand the scope of federal changes.