What’s Next for Schedule III Marijuana

06/17/24 • 38 min

In October 2022, President Biden asked the Department of Health and Human Services (HHS) and the U.S. Attorney General to review how marijuana is scheduled under federal law. In August 2023, the HHS marijuana recommendation went to the Drug Enforcement Administration (DEA) for its consideration. On May 16, 2024, the DEA published its 92-page notice of proposed rulemaking (NPRM) to move marijuana from Schedule I on the CSA to Schedule III. We are currently in a 60-day public comment period that is part of the DEA’s rescheduling process and NPRM. Rulemaking is a complicated and drawn-out process with many twists, turns, and administrative nuances. In this episode, John Hudak, the Director of the Maine Office of Cannabis Policy and former Deputy Director of the Center for Effective Public Management (who was also a Senior Fellow in Governance Studies at the Brookings Institution where he led Brookings’ research into cannabis policy, regulation, implementation, and politics for over 10 years), takes the audience through this historic rulemaking effort by the DEA and what to expect next from federal and state governments. John covers timelines, rulemaking technicalities, the politics behind the NPRM, and the possibility of a bifurcated system for marijuana between pharmaceuticals and state-licensed markets.

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How Florida Will Change the National Cannabis Landscape Through Amendment 3

This fall, Floridians will vote on Amendment 3, which would legalize cannabis for adults 21 years old and older in the Sunshine State. Existing medical marijuana treatment centers in the state will get first (and maybe the only) dibs to sell adult-use cannabis. It’s been a battle for Florida to even get adult use cannabis on the ballot, and the threshold for adoption of this constitutional amendment sits at a whopping 60% of voter support.

In this episode, Husch Blackwell's Hilary Bricken and Hirsh Jain, founder of Ananda Strategy, a leading cannabis consultancy serving cannabis brands, retailers, technology businesses, and venture capital funds in the United States, Canada, and Western Europe, take us through the importance and significance of Amendment 3—not just for Florida, but for the nation when it comes to meaningful cannabis reform and progress. While this episode was recorded prior to Amendment 3’s clearance for the ballot boxes by state government, Hirsh shares his invaluable insights on just why and how Florida will become the crown jewel of cannabis, surpassing even California and New York, if voters vote yes on Amendment 3.

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Inside a Top MSO with Jushi’s EVP of Legal Affairs Matt Leeth

There are now dozens of multistate operators (MSOs) in the U.S. cannabis industry. Since 2010, the concept of MSOs has carried many connotations, good and bad. At times, MSOs are considered the ultimate form of “Big Marijuana,” and at other times, they’re considered indispensable to the democratic experiment that is state-by-state legalization. Rarely do we get to peek into the daily inner workings of these MSOs, even though the overwhelming majority are publicly traded. In this episode, Husch Blackwell’s Hilary Bricken and Jushi’s Executive Vice President of Legal Affairs Matt Leeth discuss Jushi’s day-to-day happenings as well as long-term vision. Currently, Jushi operates 38 retail facilities and maintains roughly 1,200 employees throughout the U.S., while offering numerous cannabis brands to both patients and adult-use consumers. During this episode, Matt dishes on the challenges of scaling, regulatory differences from state to state, keeping investors happy, and what Schedule III will mean for Jushi and other MSOs.