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Trump Reclassifies Cannabis to Schedule III in Historic Policy Shift

President Trump reclassifies cannabis from Schedule I to Schedule III, recognizing medical uses. Tennessee lawmakers consider reforms as federal policy shifts, impacting companies like Tilray.

This federal reclassification represents a watershed moment for cannabis policy with far-reaching implications. For patients, it validates medical cannabis use and could accelerate research into therapeutic applications. For businesses, it may ease banking restrictions, reduce tax burdens under IRS code 280E, and stimulate investment in the growing legal cannabis market. For states, it provides federal validation for medical marijuana programs and could encourage more states to adopt similar policies. This shift reflects changing public attitudes and scientific understanding about cannabis, potentially paving the way for further reforms including possible federal legalization.