Feds are going to reschedule cannabis! What does that mean? How to turn out the most Dank possible in 4 months.

US poised to ease restrictions on marijuana in historic shift, but it’ll remain controlled substance

At least we made it to 3rd base?!

Critics point out that as a Schedule III drug, marijuana would remain regulated by the DEA. That means the roughly 15,000 cannabis dispensaries in the U.S. would have to register with the DEA like regular pharmacies and fulfill strict reporting requirements, something that they are loath to do and that the DEA is ill equipped to handle.

DEA, FDA And Other Agencies To Discuss Marijuana’s Potential To Treat Pain At Upcoming Federal Research Meeting

WTF DOES THIS MEAN: Other panel topics include the safety and efficacy of marijuana in animal models and clinical studies, various research initiatives and opportunities through NIH and NCCIH as well as a variety of five-minute “data blitz” presentations from researchers around the country.

HORRIBLE FUNDING: National Center for Complementary and Integrative Health will provide $1 million in total costs during fiscal year 2025 to fund the center (Resource Center For Cannabis and Cannabinoid Research) , while the National Institute on Drug Abuse and National Institute on Aging  will each contribute $100,000 in co-funding, and National Cancer Institute will provide $200,000. Separately, National Cancer Institute recently awarded researchers $3.2 million to study the effects of using cannabis while receiving immunotherapy for cancer treatment.

What is NCI’s current fiscal year 2024 (FY24) budget?

The Further Consolidated Appropriations Act, 2024 (H.R.2882), provides NCI a total appropriation of $7.22 billion,

Grow Talk:

Last grow for a minute  Posted by Richard Horton

FALL OF PROHIBITION/ MARKET REPORTS:

“A big deal”: What the feds’ move to reclassify marijuana means for Colorado cannabis

The main direct effect of rescheduling is relief from Section 280E of the federal tax code. Federal tax code, in section 280E, dictates that companies working with Schedule I or Schedule II substances are prohibited from deducting many standard business expenses from taxable gross income.

Moving marijuana to Schedule III would relieve local businesses of that tax burden and enable them to write off expenses such as electricity, payroll and insurance. For Wanda James, co-founder and CEO of Simply Pure  Dispensary in Denver, that could mean a savings of as much as a 15% to 20%.