It is about time! In what can only be described as a historical moment for the medical cannabis sector, President Trump signed an executive order on 18th December 2024, reclassifying marijuana from Schedule I to Schedule III under the Controlled Substances Act. This marks the most significant shift in American federal drug policy in over half a century, and the ripples are already being felt across the global cannabis industry.
For more than five decades, cannabis has sat in the most restrictive drug category alongside heroin and LSD, classified as having no accepted medical use whatsoever. The new Schedule III designation places it with substances like ketamine and codeine-based medications, finally acknowledging its moderate to low potential for dependence and legitimate therapeutic applications.
Speaking at the signing ceremony, President Trump remarked: “I think I probably have received more phone calls on this… I don’t think I received any calls on the other side of it.” His comments reflect a dramatic shift in public sentiment, with recent Gallup polling showing 64% of Americans now support legalisation. It’s clear the political winds have changed considerably.
How Marijuana Rescheduling Changes Medical Research
The rescheduling creates several immediate impacts for the medical cannabis sector, though perhaps not quite as many as some might hope.
Research opportunities expand significantly. For years, scientists have faced enormous regulatory hurdles when attempting to study marijuana’s therapeutic potential. Now, the FDA can conduct proper comprehensive studies on applications for chronic pain, PTSD, epilepsy, and chemotherapy-related nausea. Dr. Nora Volkow, Director of the National Institute on Drug Abuse, emphasised this point: “Many Americans are using the herb for medical purposes, and yet, for the most part, the evidence is not there in terms of not just what are the benefits, but also how to optimally give it to those individuals.”
There’s also substantial tax relief on the horizon for licensed businesses. Under IRS code 280E, companies dealing with Schedule I substances cannot claim standard business tax deductions. The marijuana rescheduling removes this financial burden, potentially reducing effective tax rates by 40 to 70 percent for state-licensed dispensaries operating medical programmes. That’s genuinely transformative for an industry that’s been operating with one hand tied behind its back.
What Marijuana Legalisation Doesn’t Include
It’s crucial to understand what this order doesn’t accomplish, and there’s quite a bit that remains unchanged.
The marijuana rescheduling does not legalise cannabis for recreational use at the federal level. Possession, sale, or distribution outside state-licensed medical programmes remains illegal under federal law. So whilst this is progress, it’s not the wholesale legalisation some advocates have been calling for.
The order doesn’t address criminal justice reform either. Thousands of Americans, disproportionately from Black and Latino communities, remain incarcerated for cannabis-related offences that many states no longer even prosecute. There’s no automatic expungement of records or clemency provisions included.
Marijuana Policy
With American federal policy finally acknowledging marijuana’s medical legitimacy after decades of prohibition, the international dialogue about research findings, regulatory frameworks, and patient access models becomes more critical than ever. Medicon 2026’s exhibitor opportunities provide businesses with the chance to engage directly with this evolving landscape.
British policymakers, medical professionals, and industry stakeholders will undoubtedly be watching closely as the American marijuana rescheduling process unfolds. The timing creates a unique opportunity for Medicon 2026 to serve as a platform for transatlantic exchange of ideas, best practices, and research findings.
What’s Next for Marijuana Regulations
The executive order directs Attorney General Pam Bondi to expedite and complete the formal rescheduling process. Legal experts estimate this could be finalised within 60 to 90 days, making it one of the fastest major drug policy changes in modern American history.
The medical cannabis industry has responded with cautious optimism. Whilst the change doesn’t go as far as many advocates would like, it represents tangible progress after decades of federal intransigence. Investment is likely to flow more freely, research can finally proceed without bureaucratic roadblocks, and patients may gain access to better-studied, more standardised treatments.
Join the Conversation at Medicon 2026
Want to dive deeper into how marijuana policy changes will shape the future of medical cannabis in the UK and beyond? Medicon 2026 brings together industry leaders, medical professionals, researchers, and advocates for two days of groundbreaking discussions, exhibitions, and networking opportunities.
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