New York’s top cannabis officials are advocating for federal regulators to ease restrictions on marijuana, potentially transforming its medical use and financial benefits. The Office of Cannabis Management submitted testimony urging the DEA and DOJ to reclassify marijuana from a Schedule I to a Schedule III substance.
Reclassifying marijuana would acknowledge its accepted medical uses and reduce its perceived potential for abuse. This move aligns with public sentiment, as 88 percent of Americans support cannabis legalization, according to Felicia A. B. Reid, interim director of the Office of Cannabis Management. The change would also address banking barriers and continuity of care for medical cannabis patients.
Despite New York’s legalization efforts, the state has faced challenges in rolling out its retail marijuana industry, including combating illicit shops and overcoming bureaucratic hurdles. Governor Kathy Hochul has been critical of the slow progress and recently restructured the cannabis agency to improve the implementation process.
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