What Rescheduling Marijuana Means For The Cannabis Industry
Vložit
- čas přidán 1. 05. 2024
- With the DEA set to reclassify marijuana as a less dangerous drug, weed companies will finally get a break from a punitive federal tax rate-and cannabis stocks have already rallied.
Read the full story on Forbes: www.forbes.com/sites/willyako...
Subscribe to FORBES: czcams.com/users/Forbes?s...
Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:
account.forbes.com/membership...
Stay Connected
Forbes newsletters: newsletters.editorial.forbes.com
Forbes on Facebook: forbes
Forbes Video on Twitter: / forbes
Forbes Video on Instagram: / forbes
More From Forbes: forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Just fully legalize it already.
What does that mean to you?
@@ronb3913 As legal as tomatoes. I can buy seeds at the seed store.
Don't let states criminalize it@@ronb3913
Yea I agree.
Like example I want to buy weed at Las Vegas, Nevada and I want to bring home to Texas.
I couldn’t and never will cause I respect on law rules.
If you get busted with weed on airplane, you’ll get ban for life.
I wish for weeds for 50 states to pass already.
I alway respect laws
Forbes is terrible. Weed wasn't outlawed in 1970 it was only added to the scheduling in that year. It's been illegal for much longer and never for any good reason.
The marijuana question on the 4473 to prevent you from buying a gun should be removed.
The 4473 is unconstitutional as outlined in Bruen and Heller
we need to legalize and regulate across the board so the black market can't legally grow in the states where it's legal to then turn around and sell in the states where it's illegal.
Just don’t carry a gun and weed out in public
It sucks for younger potheads who haven't bought a gun yet. For older potheads that already own guns - they just can't get new acquisitions.
The 2nd amendment is supposed to protect our gun rights but nope there are so many laws going against the Constitution it's sick a law ACUALLTY says in michigan I can be arrest if I sell my car on Sunday.
Hemp can save the world. Hempcrete, textiles, wood, food, medicine , oil.
Exactly why they are against hemp
@@andrewmunoz3085 hemp has been federally legalized since 2018 you stoner. You probably don’t remember what year we’re in
@sethrawbass bro, it's all "hemp." Some cannabis is just low in thc in comparison to others phenos. Thats why it has to have less than .3% thc in order to be legal nationwide. If we got true fda/dea/atf legalization, I could see them putting limits on cannabinoid percentage, just like they do alcohol in some states. And its a lot harder to limit thc production in a living plant than it its to halt fermentation or distillation.
And even then theres been massive lawsuits about cbd weed being confiscated until proven it has no thc, even though its on a manifest. The weed ends up molding or drying out and the original product is wasted.
@@sethrawbass I remember your mama.
@@andrewmunoz3085 got em
They could legalize it across the board and just make life so much more mellow. Meanwhile alcohol and tobacco kill people every day.
100%
Yeah but it doesn’t mess you up physiologically like marijuana does
@@sethrawbass yeah... its even worse than weed
@@sethrawbassI deal with several mental illnesses and marijuana has saved my life! I am much happier helps with my anxiety and depression at low doses. I take higher doses to help me sleep .its insane how much meds are prescribed to me and how much much more side effects then marijuana has.. meds cause me more damage than good! So why would you say something idiotic about it messing with people psychologically when it has helped me with everyday life
Amen
Its full decriminalization needs to happen before anyone celebrates anything.
This move is well worth cekebrating.
The War on Drugs was quite a mistake indeed.
It was never a war on drugs it was a war on people
@@user-eb1zv6sr9eit was a war on personal freedom
No it was a GOOD idea 😊😊😊
John Ehrlichman (top white house aid of President Nixon) said the following in an interview according to a publication by CNN (Cable News Network) over 7 years ago . . . . . “You understand what I’m saying? We knew we couldn’t make it illegal to be either against the war or black, but by getting the public to associate the hippies with marijuana and blacks with heroin. And then criminalizing both heavily, we could disrupt those communities,” Ehrlichman said. “We could arrest their leaders. raid their homes, break up their meetings, and vilify them night after night on the evening news. Did we know we were lying about the drugs? Of course we did.”
They made trillions off of it.
So the people who made it a schedule 1 drug should be imprisoned.
I was a lie all along
Schedule 3 is still a fel9ny
@@kennethmccartney6468 yeah it doesnt make a damn difference how they schedule it in that matter, its still a felony at schedule 3 lol i hate these boomers bro
There is no Drug Prohibition Amendment. Everything the DEA did and does is against the law.
@@daMillenialTrucker Boomers? Anslinger in 1937.
There is no Drug Prohibition Amendment. Everything the DEA did and does is against the law.
It should have never been made illegal in the first place!
There is no Drug Prohibition Amendment. Everything the DEA did and does is against the law.
we need to legalize and regulate across the board so the black market can't legally grow in the states where it's legal to then turn around and sell in the states where it's illegal.
Yea I agree.
Government workers are like “Karens”. They think weed are bad. Everything on schedule 1 and alcohol can kill peoples.
Weed have never ever kill once.
They think if you smoke 3 ounces in one night, you’ll die.
Alcohol do not go together with weed.
I smoke weed while sober from alcohol for 4 years and I’m feeling great and healthy.
Alcohol are poison and can kill your white blood cells, even governments knew that.
I don’t understand why it’s illegal in the first place???
Nixon waged the war on marijuana to weaponize law enforcement against his political enemies, hippies that opposed the Vietnam war.
Conservatives aren't big on freedom.
Ding dong your opinion is wrong 😊
It's not ending its ban, just lowering the severity of the ban, majorly misleading. Only thing that would "end" the ban would be entirelly De-scheduling (like coffee, alcohol, or tobacco).
I agree. It needs to be allowed for medical and also spiritual use it’s a wonderful thing.
You can fly with it now
Ending the ban on "medical use" of marijuana.
Now, medical use of marijuana would be legal.
More tax revenue for the government. That's what it means.
That's what it is all about.
It started with normalizing women working, then legalizing homosexuality, etc.
Yea weed sellers can get rich. But investors on weed stocks haven’t made any $$$ since 2020 covid. I held Canopy Growth on stock since 2017, it had been a nightmares and I’m CGC for life.
Thank god that’s weed are moving to schedule 3 and weed stocks are growing up, finally!!! 🎉
@@weso2103 Ohio listed growers & dispensaries as "essential businesses" during covid.
Did you stop drinking alcohol?
It's Food End Prohibition...Grow Your Own
No matter what they do I will never trust our government again unless I see a huge turn around
I never did trust the government and never will. I say, grow your own
They are at war with a plant and they are losing... Badly. Never needed to be prohibited to start with.
But rich people needed it banned so they could profit from the alternatives they provided, like wood pulp paper and paracetamol. It was never about getting high, it was about money.
No, it's a war on our society.
Money to Israel: "Send it NOW!! EMERGENCY SESSION!!"
Legalizing weed: "Well it has to go to this committee, and then a review board, then the courts, then the appeals process..." 😒
Republican obstruction. Vote blue in November....
As a Jewish American we appreciate the aid 😊
And Ukraine
@@xExodusGamingYeah after all Genocide is not free.
Means diddly squat until it's totally removed from the schedule. 😎
Means more cancer patients and money for the healthcare industry.
we need to legalize and regulate across the board so the black market can't legally grow in the states where it's legal to then turn around and sell in the states where it's illegal.
*Diddy
@@peanutbutterdijonnaisesandwich
Wait what lol?!?
That's ignorant to say because schedule 3 makes it medically acceptable.
It’s really a slap in the face. It’s like they’re pointing and laughing. It needs to be completely de-scheduled. Period.
Imagine, just imagine how good our lives would be if we had cannabis and mushrooms legal. We would never need to use alcohol again as a society.
The time is coming. Taking an almighty long time, but it's coming.
Yeah. Marijuana is legal in my state. Recreational and Medical.Its still kind of new to people so even though we have stores that they can go to and buy the best some people are still buying junk on the streets and don't even seem to know that it is legal here.
@@chriswheeler6092 that is wild. I hope people inform themselves. I honestly see alcohol as this form of silencing peoples awareness.
De Schedule .
Next campaign!
I was shocked at the 80% tax rate! I had no idea the government makes that much money in taxes on that industry!!!
Yeah taxes are high. My local dispensary just puts the final price on the bag including tax so there isn't shock at the total once it has been rang up
@@foxtrotdeltausn4757 It is as if the reason why is to demonize and then profit off of that.
Yup. Its insane. The average consumer pays a good amount, but the business have to pay A LOT more. Its part of the reason why we never got pay raises.
Well duh, marijuana always been less dangerous herb and shouldn't have been illegal at all. 😂 God Government is extra.
Government are “Karens” 😂
saying government is "extra" in the comments section is absolutely useless. if you want to help and you are of legal age, VOTE for people who think like you.
@@liamjohnson2474 I don't need your approval.
@@liamjohnson2474telling someone that’s saying that the government is “extra” does absolutely nothing as well. Sooooo……😂🤣😂the never ending CZcams comment argument. I know you are but what am I? It is funny I will admit.
@@liamjohnson2474how nice it must be to be so naive to believe voting actually does anything.
It was a requirement to grow 40 acres of the stuff when England granted privileges for new settlers from England to infiltrate the previous occupation of the Natives already occupying the land.
The Founding Fathers grew it. Lincoln smoked it.
Sure was,you had to grow Hemp,it is a plant that has so many useful benefits! It’s been around d for so many years. At one time it was legal in America. But it was only for the rich!
Actually Indians was the first people of before USA 🇺🇸 showed up smoked weed.
George Washington was the first president to grown weeds in White House’s backyard
@@weso2103cannabis isn't native to the Americas
Medical marijuana, when Schedule One states there is no medical use.
we need to legalize and regulate across the board so the black market can't legally grow in the states where it's legal to then turn around and sell in the states where it's illegal.
There is a pharmaceutical equivalent to almost every schedule 1 drug I can think of
There is no medical use, if there was you can bet the pharmaceutical companies would be all over it.
I mean there's not much use really. It has similar use as say ibuprofen for pain. If it didn't get yall baked, you wouldn't use it.
@@occiferfigpucker4840 ibuprofen? As in the massively popular NSAID that's one of the most purchased OTC drugs, ibuprofen?
people will always grow and sell weed. if I was the last man on the planet I'd start growing weed out of human-cultural reverence, if nothing else...
The DEA had 8 months to reschedule Cannabis from a schedule one to a schedule three, it’s ridiculous they are taking so long to get this done.
It also means those with govt jobs, or on medicare , medicaid, and other govt assistance cant be denied for using pot.
Doubt it. You’ll still have to surrender bodily fluids
I’ll tell you what it means , if you can’t beat it tax it 🎉😂
Nope! It means that these huge donors and lobbying corporations like Monsanto, Pfizer and Black Rock all want in now and are ready to get rolling
It should be equal to or less than alcohol.
Nowhere close to poison called alcohol!!!
Alcohol are more harmful and deadly than weed
Votes, votes, votes....nothing more, nothing less. All he trying to do.
what it means: nothing, it does nothing.
Start by saying how significant and historic this is and end saying it really means nothing. LOL, that was a wild ride! This is long overdue and a crucial first step that has been attempted many times unsuccessfully. A very big deal for the cannabis community.
It's almost inconceivable that pot is still illegal at any level. It's so stupid it makes my brain hurt.
John Ehrlichman (top white house aid of President Nixon) said the following in an interview according to a publication by CNN (Cable News Network) many years ago . . . . . “You understand what I’m saying? We knew we couldn’t make it illegal to be either against the war or black, but by getting the public to associate the hippies with marijuana and blacks with heroin. And then criminalizing both heavily, we could disrupt those communities,” Ehrlichman said. “We could arrest their leaders. raid their homes, break up their meetings, and vilify them night after night on the evening news. Did we know we were lying about the drugs? Of course we did.”
So wat about cdl holders will they get to smoke?
You have not been to Kansas. I guarantee weed will remain fully illegal in Kansas for at least the next five years. No medical no nothing. Meanwhile watch Missouri get tax money from Kansas and make a killing.
@@Billy_Wildcatbased kansas
Based laws
Should never be “regulated”
Alcohol needs to be regulated and moved to schedule 1
As I lay here with liver cancer & Alcoholic s erosis. I agree 5:21
It means ADT ..About Damn Time!!
They made weed illegal in 1920 and passed couple years later.
They made it illegal again in 1970. Yea nobody care until president Reagan showed up
It needs to be 100% legalized and taken off the controlled substance list altogether this isn’t enough
Has anyone noticed the comments in the last few months to a year are more aligned than ever. We want to be represented… and no one feels as if we are.
Schedule three is the same schedule as tobacco, which we cannot grow in our backyards Just more government greed
If you grow illegal in your backyard or in ranch.
Government will take away of what you have
Heroin? its all fent now lmao
Its another step in the right direction....... Although I fear the government having its hand in it....we all know what happens when the government gets involved
De-schedule it.
When CA legalized, opiate addiction down 40%
80% tax?! That’s insane!
It's still not legal though.
The maximum scheduling it should receive is the same as tobacco and alcohol
Thank u for sharing
I would love to see a debate in the U.S. congress between cannabis growers and alcohol producers on the safety and addictiveness of their products. Let's see them tout statistics to the public and see how the two substances compare.
Big Tobacco already has a federal lic to produce, transport, and sell scheduling class lll
Lung 🫁 and heart ❤️ diseases from cigarettes are killing millions of peoples!!
Weed have never kill anyone (not one people)
Doctor told me to quit smoking cigarettes. My tubes to my heart are clogged and lungs was dirty, my heartbeats too slow. Doctor said that I’ll get heart attack. I’m going to die 😢 that was 8 months ago.
I visited my doctor last month, doctor said wow, amazed at me.
I told him that’s I had quit smoking cigarettes and jogging (slowly at first or I’ll have heart attack easily). Heart beats back to normal, tubes are cleared too. I also smoke weed vape.
Doctor was like wow. Come on, peoples “weed isn’t that’s bad than cigarettes”
Damn cigarettes you almost kill me “f*** you, cigarettes and alcohol. Sobers from alcohol for 4 years too.
I love ❤️ weeds
Legalize please Tennessee will never legalize it!
Even though we have a booming THCA market in TN, and we're showing our reps that there's HUGE tax incentives to doing so, but nope... It's gotta be something they can use against the populace, just like at the Federal level
Thanks
'We'd like to congratulate drugs, for winning the war on drugs.'
Drugs never gave up..
alcohol has been legal for a long long time and it’s one of the most damaging substances to the human body
It was John Ehrlichman (top white house aid of President Nixon) that said the following in an interview - and published by CNN (Cable News Network) over 7 years ago . . . . . “You understand what I’m saying? We knew we couldn’t make it illegal to be either against the war or black, but by getting the public to associate the hippies with marijuana and blacks with heroin. And then criminalizing both heavily, we could disrupt those communities,” Ehrlichman said. “We could arrest their leaders. raid their homes, break up their meetings, and vilify them night after night on the evening news. Did we know we were lying about the drugs? Of course we did.”
Well at least it’s a step in the right direction!! Thank you for sharing
Thats a good start!
US and Cdn cannabis stocks will 🚀
Even Germany, Australia and whole worlds too 🚀
I’m still holding on CGC since 2017, man it had been rough. CGC 4 life!!!
I say that’s great news for the industry
Happy 420 💨
Finally cigarette companies are weak enough so couldn’t block marijuana reform anymore.
It's amazing people still care about this
My question is will the DEA lose funding if pot is downgraded
I wish people would stop complaining, this is a huge step forward!
What does this mean for TENN & KENTUCKY?
If you don’t LEGALIZE IT THEN THIS DOESN’t mean anything!
It would be legalized for "medical use".
I assume that a doctor’s prescription would be required if it is reclassified as Schedule 3. Legalization would simplify the business and taxation of marijuana.
this policy move is so dumb, it's perhaps more ridiculous than doing nothing
legalize it
Wont do anything to help boost the cannabis industry mutual funds I invested in. LEGALIZE IT, DON'T CRITICIZE IT.
Imagine a world where a PLANT is ILLEGAL.
Freedom?
(face palm)
A friend with weed is a friend indeed 😃Greetings from Buzzville Colorado
You all lucky sob!!! Lol
From illegal Texas 😞 😢
Under Schedule 1, medical research is almost impossible. Under Schedule 3, medical research is allowed. It will take years of research, but odds are there are many compounds that could be useful for medical applications.
So alcohol and tobacco companies can be listed on the stock exchange but not cannabis producers? Make that make sense.
Just to clarify, the DEA does not have the federal authority to reschedule any drug. So no the DEA will not be rescheduling marijuana. Only Congress has the authority to reschedule drugs, Congress and Congress alone. DEA stands for drug ENFORCEMENT agency, they have failed there sole purpose of existing.
It was outlawed in 1937, it was made schedule 1 in 1970.
vote we take the government out of the week business
What it needs to mean is a complete revision of prison policy and the release of several individuals. Alabama is currently in the process of building multiple prisons when in fact, they could probably empty half of the prison population as it sits. Most arrest may in Alabama or for simple possession. That is now the norm in many states. We really have to fix the cannabis policies. They affect everybody in different ways. It is unbelievable that somebody can go to prison in a state for mandatory sentencing and literally beyond a cooking show in another state. This is beyond Discrimination and beyond state versus federal conversations. It is a question of humanity and inequality.
Easy answer.
What rescheduling marijuana means to the cannabis industry:
It means pharmaceutical companies are now cleared to produce and sell product nationally, before any other small or private businesses have the opportunity to go national.
The fact that guy says DEA doing this doesn't actually legalize weed doesn't scare me when Washington been growing weed for over a decade...
probably paid by a hedge fund like kenneth cordele griffin in example that's illegally shorted stocks
Only city in Washington DC can buy weed and grow weed but you can’t buy weed in state of it thought.
Yep Washington DC doesn’t care about other peoples
Free Mary Jane
Legalization across the Nation...
Mexico and Canada can buy weeds.
Hawaii and Alaska can buy weed which are part of 27 states that you can buy at recreational weed stores.
I wish all of 50 states pass already so we don’t get confused is this state legalized or? It suck
Decriminalize, NOT legalize!!!
It’s about time! They need to just legalize it totally tho
Oh yay. It's designed to help businesses instead of the consumer. Just legalize it like alcohol and tobacco.
Shouldn't Congress be voting on this?
This is seemingly good on the surface. There is an entire different set of laws when something comes under the umbrella of the FDA. This is going to screw all of the people who are opening recreational dispo's and maybe even the medical places. I would bet money on it. We will be extremely lucky to be able to still grow it ourselves. This was a masterful move on their marijuana eradication efforts. They thought this through.
How about criminal reformation?
Automatic expungements for simple misdemeanors and felonies.
So schedule 3 means MORE regulations? 😂😂😂😂😂
My motto: 'Stay statutorily correct' when in public. Mind your vehicles, sensitive items, etc. The basics. 🇺🇸
Damn even on Forbes list
Re industrialize cannabis and create more jobs and a healthier thriving environment. Plants help the earth.
Nothing. Zero. Ziltch. Nada.
good move!
So it's ok as long as the government can make money on it .
Need less government period.
Can someone still be fired for smoking 2 weeks ago, while off the clock?
They can use banks for money
So the ones already making millions on them will make more god bless America
Nature shouldnt be illegal
More black market grows . Taxes ,we don't pay no stinking taxes.
Les tax means lower costs,right?
Just make it cheaper, all I care about. It’s not fair. I shouldn’t be paying for medicine 😁
it will end up being "Cheaper" if its no longer considered a felony to carry/produce at the federal level
You mean it should be free??
@@ronb3913 👀🤯
@@ronb3913
Should be able to grow your own.
Hmm well when I bought weed at weed store, pay more get less weed.
When I bought weed on street called “black market” you pay less get more weed.
Amazon will have access to millions more potential delivery drivers, as they only test for schedule 1 drugs.
So instead a misdemeanor, now if you are caught with pot, it's felony possession without a valid prescription.
Yeah they get rich off the veterans and the retirees 😎🦁
Means nothing except less people with criminal records and jail. If you want it currently you can find it easily.
10% FOR THE BIG GUY
The more we grow. The prices go low.