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By: Scripps News Kansas City

The U.S Drug Enforcement Administration has moved to reclassify cannabis as a less dangerous drug in the eyes the federal government.

Cannabis is classified as a Schedule I drug that is dangerous, along with substances like heroin, LSD, and ecstasy. Cannabis could soon be moved to Schedule III, a classification for drugs with a low potential of dependence or addiction.

This would not make marijuana legal at the federal level. It changes the way marijuana is paid for, how we view it, and what we learn about it.

Missouri will legalize recreational marijuana in February 2023. In its first year, Missouri reported sales of more than $1 billion.

Mike Wilson is the CEO at Franklin’s, located in Kansas City. His company, a licensed marijuana manufacturer, moves a lot green throughout Missouri.

Wilson said, “We are the No. 1 blunt manufacturer in the state.” Wilson stated that “we are the No. 1 blunt manufacturer in the State.”

But it costs the company a great deal of green.

Peter Andreone of Kennyhertz Perry Law explained the federal tax burden that the industry faces due to weed being classified as a Schedule I substance.

Andreone stated, “They are not allowed to deduct normal business expenses.”

For some businesses this can be hundreds of thousands of dollar.

This burden would be eliminated by moving to Schedule III. This also removes decades of stigma.

Wilson said, “I think that really something we do estimate is how much permission it grants everyone who was just sitting on fence before.” “You know, there’s a generation of people who won’t consume marijuana until it is federally legal. And in their minds, this was the beginning towards that.”

It would not only change the way we view marijuana. It would change our knowledge.

Andreone: “One of the biggest things it does is that it opens up opportunities for research.”

Researchers find it very difficult to experiment with Schedule I substances. Andreone says that it’s easier to get approval for working with Schedule III drugs.

Wilson said, “For things such as the gut, the brain, or emotions, you’ll know, all the things users will report, we now have the chance to actually go and put science to them.”

The DEA may take months to make a decision. Even the possibility of marijuana being reclassified is a big deal for the industry.

Andreone said, “I don’t wish to downplay the change in federal drug policies because it is probably one of the biggest changes in the last fifty years.”

This story was originally published at Grant Stephens. Scripps News Kansas City.

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