President Donald Trump signed an executive order last week to loosen federal restrictions on marijuana. It could have a significant impact on Arizona’s cannabis industry.
Cannabis use has been legal in Arizona since 2010, when voters approved its use for medical purposes. In 2020, voters approved the recreational usage of marijuana.
Trump’s order directs the Department of Justice to move the existing process forward to consider rescheduling marijuana from Schedule I to Schedule III. Schedule I, the most restrictive category under federal law, indicates a high likelihood of abuse and no accepted medical value.
For years, the cannabis industry has lobbied the federal government to change the classification of marijuana, which would make it easier to transport products and well as allow cannabis companies more banking and funding options.
