Trump's Cannabis Rescheduling
President Trump has signed an executive order today directing the Attorney General to complete the process of moving cannabis from Schedule I to Schedule III. This doesn’t immediately reschedule cannabis—the administrative process still must be finalized. Here's what this means for cannabis in Maine.
The Good News
Section 280E tax relief. This is real and significant. Cannabis businesses will finally take normal tax deductions like any other business. That’s huge.
Research opens up. FDA and universities can more easily study cannabis, which could validate medical uses and support the industry long-term.
What Does NOT Change
State-licensed cannabis will remain federally illegal. This is critical. Under Schedule III, only FDA-approved cannabis products will be federally legal. State-licensed stores? Still selling federally illegal products. State-licensed cultivation facilities? Still growing federal illegal cannabis.
You still cannot transport or sell across state lines. Interstate commerce remains blocked.
Banking likely stays the same. Cannabis will still be cash-only because cannabis businesses are still selling federally illegal products under the Bank Secrecy Act.
The Complicated Part
Big Pharma is invited to the party. Schedule III makes it easier for pharmaceutical companies to develop FDA-approved cannabis medications. These could eventually compete with state-licensed businesses through insurance coverage and CVS.
But this isn't immediate. FDA approval takes 5-10+ years and hundreds of millions of dollars.
Federal enforcement protections remain. The Rohrabacher-Blumenauer Amendment (in federal spending bills since 2014) prohibits the Justice Department from spending money to interfere with state medical cannabis programs. As long as Congress keeps including this in spending bills, state-licensed medical cannabis business will continue to have practical protection from federal prosecution.
Will state programs survive long-term? Honestly, unclear. The feds have tolerated state cannabis for decades despite Schedule I. Schedule III might legitimize state programs, or it might eventually favor pharmaceutical-only models. But that's years away, not months.
Bottom Line
The 280E relief is significant and immediate. But cannabis remains in federal legal limbo.