Transformative Shifts in Cannabis Policy: Federal Rescheduling, Banking Reforms, and State-Level Legalization

Recent changes in cannabis policy signal significant shifts at both the federal and state levels, impacting the cannabis and hemp industries. The Biden administration's move to reclassify cannabis as a Schedule III substance, progress with the SAFER Banking Act, and various state-level legalization efforts are central to these developments. Additionally, the hemp industry is poised for change with the upcoming 2024 Farm Bill.