The long-awaited, and recently leaked, news that DEA would begin the process of rescheduling marijuana from Schedule I to Schedule III became a reality yesterday when DEA issued a formal notice of proposed rulemaking. As we have said before, this is a potentially monumental development in the cannabis industry, and we’re just now beginning to understand the ripple effects. 

The notice itself is 92 pages, and we will provide a full recap next week. If you have a couple of hours and a craving for reading dense legal and scientific prose (without the wit and culture you’ve come to expect from Budding Trends), here is a link to the notice. I won’t tell anyone if you wait to read our recap.  

The public will now have approximately 60 days to submit comments on the proposed rule and to request a public hearing. Something tells me there may be a fair amount of feedback. More to come, so strap in.