Numerous sources have suggested that a decision from the US Drug Enforcement Agency (DEA) on cannabis rescheduling could be ‘imminent’, but these claims have been denied by the government spokespeople.
Intense speculation among the US cannabis industry was ignited this week following a LinkedIn post from Adrian Snead.
Mr Snead, Partner at Porter Wright Morris & Arthur LLP and a member of the firm’s Government & Regulatory Affairs and Litigation Practice Groups, was ‘principally responsible for drafting the Marijuana Businesses Access to Banking Act of 2015, SAFE Banking Act of 2017, and several cannabis-related appropriations amendments’.
In his LinkedIn post, he suggested that ‘a highly placed administration source confirmed that there will be a big announcement regarding cannabis this week’.
“I suspect it will be a rescheduling decision from the DEA, but it could also be something more drastic,” he said.
It’s worth noting that after this post went viral, Mr Snead commented on his own post stating: “This is ridiculous. There is no solid news yet. The Administration can do whatever it wants whenever it wants. This is getting out of hand.”
Speaking to Green Market Report days earlier, Adam Goers, co-chair of the Coalition for Cannabis Scheduling Reform also suggested that rescheduling could come sooner rather than later.
He told the publication: “If it were to happen tomorrow or sometime in March, I would not be surprised. If the DEA were to come back with anything other than what the FDA’s recommendation would be, I think there would be a certain instruction to go back and get working on it again. That’s definitely been the attitude we’ve heard out of the administration.”
Further sources speaking anonymously suggested an announcement was ‘imminent’ and could take place in February, and that conversations with senators suggested that rescheduling was a ‘done deal’.
The only official statement from the government came via Marijuana Moment, with a government spokesperson telling the publication that they would ‘wave off’ the rumours.
It comes amid growing suggestions that Biden will need the support of the cannabis community to help him win the coming Presidential election.
A poll conducted in December 2023 suggested that Biden’s approval ratings, particularly among younger voters, would skyrocket should rescheduling take place.
