Bloomberg Law
Marijuana Reclassified & SCOTUS Upcoming Decisions
May 7, 2024
David Pozen, a Columbia Law School professor, discusses potential reclassification of marijuana, while Kimberly Strawbridge Robinson explores upcoming Supreme Court decisions. Topics include federal efforts on marijuana reform, risks of heavy cannabis use, shadow docket's impact, and upcoming SCOTUS rulings on abortion, Second Amendment rights, and Trump's trial.
36:07
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Quick takeaways
- Shift towards federal marijuana reclassification for medical use may benefit businesses with tax deductions.
- President Biden's gradual marijuana reform approach reflects strategic adaptation to changing public opinions.
Deep dives
Marijuana Rescheduling and Legalization Impact
Marijuana legalization is a hotly debated topic with impacts at various levels. The U.S. is experiencing a shift in marijuana policy, with moves from state to federal regulations being considered. Despite the DEA recommending rescheduling marijuana to allow for medical use, federal legality still faces hurdles due to FDA approval requirements. This change may offer benefits for businesses in terms of tax deductions and symbolize progress towards potential federal legalization.
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