Today, Explained Weed did it, Joe
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May 21, 2024 
Natalie Fertig, a cannabis policy reporter at Politico, dives into the recent federal move to reclassify marijuana. She explores the nuances of cannabis terminology and the stark differences between state and federal laws. Fertig highlights the implications of President Biden's announcement, including issues surrounding black markets and high-potency products. She also discusses Colorado's new legislation to protect children and the challenges faced by minority entrepreneurs in the cannabis space, emphasizing the need for inclusivity in this evolving industry.
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Cannabis Terminology
- Cannabis is legally defined as hemp (below 0.3% THC) and marijuana (above 0.3% THC).
- Federally, hemp is legal, while marijuana remains illegal under the Controlled Substances Act.
Impact of Rescheduling
- Biden's rescheduling of marijuana is significant as the biggest federal drug policy change in 50 years.
- However, it won't change much for individuals; it won't release people from prison or legalize it in states where it's currently illegal.
State-Level Marijuana Regulations
- Utah's medical marijuana program, backed by the Mormon Church, functions like pharmaceutical distribution.
- Conversely, states like Oregon and Oklahoma have more open policies, with Oregon once having more dispensaries than Starbucks and McDonald's combined.