Cannabis moved to Schedule III, easing research and banking while federal legalization remains off the table

The Trump administration moved cannabis from Schedule I to Schedule III under the DEA, easing federal research barriers and allowing FDA-approved products and state-licensed items to be treated as Schedule III, while opening banking access and tax deductions for cannabis businesses. An expedited June hearing will also consider formal reclassification back to Schedule I at the federal level, signaling a broader, cautious shift in federal cannabis policy without legalizing it federally.