For the second year running, the $32.1 billion U.S. cannabis industry will head into the Labor Day holiday weekend on the heels of a major milestone in the Biden administration’s effort to reschedule marijuana.
Instead of celebration, however, anger and a minor sell-off of cannabis stocks followed Monday’s announcement that an administrative law judge won’t hear the Justice Department’s proposal to recategorize marijuana to Schedule 3 of the Controlled Substances Act until December.
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A year ago, the industry headed into the Labor Day holiday weekend celebrating “the biggest thing ever” to happen with cannabis reform when federal health regulators recommended that marijuana be classified as medicine.
But this year, U.S. Drug Enforcement Administration chief Anne Milgram’s notice in the Federal Register of a
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