Predictions for the Future of Cannabis: A Webinar from the Cannabis Research Center

On September 17, 2024, the Cannabis Research Center (CRC) at the University of California, Berkeley hosted the webinar, “Cannabis Rescheduling Webinar: Possibilities & Limits,” which was moderated by Amanda Reiman, Chief Knowledge Officer of New Frontier Data, a data and analytics company serving the legal cannabis space. The hour and a half webinar featured five panelists: Daniele Piomelli, Distinguished Professor of Anatomy and Neurobiology at University of California, Irvine; Aaron Smith, CEO and co-founder of the National Cannabis Industry Association; Steph Sherer, founder and president of Americans for Safe Access; Jordan Tishler, MD, founder of the Association of Cannabinoid Specialists; and Ethan Fallon, JD, counsel for the office of Senator Alex Padilla. As Reiman explained in the introduction to the webinar, “[rescheduling] is by no means the end of the conversation. In fact, this is the very beginning of a conversation that we have been waiting 50 years to have.”

The first question of the webinar was presented to Ethan Fallon and asked how rescheduling cannabis to schedule three could impact federal and state laws that currently govern its use, especially in states where cannabis is legal for recreational or medicinal. Fallon first stated that this would not legalize the drug for all uses under federal law and explained four main areas of impact:

1. Cannabis would be officially recognized as having accepted medical use.
2. There would be a reduction in criminal penalties for possession, distribution, and use.

1. Cannabis businesses would likely benefit from more favorable tax treatment.
2. Access to banking services and research opportunities would also likely improve.

Other panelists also contributed their opinions on harmonizing state and federal governments and the ongoing conversations to make that happen.

Next, Daniele Piomelli explained what new opportunities for research could be open, particularly in areas that were previously under-explored due to legal constraints. Dr. Piomelli explained the process of conducting research on cannabis and tetrahydrocannabinol (THC). He also stated: “The problem, in my mind, is that I think this legal landscape is not really designed to keep safe the public, it’s really intentionally designed to reduce research in this area.”

Aaron Smith explained how rescheduling could affect the growth of the legal, regulated cannabis industry, specifically for small businesses, highlighting deductions they would be able to take and how this would benefit the industry.

Dr. Jordan Tishler explained how rescheduling could impact perceptions and stigmas associated with medical cannabis use, noting that state-legal cannabis programs would still be out of compliance with federal law, elaborating on the need for more research, and explaining the need for better systems to help patients and physicians.

Steph Sherer explained the impact, or lack thereof, that rescheduling could have on current medical cannabis programs across various states, especially concerning accessibility, the manufacturing of medical cannabis, and the new conversations that will need to happen.

Several questions from attendees were answered live and included topics such as role of the Food and Drug Administration (FDA), the involvement of other federal agencies such as the Environmental Protection Agency (EPA), and more.

A final “rapid fire” question for all panelists to answer in a few words was: if you could have cannabis end up anywhere (reschedule, deschedule, etc) where would that be?

The full webinar is anticipated to be posted to the Cannabis Research Center YouTube channel.