There’s big news for cannabis out of Washington, D.C.
President Donald J. Trump signed an executive order on Thursday directing the federal government to speed up the process of rescheduling marijuana from a Schedule I drug to the less restrictive Schedule III under the Controlled Substances Act. The stated goal of the order is to expand cannabis research and bring clarity to a process that was initiated under the Biden administration but left unfinished.
The executive order instructs the attorney general to expedite the completion of the rescheduling review, which would move marijuana away from Schedule I — a classification reserved for substances deemed to have no accepted medical use and a high potential for abuse — and into a lower schedule, most commonly discussed as Schedule III. If finalized, the shift could have meaningful effects for researchers and investors, important implications for doctors and patients, and potentially significant relief for small cannabis retailers currently burdened by existing federal tax laws.
Here on Aquidneck Island, Newport Cannabis Co. is recognizing the moment on Friday, 12/19, with special in-store surprises. Founded on a belief in the medical properties of cannabis, Newport Cannabis Company and its founder, Octavius Prince, say the announcement represents progress toward broader understanding and acceptance of the plant’s potential — even as the formal rescheduling process continues.
“We are extremely pleased to hear the news of the federal government taking steps to move this process forward,” Prince said. “ Newport Canna Co. is passionate about educating the public on the benefits of legal cannabis, and we welcome Rhode Islanders to stop by with questions. There’s going to be a lot of information circulating, and we encourage people to come talk to those who live, breathe, and work with Rhode Island cannabis every day.”
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