US Moves to Reclassify Marijuana as Schedule III Drug
The Department of Justice is moving marijuana from Schedule I to Schedule III. This shift allows cannabis firms to claim tax deductions and access bank funding.
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Shares of major cannabis companies experienced a significant rally on Thursday following a landmark decision by the United States government to reclassify marijuana as a less dangerous substance. This shift in federal policy is being hailed by industry experts as one of the most significant regulatory developments in decades.
