A High Stakes Year: Key Developments in the Cannabis Industry in 2024
Election years often stir the pot for the cannabis industry, and 2024 was no exception. While cannabis wasn’t the political hot potato of the season, several states tackled legalization questions—some even dabbling in psilocybin reforms. From game-changing legislative shifts to market momentum, this year showcased a blend of hurdles and headway for the growing sector. Here’s a breakdown of the year’s biggest moments and their potential impact under the incoming administration. DEA’s Big Move: Cannabis Rescheduled The DEA made history in April by announcing its intention to reschedule cannabis from Schedule I to Schedule III under the Controlled Substances Act. Cue the confetti—this marks the most significant federal progress toward legalization in over 50 years! President-elect Trump, however, has been