At Nabis, we're committed to driving positive change in our industry. Today, we're excited to announce a significant step in that direction: we've submitted a formal letter to the Drug Enforcement Administration (DEA) advocating for rescheduling of cannabis from Schedule I to Schedule III.

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The Case for Rescheduling

Our submission to the D.E.A. outlines several compelling reasons for this proposed change:

1. Recognized Medical Benefits

Over decades of use and study, cannabis has demonstrated clear medical benefits. We've cited numerous medical professionals who have observed cannabis's efficacy in relieving pain, nausea, and other symptoms associated with conditions such as multiple sclerosis, cancer, and AIDS. Furthermore, some experts suggest that cannabis could potentially reduce dependency on more dangerous substances, particularly opioids.

2. Alignment with International Obligations

We've addressed concerns about U.S. obligations under international drug control treaties. Our research indicates that other signatories to these treaties, such as Canada and Uruguay, have already legalized cannabis. These nations argue that the treaties allow for reevaluation based on new scientific and medical evidence, setting a precedent for the United States to follow suit.

3. Positive Impact on Law Enforcement and Social Justice

Contrary to initial concerns, many law enforcement agencies in states with legalized cannabis have not reported significant increases in crime. Some police associations now support legalization, recognizing that a well-regulated industry is preferable to an illicit market.

We've also highlighted the historically disproportionate enforcement of cannabis laws against people of color. Rescheduling could be a significant step towards addressing this longstanding issue and promoting criminal justice reform.

4. Enhanced Regulation and Oversight

In our proposal, we advocate for increased D.E.A. involvement in regulating the cannabis industry if it's moved to Schedule III. We believe the D.E.A. should play a role in ensuring proper track-and-trace compliance in state-legal markets to prevent interstate and international smuggling of cannabis products.

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Potential Impact of Rescheduling

If the D.E.A. were to reschedule cannabis to Schedule III, it could have several significant effects on the industry and society:

• Expanded opportunities for medical research
• Potential tax benefits for cannabis businesses
• Improved access to banking services for the industry
• Possible reduction in cannabis-related arrests and convictions
• Increased federal oversight of state-legal cannabis markets

Moving Forward

At Nabis, we believe this rescheduling would represent a significant milestone for the cannabis industry. It would acknowledge the medical benefits of cannabis, address social inequities, and provide a framework for responsible industry growth.

We're committed to fostering an open dialogue on this important issue. We encourage all stakeholders - from industry professionals to consumers work together to shape an equitable future for cannabis.