The third consecutive global cannabis victory has been achieved! The United States has finally rescheduled cannabis, moving it to Schedule III. The Department of Health and Human Services (HHS) and the Food and Drug Administration (FDA) have released a report deeming cannabis a safe medicine. And Germany removed the narcotic content from cannabis, making it easier to prescribe.
We are entering an era of global regulatory change and medical cannabis explosion that can only be likened to the early years of legalization in the US and Canada in 2014. This time, the most influential economies, the United States and Germany, and important health regulations were introduced. The FDA has officially recognized cannabis as a medicine.
Impact of HHS report on cannabis: A catalyst for change
The move began with a 252-page HHS report filed in August 2023 and made public in January 2024 thanks to the Freedom of Information Act. The report is packed with medical evidence on the safety of cannabis, declaring that cannabis is beneficial for at least 15 medical indications.
HHS and FDA made this decision after studying cannabis use in the United States over two decades, citing reports from more than 6 million patients and more than 30,000 prescribing physicians. The report makes it clear that cannabis is safe. Additionally, cannabis has been shown to be safer than current pharmaceutical alternatives, with the lowest risk of overdose death and hospitalization. Additionally, the report cites benefits for multiple medical indications, including neuropathic pain, Crohn's disease, and anorexia.
This is arguably the most influential report on the path to medical legalization to date, and regulators around the world are analyzing it for their own markets.
Germany's medical cannabis reform
In March, Germany passed a comprehensive cannabis reform bill known as Pillar 1.
Germany is the most powerful and influential European country in the evolving global cannabis market. For seven years, Germany has been blazing a trail to provide its citizens with greater access to cannabis.
What does Germany's cannabis reform require?
German law essentially decriminalizes cannabis, creates a regulatory framework for social clubs, and, most importantly, removes it from the list of narcotics.
Marijuana is no longer a drug in Germany
The removal of narcotic substances allows doctors and clinics to freely prescribe cannabis with minimal medical regulation.
Germany fully complied with European Union (EU) regulations and the World Health Organization (WHO) Drug Law of 1971 regarding the exclusion of drug derivatives and the decriminalization of cannabis. Still, this was a very bold move. Germany's progress is sure to draw other EU countries into the future, forcing them to take a more progressive stance towards cannabis, even after the WHO recognized it as a medicine in December 2020. .
German medical cannabis brings change across Europe
Since Germany started this process in 2024, countries like the Czech Republic have already adopted liberal programs similar to Germany. Countries such as Spain and France are beginning to open up their medical cannabis markets to more conservative extracted product forms. Germany is calling on EU market regulators to fight legalization of access to medicine for patients.
Cannabis rescheduling in the United States
And now, in the first quarter of 2024, the United States will finally move cannabis from Schedule I to Schedule III to limit its advancement.
Politics was overridden by executive action from HHS and DEA, and there appears to have been pressure from the White House. The cannabis deferral means that at the institutional level, the U.S. government approves cannabis as a medicine.
How US schedule changes will shape the cannabis industry
The schedule change ends decades of debate over cannabis and arguments that bills such as the Secure and Fair Enforcement Regulation (SAFER) Banking Act and the Gun Rights and Marijuana (GRAM) Act should not be passed. nails will be shattered.
While the new Schedule III listing won't be immediately helpful for most cannabis businesses, further regulations are expected to become more relaxed. But the most important outcome for the global regulated market is that the United States also considers cannabis a medicine.
A bright future for regulated and medical cannabis in 2024
The HHS report, German declassification, and U.S. schedule changes have led to changes in the global regulatory market, resulting in an explosion of medical cannabis regulations around the world. 2024 will likely see a steady stream of countries announcing new regulations, and I predict this year will be the most significant turning point in global cannabis history. The global cannabis explosion is here!
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