BOZEMAN — On Thursday, the Trump administration reclassified state-licensed medical marijuana as a less dangerous drug – a change that could impact local businesses.
“It feels like hope,” said Mariah Bond.
Bond is the Chief Operating Officer of Euphoria Wellness and cannabis brand Soultonix.
“We have eight dispensaries actually across the state,” said Bond.
Bond says she started using medical marijuana after she was diagnosed with PTSD at age 17.
“I went and got my medical marijuana card, and I could just feel the complete difference,” said Bond.
“When I have a hard time eating, it helped with my appetite. It helped with the depression,” she added.
Flash forward, Bond is heavily involved in the cannabis industry as the executive director of the Montana Cannabis Coalition. She says the reclassification of state-licensed medical marijuana gives her:
“Just a little bit more hope that there’s a path forward for us to continue to work our way into being accepted fully into society,” said Bond.
Prior to its reclassification, medical marijuana was a Schedule I drug, along with drugs like ecstasy and heroin. Now, it’s a Schedule III drug, considered moderate to low potential for psychological dependence, like ketamine and Tylenol with codeine.
“It is the first time in 50 years where we can say unequivocally that the federal government has acknowledged that there is medical benefit in this plant,” said Eugenio Garcia.
Garcia is the CEO and co-founder of Bozeman-based Cannabis Now magazine. MTN’s Esha Walia asked him what the most significant impact of the reclassification will be:
“Right now, the biggest thing nationally is from a business perspective,” said Garcia.
“Many people have gone out of business. And many people are working really, really hard to stay in business with these thin profit margins,” he added.
According to a Congressional Research Services report, moving medical marijuana to Schedule III would “allow marijuana businesses to deduct business expenses on federal tax filings.”
According to the Justice Department, it also alleviates some barriers to medical research on cannabis.
“…which will allow us to have a drastic understanding of how this plant can affect you in a beneficial way,” said Garcia.
What’s paramount to know about the reclassification, Garcia and Bond say, is that it is just the beginning. A hearing scheduled for June 29th will evaluate further changes to marijuana under federal law.
“It is just an acknowledgment that this is the start of the future of cannabis federally and at the state level,” said Garcia.
“I love figuring out what we can all do together to move cannabis forward in a safe and smart way,” said Bond.
