Colorado's cannabis dispensaries could get a long-awaited tax break and easier access to traditional banking services expedited by President Donald Trump's executive order last month. Shop owners say they'll believe it when they see it.
"We're just kind of waiting to see how everything shakes out," said Parker White, manager at the Rocky Road adult-use dispensary in Vail.
Colorado is one of 24 states in the U.S. that allows adult marijuana use and one of 40 states that allows for the medical use of cannabis, according to the National Conference of State Legislatures. Still, local sellers in Colorado's mountain towns are left facing restrictions due to the federal regulation and classification of marijuana products.
Trump signed an executive order on Dec. 18 directing the U.S. Attorney General to expedite the ongoing process of reclassifying marijuana from a Schedule I to a Schedule III substance — an effort that originally began under the Biden administration in 2022. Under the Controlled Substances Act, a Schedule I substance is classified as having "no accepted medical use" and a "high potential for abuse," according to the Drug Enforcement Administration. Other Schedule I drugs grouped in with marijuana include heroin and LSD.
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