Biden Signs Medical Cannabis Research Expansion Bill

A bill that expands the research capabilities of pharmaceutical and government bodies into the efficacy of medical cannabis has been signed by President Joe Biden after passing through Congress last month.

The Marijuana and Cannabidiol Research Expansion Act was signed into law on December 2 after unanimously passing through the Senate toward the end of November. The Act aims to provide federal support to facilitate research of cannabis and its potential health benefits.

Its passing comes after 39 states have already passed their own medical cannabis laws, and 21 have legalized the plant for recreational use.

Currently under federal, any cannabis plant with a THC content higher than .3% is considered a Schedule 1 Controlled Substance. This puts cannabis on par with narcotics such as heroin, bath salts and ecstasy.

Because of its status on the Controlled Substances list, cannabis has received very little funding toward research by the federal government. The Marijuana and Cannabidiol Research Expansion Act aims to lift some of the barriers on this research.

The Act aims to accomplish three major items:

• Provide more mechanisms for the scientific study of cannabis and cannabidiol (CBD) for medical purposes

• Create pathways for FDA to approve commercial production of drugs containing or derived from cannabis

• Protect doctors who discuss the harms and benefits of medical cannabis with their patients

It also requires the Department of Health and Human Services and the National Institute of Health to submit a report to Congress on the potential harms and benefits of cannabis use. The submission of the report must be completed within one year of the bill’s signing.

There is additional legislation aimed at making the cannabis industry more accessible, specifically the SAFE Banking Act. The SAFE Act has passed through the House several times, but has consistently been held up in the Senate. This Act would protect federal banking institutions that conduct business with legal cannabis businesses.

Currently banking is one of the largest barriers for cannabis business owners, as most if not all federal banking services refuse to do business with plant-touching businesses.