The Trump administration has reclassified medical marijuana to Schedule III, a less strictly regulated category that many researchers, business owners, and cannabis users have long awaited. This move could ease research restrictions and provide tax relief for cannabis businesses. The change comes as Nevada's legal cannabis market continues to soften, with the most recent report showing $829 million in taxable sales for 2024, a 2% decrease from 2023. However, Riana Durrett, executive director of UNLV’s Cannabis Policy Institute, said questions remain regarding licensing changes, which could complicate how businesses determine which costs qualify as tax-deductible. Critics of marijuana legalization argue that this change could signal a more tolerant federal approach to the industry.