The federal government has reclassified state-licensed medical marijuana as a less dangerous drug, and effects of the decision will be felt in Arizona.
The order signed by the U.S. attorney general does not legalize medical marijuana, but it does put it in a class considered to have low potential for physical and psychological dependence.
Sara Gullickson is CEO of a Phoenix-based firm called Cannabis Business Advisors. She said rescheduling is a best case scenario and it will increase the value of retail licenses.
“What it does is it showcases to investors that this is becoming a more safe space,” Gullickson said.
