US Marijuana Reclassification & Virginia Judge Blocks Redistricting Result

Guest Host: John Gerardi    The U.S. is expected to reclassify marijuana from Schedule I to Schedule III, a move that could significantly benefit legal cannabis companies. Reclassification would allow marijuana businesses to deduct normal operating expenses, ending a major tax burden under IRS Section 280E, and could make it easier to access banking, loans, and institutional investment. Industry analysts say the shift could also spur mergers, attract new capital, and accelerate medical research, reshaping the cannabis market even though marijuana would remain illegal at the federal level. A Virginia circuit court judge issued an order blocking the results of a congressional redistricting referendum that could net Democrats four extra seats in the U.S. House of Representatives in 2026. Please Like, Comment and Follow 'Philip Teresi on KMJ' on all platforms: ---     Philip Teresi on KMJ is available on the KMJNOW app, Apple Podcasts, Spotify, YouTube or wherever else you listen to podcasts.  -- Philip Teresi on KMJ Weekdays 2-6 PM Pacific on News/Talk 580 AM & 105.9 FM KMJ  | Website  | Facebook | Instagram | X | Podcast | Amazon | - Everything KMJ KMJNOW App | Podcasts | Facebook | X | Instagram  See omnystudio.com/listener for privacy information.