See guys – that was easy, right?
On February 6, 2025, the House quickly passed the HALT Fentanyl Act with significant democrat support. In my view, this is excellent precedent for cannabis rescheduling efforts.
The legislation – if supported in the Senate – will permanently move fentanyl from a Schedule 2 drug to Schedule 1 under the Controlled Substances Act. Currently, fentanyl-related substances were temporarily placed on Schedule 1 but the classification is set to expire in March.
Fentanyl-related substances are structurally similar in chemical make-up to fentanyl which is approved as a powerful opioid analgesic. The dangerous “cousins” are plentiful, and the legislative move is intended to support enforcement against the deadly street drug versions.
I point to three reasons why this move is supportive of cannabis rescheduling efforts.
First - Swift Action. This illustrates the ability of Congress to move quickly to reschedule a substance if it wants. In my view, this move with fentanyl will be cited by cannabis reform proponents to re-engage rescheduling efforts started last year.
Second - Intended to fight opioid use. A primary goal of the legislation is to combat the use of opioids in the U.S. This directly aligns with goals of cannabis reform supporters.
Studies have shown reduced opioid use in states with medical cannabis programs. The thought is that cannabis is substituted for opioid pain medication. If the first opioid prescription can be avoided, there will be a lower chance a patient develops dependency. This correlation has been consistently cited over the last 5-10 years as states have reformed cannabis laws. Medicinal cannabis supports the same goals as the HALT Fentanyl Act.
Third - Bipartisan, common-sense legislation. This law aligns well with President Trump’s desire for common sense governance. It is well documented that fentanyl is a killer. It is a primary reason life expectancy in the U.S. declined in 2020. Per a Harvard Medical School article in 2022, life expectancy was 79 in 2019. It fell to 77 in 2020, and 76 in 2021. Drug overdose and COVID were the primary culprits.
There is so much to like about this legislation. Its common sense goals will be used in efforts to reschedule cannabis. Let us hope it remains focused and doesn’t get loaded up with pork. As we know, there is nothing common sense about current cannabis regulation. Read my top ten favorite (ridiculous) cannabis policy conflicts here.
Rose colored glasses? I’ve been a medical cannabis analyst and investor for over a decade. Why haven’t I thrown in the towel? Because I believe very strongly in the power of common sense. Am I looking through my rose-colored glasses? Should I be renamed Polly Ann? Maybe. But there are just so many reasons why cannabis laws should be reformed.
And, the reasons continue to mount. In my view, it is inevitable that common sense will prevail. This will be incredibly good for society, medicine, recreation, investors, state and federal revenues, employment, and more.
Meaningful cannabis regulatory reform is indeed upon us.
Cheers,
Thomas Carroll
RuxtonPark Research
RuxtonPark Research | Substack
Important Disclaimer. Nothing in this report or anything written by RuxtonPark Research, Thomas Carroll, or affiliated research should ever be considered individual investment advice. This is purely for information and educational purposes only. Every investment involves risk, and participants should do ample due diligence, seek the counsel of registered investment advisors, and only risk what they can afford to lose.
