What President Trump’s order on marijuana could mean to Arizona dispensaries

PHOENIX — Arizona dispensaries could benefit from President Donald Trump’s new executive order directing the U.S. attorney general to reclassify marijuana, according to a local industry leader.

Raul Molina, the chief operations officer for Arizona-based Mint Cannabis, said he hopes Trump’s plan to move marijuana from a Schedule I drug to a Schedule III drug will eliminate a special tax that applies to Schedule I or II controlled substances.

“There’s always excitement when big change comes, and this is definitely big change. It’s probably the biggest thing in cannabis since ’94,” Molina told KTAR News 92.3 FM.

Molina added that he doesn’t expect an immediate impact.

“I think it’s probably (going to take) about six months to a year before we start seeing major changes, but it is incredible. It is awesome,” he said.

Details about Trump’s executive order to reclassify marijuana

The category of Schedule I drugs is assigned to substances with no acceptable medical use and a high potential for abuse, such as heroin and LSD.

In contrast, Schedule III drugs are categorized as less severe, with moderate to low potential of making people physically and psychologically dependent. Some other Schedule III drugs include ketamine, anabolic steroids and testosterone.

By reclassifying the way marijuana is categorized within the Drug Enforcement Administration (DEA), Trump’s new executive order could open new avenues for medical research, since it can be hard for researchers to get authorization for clinical studies on Schedule I substances.

One of the main benefits Molina is excited about is the reduction of a massive tax that burdens the cannabis industry.

“So, the federal was taking 40% off the top,” he explained. “It’s going to be huge. We’re basically going to get a 20% rate across the industry.”

What impact will Trump’s executive order to reclassify marijuana have?

Molina believes Trump’s executive order will ease the financial burden on struggling dispensary owners and give thriving businesses room to grow.

“Some of the only that are operating decently, it’s going to allow them to develop a little bit more — hopefully better the customer service,” he said. “It’s definitely something that’s going to influx a little bit more money into the industry, and the industry could really use it.”

He said its should also allow dispensaries to begin accepting credit and debit card payments. It will be like making purchases anywhere else.

“Looking forward to, hopefully, MasterCard and Visa opening up their rails, their programs so that we are able to take debit and credit,” he said. “Debit will be just enough. We don’t even care if we don’t get credit.”

Additionally, he thinks the declassification could reduce stigma and give curious customers the push they need to finally try marijuana and give dispensaries across Arizona — and the U.S. — a welcome spike in business.

“A lot of people think that anybody who’s in cannabis is just killing it, and I want to be honest with you: It’s a struggle,” Molina said. “It’s an everyday struggle, and this is definitely going to help.”

KTAR News 92.3 FM’s Balin Overstolz McNair contributed to this report.

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