Ten Minute Interview: Alternative Investments

Effective April 22, 2026, the Acting Attorney General issued a final order placing certain categories of marijuana and marijuana products into Schedule III of the Controlled Substances Act (“CSA”) in accordance with President Trump’s December 18, 2025 Executive Order on Increasing Medical Marijuana and Cannabidiol Research. This is a landmark development in federal drug policy and one that carries significant legal and business consequences for entities in the pharmaceutical, cannabis, healthcare, tax, and regulatory compliance sectors. As with most everything touching marijuana, however, the details matter enormously. Importantly, the Final Order does not broadly reclassify marijuana. Instead, it defines a narrow and conditional rescheduling that includes several important caveats, added steps, and ongoing obligations that affected parties must understand.

This episode features a conversation with Chanley Howell. Chanley is a partner and intellectual property lawyer in Foley’s Jacksonville office where his practice focuses on a broad range of technology law matters. In this discussion, he reflects on growing up in Jacksonville, FL, attending Vanderbilt University for undergrad and the University of Florida College of Law.

Foley & Lardner’s national partnership with Boys & Girls Clubs of America (BGCA) is driven in our 25 North American offices through the commitment and support of our attorneys and business professionals who create unforgettable experiences for youth at local Clubs.