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What Schedule III Doesn't Do:
It doesn't legalize cannabis federally
It doesn't allow you to legally possess or consume cannabis under federal law
It doesn't stop federal law enforcement from prosecuting you
It doesn't resolve banking issues for most cannabis businesses
It doesn't expunge the records of the millions arrested for cannabis offenses
It doesn't allow interstate commerce
It doesn't remove cannabis from the Controlled Substances Act
What Schedule III Does Do:
Removes IRS Code 280E, giving massive tax breaks to large cannabis corporations
Requires FDA approval for cannabis products (hello, Big Pharma!)
Subjects dispensaries and growers to the Food, Drug, and Cosmetic Act
Creates new federal crimes including selling prescription drugs without a license, misbranding, and illegal distribution
Effectively hands the cannabis market to pharmaceutical companies while crushing small operators
I think its silly to expect legal states who were already disregarding federal law and supplanting it with their own state laws are suddenly going to start requiring prescriptions and FDA intevention for the same reason they won't limit refils the same was schedule 3 demands. No one collecting tax revenue is going to change whats already working. Your entire laundry list disregards that the states themselves are already not following federal law and federal law is the one slowly changing to reflect what states are already doing, not to impose a new order of marijuana laws.
It's literally a drug and should absolutely require FDA approval. Preferably by one with competent leadership, but either way.
Then anything sold with ethanol should require FDA approval.
Of course it should.
But it's also very regulated regardless.