The US Drug Enforcement Administration (DEA) has announced its decision to reclassify marijuana under federal law, moving it from Schedule I to Schedule III. This change comes after months of cannabis policy reform efforts by the Biden administration. According to the Associated Press, the DEA’s decision is subject to approval by the White House Office of Management and Budget.
Under the new classification, marijuana will be considered a less dangerous drug, with a lower potential for abuse and a recognized medical use. This change is a significant step forward for federal cannabis policy, but some advocates argue that it is a modest step given the strong public support for comprehensive cannabis reform.
The DEA’s decision is based on a review of the science behind the medicinal use of cannabis, which found that it has legitimate medical uses and a relatively low potential for abuse. This conclusion was supported by a federal review of cannabis research conducted by the US Department of Health and Human Services (HHS) in January.
The regulated cannabis industry is welcoming the decision, with many operators praising the federal drug law enforcement agency for changing its stance on marijuana. The CEO of Curaleaf, Matt Darin, called the decision “one of the most monumental developments that cannabis has seen in years” and said it reflects evolving attitudes towards the plant.
The reclassification of marijuana is expected to have a significant impact on the profitability of regulated marijuana companies, as taxes will decrease and companies will be treated as any other business. However, some critics argue that the decision does not go far enough, as it does not address the criminalization of medical cannabis patients and cannabis consumers under state laws.
Overall, the DEA’s decision to reclassify marijuana is a significant step forward for federal cannabis policy, but it is also a reminder that there is still much work to be done to achieve comprehensive cannabis reform.
