Historic Shift: U.S. Moves to Reclassify Marijuana, AP Sources Say

In a historic shift, the U.S. moves to reclassify marijuana as a less dangerous drug, AP sources say. Currently, cannabis is classified along with drugs like heroin and LSD. The administration is expected to reschedule it into a category that reflects its potential medical benefits.

The federal government's plan would recategorize pot, once deemed highly dangerous, addictive, and without medical use, as a prescribable substance. The U.S. Justice Department on Tuesday moved to make marijuana use a less serious federal crime, taking a step to remove the drug from a highly restrictive category.

The U.S. Drug Enforcement Administration is moving toward reclassifying marijuana as a less dangerous drug. The Biden administration moved Tuesday to reclassify marijuana as a lower-risk substance, a person familiar with the plans told CNN.

The measure, if enacted, would not instantly legalize marijuana at the federal level but could broaden access to the drug for medicinal use. Cannabis stocks surged Tuesday on the news that the U.S. Drug Enforcement Administration intends to reclassify marijuana to Schedule 3.

The move kicks off a lengthy rule-making process and could amount to a major change in federal policy. This decision may have significant implications for the cannabis industry, as it could lead to increased research and development opportunities, as well as expanded access to medical marijuana for patients in need.