On April 30, 2024, the US Department of Justice recommended that cannabis be rescheduled as a Schedule III controlled substance, marking a significant shift in federal drug policy. This move comes as the Biden administration and Democratic lawmakers push for the decriminalization of marijuana at the federal level.
The Justice Department formally started the procedure of classifying marijuana as a less dangerous substance, moving toward a major change that could have far-reaching implications for the cannabis industry and its consumers. If approved, the new classification would put marijuana in the same category as ketamine and some steroids.
With the Biden administration moving to reschedule marijuana, congressional researchers have updated a pair of reports outlining the “legal and historical background” of cannabis. This move reflects the growing momentum behind efforts to reform federal marijuana laws and regulations.
The Biden administration announced Thursday that it has taken the next step to reclassify marijuana as a less dangerous drug under federal law. This decision has been met with mixed reactions from advocates, industry stakeholders, and lawmakers who have long called for cannabis reform.
As Democratic lawmakers push for the federal decriminalization of marijuana, U.S. President Joe Biden on Thursday announced the Department of Justice's intention to initiate the rulemaking process to reclassify cannabis. This development signals a significant shift in federal drug policy and could pave the way for broader changes in how marijuana is regulated and treated under the law.
(Bloomberg) -- The Justice Department formally started the procedure of classifying marijuana as a less dangerous substance, moving toward a landmark decision that could impact the future of the cannabis industry. This move reflects a growing recognition of the therapeutic potential of cannabis and the need to revisit outdated drug policies.
President Joe Biden announced on Thursday that the Department of Justice (DOJ) would initiate the rulemaking process to reclassify cannabis, signaling a major shift in federal drug policy. This decision could have wide-ranging implications for the cannabis industry, including potential changes to banking regulations, research opportunities, and access to medical marijuana for patients in need.
Next in the process is a 60-day public comment period, but it's unclear how much longer the rescheduling process will take. Advocates and industry stakeholders are closely monitoring the situation, eager to see how this decision will impact the future of cannabis legal and regulation at the federal level.
