David Klein, chief executive officer of Canopy Growth, joins BNN Bloomberg to discuss reports of the U.S. DEA moving to reschedule cannabis in the U.S. as a lower-risk substance. The Biden administration moved Tuesday to reclassify marijuana as a lower-risk substance, a person familiar with the plans told CNN. While the DEA's opinion to reschedule cannabis fails to go far enough, it represents the first time the agency has ever abandoned its 'Flat Earth' policy on marijuana. The proposed change has the potential to set up a contrast between Biden and Trump, who has shown little interest in engaging with federal cannabis policy. The DEA's plan to reschedule marijuana from a Schedule I controlled substance to Schedule III was expected.
In a milestone move, the Drug Enforcement Administration is calling for cannabis to be reclassified under federal law, according to an AP report. The Biden administration will soon propose reclassifying marijuana from the most severe Schedule I to Schedule III. There are numerous steps involved in the process, including public comment periods and regulatory reviews. The top Democrat in the U.S. House says the Biden administration's move to reschedule marijuana is a “step in the right direction,” but it also highlights the need for broader cannabis reform. Updated 8:15 a.m.. May 1, 2024. The Drug Enforcement Administration (DEA) is moving to reclassify cannabis as a Schedule III drug under the Controlled Substances Act.