The U.S. Drug Enforcement Administration is in the process of reclassifying marijuana to a less risky drug category, acknowledging its medical value but stopping short of legalizing it for recreational purposes. This shift would move marijuana from the highly regulated Schedule I to the less stringent Schedule III. However, this change is not immediate and must go through several stages, including review by the White House and a period for public comments.
President Joe Biden supports the use of medical marijuana where it is deemed appropriate but reclassifying marijuana to Schedule III would not automatically make recreational cannabis legal across the country. Schedule III substances, which include ketamine and some acetaminophen-codeine combinations, remain controlled substances subject to various regulations and federal prosecution for unauthorized trafficking.
The reclassification could have implications for research, potentially making it easier to conduct authorized clinical studies involving marijuana. It could also lead to significantly lower taxes for cannabis businesses, as they would no longer be subject to certain tax deduction restrictions imposed on Schedule I substances.
Critics argue that this move is too incremental and falls short of the complete removal of marijuana from the controlled substances list. They believe that rescheduling would only maintain the existing divide between state and federal marijuana policies and not fully address the challenges faced by the industry.