The U.S. Justice Department has moved forward with reclassifying marijuana as a less dangerous substance. Acting Attorney General Todd Blanche announced the Trump administration’s plan to immediately reschedule FDA-approved marijuana and state-licensed marijuana from Schedule I to Schedule III. Currently, marijuana is designated a Schedule I drug, described as having “no currently accepted medical use and a high potential for abuse.” The Schedule III reclassification would list it among painkillers and testosterone.
Blanche stated, “These actions will enable more targeted, rigorous research into marijuana’s safety and efficacy, expanding patients’ access to treatments and empowering doctors to make better-informed healthcare decisions.” He added, “The Department of Justice is delivering on President Trump’s promise to expand Americans’ access to medical treatment options. This rescheduling action allows for research on the safety and efficacy of this substance, ultimately providing patients with better care and doctors with more reliable information.”
The reclassification would have several impacts on medical marijuana usage. The issuance would pave the way for further research into medicinal potential, enabling more healthcare professionals to recommend the drug to eligible patients. The announcement has already impacted the stock market, boosting stock prices of cannabis-affiliated companies. Looser restrictions could lead to lower tax burdens and wider funding opportunities for newer companies. Last December, President Donald Trump signed an executive order clearing the way for the DEA to approve a reclassification and urging more medical research on the drug as federal regulation shifts. The federal government has scheduled a hearing for June 29 to formally change marijuana’s legal status.
This article is an AI-assisted summary. All facts and figures are drawn from the original report: https://www.blackenterprise.com/medical-marijuana-reclassified-schedule-iii-substance/