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Impact of Marijuana Reclassification on Pharmaceutical Companies by Mid-2025
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Resolution / Starting Odds
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Stock market data, pharmaceutical company press releases, or industry reports
Story
Justice Department Proposes Reclassification of Marijuana to Schedule III on Thursday
May 16, 2024, 05:04 PM
The U.S. Justice Department has officially proposed a new rule on Thursday to reclassify marijuana from a Schedule I to a Schedule III drug. This policy move, if approved, would ease federal restrictions on cannabis, marking a significant shift in U.S. drug policy. The proposal is part of the Biden administration's efforts to address the injustices in marijuana policy. The reclassification would place marijuana in the same category as ketamine and anabolic steroids, potentially enabling more research into its medicinal benefits. The Department of Health and Human Services supports the proposal, citing credible scientific evidence for the medicinal uses of cannabis. The Justice Department will issue a notice of proposed rulemaking.
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