DEA's Biggest Change in 50 Years: Marijuana Moved to Schedule III

Apr 30, 2024, 06:38 PM

The U.S. Drug Enforcement Administration (DEA) is set to reclassify marijuana, moving it from a Schedule I to a Schedule III substance, marking the DEA's biggest policy change in over 50 years. This change, which still requires approval from the White House Office of Management and Budget, recognizes the medical uses of cannabis and its lower potential for abuse compared to more dangerous drugs. The reclassification could ease restrictions nationwide, impacting criminal justice and the cannabis industry. The decision follows President Biden's directive for a review of marijuana's classification in August 2022 and aligns with the legalization policies of 24 states. Following the announcement, cannabis stocks have rallied significantly.