Marijuana is set to be reclassified as a lower-risk drug in the United States which will have wide-reaching implications for the cannabis sector.
The Biden administration in 2022 ordered the initiation of a review of how marijuana is scheduled within the Controlled Substances Act.
The Drug Enforcement Administration (DEA), part of the Department of Justice (DOJ), has subsequently approved a recommendation from the Department of Health and Human Services to reclassify marijuana from the strictest category of the act, Schedule 1, to Schedule 3.
Instead of being classified alongside heroin and LSD, cannabis will instead sit with drugs like ketamine, testosterone, and codeine. The reclassification does not legalize marijuana for recreational use in the US.
“The Attorney General circulated a proposal to reclassify marijuana from Schedule 1 to Schedule 3,” Justice Department director of public affairs Xochitl Hinojosa said in…
