WASHINGTON - In a move that could signal a major shift in federal cannabis regulation, the U.S. Food and Drug Administration (FDA) has advocated for the reclassification of marijuana to Schedule III. This change acknowledges the medical uses of marijuana and its lower potential for abuse compared to substances currently listed in more restrictive categories.
The Department of Health and Human Services (HHS) has also recommended this reclassification. If enacted, the rescheduling of marijuana would likely have a significant economic impact on the cannabis industry. It could lead to more relaxed banking laws and revised tax codes, potentially easing the financial and legal burdens that currently weigh on cannabis-related businesses.
The current federal categorization of marijuana as a Schedule I substance places it alongside drugs that are considered to have no medical use and a high potential for abuse. The proposed reclassification to Schedule III would align federal policy with the growing body of research and state-level legislation that recognizes the medical benefits of cannabis.
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