The US presents a proposal to reduce restrictions on marijuana

The United States Department of Justice unveiled on Thursday a historic proposal to ease restrictions on marijuanaa rule that, if enacted, would also allow more research into its medicinal benefits.

The proposal, first announced in April, would reclassify cannabis from so-called schedule one to schedule three. Schedule one drugs, such as heroin, are considered highly addictive with no medical benefits, while schedule three drugs have moderate to low physical and psychological dependence potential.

The U.S. Food and Drug Administration said it found “some credible scientific support for the use of marijuana in the treatment of chronic pain, anorexia related to a medical condition, and nausea and vomiting.”

“Further, no safety concerns were identified in the FDA’s review that indicated that the medical use of marijuana poses unacceptably high safety risks,” the proposal says.

President Joe Biden, a Democrat running for re-election in November, launched a review of the drug’s scheduling in 2022, fulfilling a campaign promise that was important to left-wing members of his political base.

The drug currently belongs to the Drug Enforcement Administration (DEA) class that includes heroin and LSD. You would move to a group containing ketamine and Tylenol with codeine.

The reclassification of marijuana represents a first step toward bridging the chasm between state and federal cannabis laws. The drug is legal in some form in nearly 40 states.

Although reclassifying the drug does not make it legal, it would open the doors to greater research and medical use, help potentially reduce criminal penalties, and increase investment in the cannabis sector.

If marijuana classification were relaxed at the federal level, cannabis companies could reap significant benefits, such as being able to list on major stock exchanges and more generous tax deductions.

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