The Department of Justice reclassifies FDA-approved marijuana as less dangerous drug
By Mariam Sunny and Suzanne McGee
The Department of Justice reclassified FDA-approved and state-authorized marijuana as a less dangerous drug, said interim U.S. Attorney General Todd Blanche on Thursday.
This announcement does not legalize marijuana nationwide.
Blanche stated in a post on X that the Justice Department is “immediately reclassifying FDA-approved marijuana and state-authorized marijuana from Schedule I to Schedule III.”
In December, President Donald Trump signed an executive order instructing the federal regulation on marijuana to be relaxed, reclassifying it from Schedule I to Schedule III.
According to top administration officials, Mr. Trump’s order directed his Attorney General to quickly proceed with the reclassification of marijuana, a process that could result in the plant being listed as a less dangerous drug, alongside common painkillers like ketamine and testosterone.
This reclassification, which could be the biggest policy change in marijuana regulation since 1970, is likely to reshape the cannabis industry by reducing tax burdens, easing access to funding for businesses, and accelerating clinical research.
Cannabis-related companies such as Canopy Growth, Organigram Global, SNDL, Aurora Cannabis, Trulieve Cannabis, and Tilray Brands could benefit from this development.
Here’s what such a measure could mean for businesses.
Context:
– The article discusses the reclassification of FDA-approved marijuana by the Department of Justice, making it a less dangerous drug.
Fact Check:
– The content mentions a post on “X” where Todd Blanche’s statement can be found.
