US reclassifies certain marijuana products as a less-dangerous drug
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The decision to reclassify marijuana represents one of the most significant federal changes to marijuana policy in decades.
PHOTO: REUTERS
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The US Department of Justice is reclassifying Food and Drug Administration-approved and state-licensed marijuana as a less-dangerous drug, acting Attorney-General Todd Blanche said on April 23.
The announcement does not legalise marijuana across the United States.
In a post on X, Mr Blanche said the Justice Department was “immediately rescheduling FDA-approved marijuana and state-licensed marijuana from Schedule I to Schedule III”.
The department is also initiating an expedited hearing to consider the broader rescheduling of marijuana, it said in a statement.
The decision to reclassify marijuana represents one of the most significant federal changes to marijuana policy in decades, removing barriers to researching the drug’s potential use.
“This rescheduling action allows for research on the safety and efficacy of this substance, ultimately providing patients with better care and doctors with more reliable information,” Mr Blanche said in a statement.
The decision to reclassify marijuana represents one of the most significant federal changes to marijuana policy in decades, removing barriers to researching the drug’s potential use.
The move follows a December executive order from US President Donald Trump directing the Justice Department to loosen marijuana restrictions.
It will likely reshape the cannabis industry by lowering tax burdens and making it easier for firms to secure funding, benefiting companies like Canopy Growth, Tilray Brands and Trulieve Cannabis.
It will likely reshape the cannabis industry by lowering tax burdens and making it easier for firms to secure funding, benefiting companies like Canopy Growth, Tilray Brands, Trulieve Cannabis. US-listed shares of cannabis companies jumped following the decision. Shares of Cronos Group, Aurora Cannabis, Canopy, and Tilray jumped between 6 per cent and 13 per cent.
Marijuana has for years been classified at the same level as far more potent drugs like heroin even as nearly half of US states have moved to legalise cannabis over the last several years.
The Biden administration embarked on a similar move in 2024 but the measure was not finalised when Mr Trump returned to office. REUTERS
