US President Donald Trump announced this week that his administration is considering easing federal restrictions on marijuana and reclassifying it as a less dangerous drug.
“We are looking at that,” Trump told reporters after being asked about considering an executive order on the issue. “A lot of people want to reclassify marijuana because it allows for a tremendous amount of research to take place that can’t take place unless it is reclassified, so we are looking at it very seriously.”
Currently, at the federal level, marijuana is classified as a Schedule I substance, the same category as heroin and LSD. The government deems these drugs to have a high potential for abuse and no medical use.
President Trump is aiming to move marijuana to Schedule III. This class includes substances considered to have medical value and a lower potential for abuse. Ketamine and anabolic steroids are included in this class.
Reclassification would not mean legalization or decriminalization, but easing federal restrictions could lead to significant changes:
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Reduced Research Barriers: Authorizing clinical studies on Schedule I substances requires navigating many steps.
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Tax Implications: Significant tax changes for companies that legally grow and sell cannabis.
The president cannot unilaterally reclassify a drug. Trump is reportedly set to sign an executive order directing federal agencies to begin the reclassification process.
President Joe Biden’s administration had also sought reclassification, but those attempts were delayed and had not been completed before Trump took office.
