U.S. to Reclassify Marijuana in Groundbreaking Policy Shift

The United States administration is reportedly planning to reclassify marijuana as early as Wednesday, according to a source quoted by Axios. This anticipated move would signify a historic alteration in federal marijuana policy, clearing obstacles for research into the drug's potential applications.

In December, President Donald Trump signed an executive order necessitating the easing of federal regulations concerning marijuana, setting the stage for its reclassification. If reclassified, marijuana may be grouped with less hazardous substances like common painkillers, ketamine, and testosterone, potentially transforming the cannabis sector by reducing tax obligations and simplifying funding acquisition for companies such as Canopy Growth, Tilray Brands, and Trulieve Cannabis.

The Justice Department and the Drug Enforcement Administration have yet to comment. The DEA holds the power to reclassify marijuana, the most commonly used illicit drug both worldwide and within the United States, where a CDC report indicates nearly 20% of residents use it annually, as noted by Reuters in December.