DEA Proposes Reclassification of Marijuana to Schedule III

This significant policy shift opens a 62-day public comment period, potentially easing regulations but not legalizing recreational use.

The DEA's proposal to reclassify marijuana from Schedule I to Schedule III is now open for public comment until July 22.
The change would recognize marijuana's medical uses and reduce regulatory barriers but does not legalize it for recreational use.
If reclassified, marijuana businesses could benefit from tax deductions currently unavailable under Schedule I.
The move aligns with President Biden's efforts to address longstanding inequities in marijuana policy.
The final decision on rescheduling will follow a review of public comments and possibly a public hearing.