The US Department of Justice has announced a significant shift in drug policy, heading to reclassify specific marijuana products as less dangerous and simplifying limitations on their use.
Under the decision, FDA-approved and state-regulated medical marijuana will be reclassified from highly addictive substances to drugs with low to moderate abuse potential.
Acting Attorney General Todd Blanche stated the government will also fast-track efforts to move as marijuana from a Schedule I classification to Schedule III under federal law.
This would place the drug alongside ketamine and testosterone, instead of heroin, expanding research opportunities, minimising tax loads, and enhancing access to funding for cannabis companies.
The transition in policy occurs after orders from US President Donald Trump to review federal marijuana restrictions.
However, marijuana still remains illegal nationwide.
Major industry leaders such as Canopy Growth and Tilray Brands saw significant growth after the announcement, reflecting optimism regarding the sector’s future.
Experts stated the reclassification could align federal policy with evolving state laws, where cannabis is legal in several forms across most of the US.
A formal hearing on the wider reclassification is likely to start on June 26.
