The Justice Department (DOJ) has rescheduled certain marijuana products, signaling a notable policy shift after decades of strict federal control. Acting AG Todd Blanche announced that cannabis products approved by the FDA or authorized under state medical cannabis programs will be moved from Schedule I to Schedule III.
This adjustment places them alongside medications such as codeine-based pain relievers, reflecting a lower perceived risk and recognized medical use.
Blanche also directed officials to begin a formal review that could lead to broader changes, including the possible reclassification of cannabis in its entirety. A public hearing has been scheduled for June as part of that rulemaking process.
The move follows earlier direction from President Donald Trump, who last year instructed the DOJ to explore reclassification in an effort to expand access for patients and encourage further scientific study. While federal law still prohibits marijuana, most states have adopted their own policies permitting recreational or medical use.
The proposed update will not take effect immediately. Once published in the Federal Register, it will enter a 30-day period during which legal challenges may be filed. Such challenges are widely expected and could delay implementation for an extended period.
The development comes shortly after another policy move by Trump, who signed an executive order aimed at expanding access to psychedelic therapies for medical use.
Cannabis has been classified as a Schedule I substance since 1970. Over time, however, many states began loosening restrictions, starting with early adopters like California, which approved medical marijuana decades ago. The divergence between state and federal rules has created complications for businesses operating in the industry, particularly when it comes to banking and taxation regulations.
A previous review under former President Joe Biden began in 2022, when federal health officials were asked to reassess marijuana’s classification. The Drug Enforcement Administration later initiated proceedings to examine the issue further, though hearings were eventually postponed.
Advocacy groups have reacted cautiously. NORML’s Morgan Fox described the shift as largely symbolic, though still important. He noted that moving cannabis out of Schedule I could change how policymakers approach the topic, making it easier to have substantive discussions about reform.
According to Fox, a clear majority of Americans now support full legalization. Still, he and other advocates argue that reclassification alone does not go far enough. They continue to call for the complete removal of cannabis from federal scheduling, along with clearer regulatory frameworks that would align federal and state laws.
It remains to be seen whether this recent policy change will have tangible benefits to companies like Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) or broader reforms are the only way to ease the regulatory bottlenecks that marijuana firms have had to deal with.
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