US reschedules medical marijuana from Schedule I to Schedule III

Acting Attorney General Todd Blanche has signed an order reclassifying state-licensed medical marijuana from Schedule I to Schedule III under the Controlled Substances Act, fulfilling a December executive order by President Donald Trump. The policy shift means medical cannabis is now considered to have a moderate to low potential for physical and psychological dependence, rather than no medical use and high abuse potential. The change removes marijuana from the same category as heroin and MDMA and places it alongside substances like steroids, ketamine, and acetaminophen. The reclassification does not legalize marijuana at the federal level or change recreational use rules, but it significantly alters the regulatory landscape by recognizing the therapeutic value of cannabis. This move largely legitimizes medical marijuana programs in the approximately 40 US states that have adopted them, allowing state-licensed producers and distributors to register with the DEA. The Department of Justice is also studying a "fast-track analysis" that could lead to broader reclassification of marijuana. Trump announced the change in the Oval Office surrounded by patients, a retired military member in uniform, doctors in white coats, and cannabis industry entrepreneurs. The president stated the measure would benefit those suffering from incurable conditions, aggressive cancers, seizures, neurological disorders, and elderly patients with chronic medical conditions. The decision removes barriers for medical research into marijuana applications and could transform the industry by reducing tax burdens on cannabis products, potentially benefiting major companies in the sector, including Canopy Growth, Tilray Brands, and Trulieve Cannabis.