US Eases Marijuana Restrictions, Moves Toward Reclassification
The United States is moving ahead with one of the most significant shifts in drug policy in decades, as the Department of Justice announced an immediate easing of restrictions on certain marijuana products while accelerating the reclassification process.
Under President Donald Trump, approved products and medical marijuana are to be moved from the most restrictive category to one with a lower risk of abuse.
In practice, this would move marijuana from the most restrictive category, alongside substances such as heroin and LSD, to a lower-risk classification that includes drugs such as ketamine and some painkillers. Acting Attorney General Todd Blanche said the move is intended to facilitate research into medical uses and improve patient access.
The change is expected to have a significant impact on the cannabis sector, reducing the tax burden, easing access to financing and encouraging market growth. The market could reach an estimated $47bn this year. Shares in several cannabis companies rose following the announcement.
However, marijuana remains illegal at the federal level, although it is permitted in many states in at least some form.