The U.S. Department of Health and Human Services (HHS) has recommended that cannabis be moved from Schedule 1 to Schedule 3, potentially paving the way for legalization. Schedule 1 is for drugs with “no accepted medical use,” while Schedule 3 includes drugs with “potential for abuse.” The move could benefit the industry economically and impact criminal justice.
The recommendation, sent by HHS Assistant Secretary for Health Rachel Levine, now awaits an internal DEA review and a final decision by Attorney General Merrick Garland. Market reactions have been positive, with cannabis company stocks rising. Rescheduling might also alleviate tax burdens for cannabis companies and open the door for major stock exchange listings. However, the move falls short of full federal legalization.
“This administrative process was completed in less than 11 months, reflecting this department’s collaboration and leadership to ensure that a comprehensive scientific evaluation be completed and shared expeditiously,” an HHS spokesperson stated. The exact timing of the final decision remains uncertain, though experts speculate it might occur before the 2024 election. The move has garnered both industry and activist attention, offering potential economic benefits and reshaping the legal landscape for cannabis.
In short, this is a small step in the right direction but nothing monumental enough to start celebrating about. Nonetheless, we tip our hat to Rachel Levine in her pursuit to decriminalize our favorite plant.
