US moves to reclassify marijuana as less dangerous
By Bernd Debusmann Jr
The US Drug Enforcement Administration plans to reclassify marijuana as a less dangerous drug, a historic shift in US drug policy.
At a federal level, marijuana is classified as a “Schedule I” drug, a category it shares with heroin, ecstasy and LSD.
Instead, it would be included among “Schedule III” drugs, which are considered less likely to be abused.
The move would be the most significant US drug policy change in over 50 years.
The Department of Justice sent its proposal to the White House Office on Management and Budget (OMB) on Tuesday, the department confirmed in a statement.
Once the proposal is published in the US federal register, a public comment period will begin, after which it will be reviewed by an administrative judge before the change is formalised and published.
While marijuana, more widely known as cannabis, remains illegal at the federal level, 38 individual states have legalised it for medical purposes, and 24 have legalised it for recreational use.
The announcement sent the share prices of US cannabis industry companies soaring by between 15% and 67%. Canadian firms also enjoyed large rises.
