President Trump on Thursday signed an executive order directing the federal government to reclassify marijuana as a Schedule III substance, marking a major milestone in American drug policy and choosing sides in the debate between advocates for more research and drug policy hawks.
Under the new classification, marijuana will remain an illegal drug under federal law. However, this reclassification could facilitate additional research into cannabis, as federal officials have indicated. This shift may also enhance the marijuana industry by allowing access to major tax breaks that were previously prohibited under the substance’s current classification. As the pharmaceutical sector continues to explore the therapeutic potential of cannabis, this change could lead to increased investment and innovation in cannabis-related research and development, ultimately broadening access to cannabis-derived products for patients.
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