WASHINGTON (AP) — The Justice Department on Thursday formally moved to reclassify marijuana as a less dangerous drug in a historic shift in generations of...
A proposed rule sent to the federal register recognizes the medical uses of cannabis and acknowledges it has less potential for abuse than some of the nation’s most dangerous drug s.The Drug Enforcement Administration will take public comment on the proposal to move marijuana away from its current classification as a Schedule I drug, alongside heroin and LSD. It moves pot to Schedule III, alongside ketamine and some anabolic steroids.
Biden and a growing number of lawmakers from both major political parties have been pushing for the DEA decision as marijuana has become increasingly decriminalized and accepted, particularly by younger people. Still, the DEA has not yet formed its own determination as to where marijuana should be scheduled, and it expects to learn more during the rulemaking process, the document states.
Federal drug policy has lagged behind many states in recent years, with 38 states having already legalized medical marijuana and 24 legalizing its recreational use. That’s helped fuel fast growth in the marijuana industry, with an estimated worth of nearly $30 billion. -- Crescent Energy Inc. agreed to buy SilverBow Resources Inc., a rival oil and gas producer that’s in a proxy fight with its largest shareholder, for $2.1 billion.
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