The Federal Cannabis Policy is now official: Announces the U.S. President
On the historic day of May 16, 2024, US President Joe Biden officially announced that the Justice Department of the country would reclassify Marijuana to help the failed war on Cannabis. Moving the class from Schedule l, that is reserved for dangerous drugs with no medical usage, to Schedule lll, reserved for drugs with high medicinal value.
During early May 2024, the US Drug Enforcement Agency made a remarkable announcement on medical usage of drugs. In the new additions of Schedule lll drugs, they possess a moderate to low potential for physical, and psychological dependence and have a currently accepted medical usage. The news follows a historic announcement on April 30, that the U.S. Drug Enforcement Admiration (DEA) will reschedule Marijuana under Schedule lll.
Cannabis has been legalised in 38 out of 50 states in the United States. For it's medicinal values, Cannabis is accepted as a Schedule lll drug by the U.S. Drug Enforcement Admiration (DEA). At the federal level, Marijuana has been scheduled as a class of Schedule l drug under the Controlled Substance Act. For its high potential of abuse and no acceptance in medical usage, prohibiting its use for any purpose. Despite having such restrictions on the usage of Marijuana, federal law can generally not enforce against the possession, cultivation, or instate activities where Marijuana has already been legalised. On May 2024, the Associated Press submitted a report on federal plans to reschedule Marijuana from Schedule l to Schedule lll drug.
"It's time that we right these wrongs," Says the President
"This is monumental", states Biden in a video posted on X regarding the reclassification of Cannabis class to Schedule lll.
President Biden says, "Today, my administration took a major step to reclassify Marijuana from a Schedule l drug to a Schedule lll drug. It's an important move towards reversing longstanding inequalities."
"As I said when I ran for president, no one should be in jail just for using or possessing Marijuana. It's already legal in many states, and criminal records for Marijuana possession have led to needless barriers to employment, housing, and educational opportunities." States President Biden.
"While white, black, and brown people use marijuana at similar rates. Black and Brown people are arrested, prosecuted, and convicted at disproportionately higher rates."
He continues, "So today, I'm taking three steps to end this failed approach. First, I'm announcing a pardon for all prior federal offenses for the simple possession of Marijuana. There are
Thousands of people who are convicted of marijuana possession may be denied employment, housing, or educational opportunities as a result of that conviction. My pardon will remove this burden on them.
Biden adds, "Second, I'm calling on all governors to do the same for state marijuana possession offences."
Lastly, he proposes, "Third, the federal government currently classifies marijuana as a Schedule l substance the same as heroin and LSD and more serious than fentanyl."
He consoles, "Too many lives have been upended because of our failed approach to marijuana. It's time that we right these wrongs."
“Currently, marijuana is classified on the same level as heroin and more dangerous than fentanyl,” Kamala Harris said in another video.
The Vice President continues, “We are finally changing that. But I want to thank all the advocates and everyone out there for helping make this possible. We are on the road to getting it done.”
Industrial Overview
Several industrial leaders have pointed out that the legalization of marijuana and rescheduling of the class from Schedule l to Schedule lll substance will not vindicate the dissonance between federal law and dozens of medical adult-use cannabis laws at the state level.
While there is still work to be done, Caleb Counts, CEO and Co-founder, Connected Cannabis, says that he is optimistic about what this means in terms of a domino that needed to fall in order for the wave to come that we’ve all been waiting for and working towards for so long. He also adds, “Rescheduling is a step in the right direction without question, and while it isn’t at the stage of descheduling, it’s still impactful for so many people, and that doesn’t go unnoticed. Loosening taxes and regulations where customers benefit is always a win in my book.”
“While a great step for the industry, the truth is, most of our operational challenges remain,” said Roger Volodarsky, Founder and CEO of Puffco.
“A lot of people think that moving cannabis from Schedule I to Schedule III will drive additional research in the space, but the reality is that it’s more complicated than that. In late 2022, the Medical Marijuana Expansion Research Act was passed, which essentially says that regardless of the scheduling of cannabis, the DEA still holds the final ruling of who’s allowed to research the plant and where those research materials are coming from. So, while a move to Schedule III is a huge step forward in protecting our freedoms in this industry, we are still at the mercy of policymakers. Ultimately, the goal is a complete rescheduling of the plant, and until that happens, our fight is not over.”
Rescheduling of Cannabis from Schedule l to Schedule lll substance has raised many questions among the critics. This marks a huge step forward for federal Cannabis policy reforms in the states of U.S. This action will bring a massive impact on the history of Federal Legislation policies.