President Trump has announced that his administration is considering reclassifying marijuana as a less dangerous drug, following the Biden administration’s efforts to make it a Schedule III drug in 2024. A Schedule III designation would not legalize marijuana but would reduce criminal penalties, open new research opportunities, and allow pharmaceutical companies to participate in the sale and distribution of marijuana where it is legal. The Wall Street Journal reported that Trump told donors he was considering reclassifying marijuana after industry groups paid millions of dollars to Trump’s political groups. Since 1971, marijuana has been a Schedule I drug, with no accepted medical use and high potential for abuse. Schedule III drugs include ketamine, anabolic steroids, testosterone, and Tylenol with codeine. The cannabis industry revenue is projected to reach $34 billion this year, making eliminating the tax burden for businesses a boon.
Trump is considering reclassifying marijuana as a less dangerous drug. HoangMySpa 154
