HHS Urges DEA to Reschedule Marijuana for Lower-Risk Category

The U.S. Department of Health and Human Services (HHS) has recommended reclassifying marijuana as a lower-risk drug, which would ease restrictions on the cannabis industry. Currently classified as a Schedule I drug, alongside heroin and LSD, marijuana's federal classification has hindered its growth and limited access to banking services. The HHS has called for marijuana to be reclassified as a Schedule III drug, which has a moderate to low potential for dependence. The Drug Enforcement Administration (DEA) will now review the drug and has the final authority to reschedule it. The news has led to a surge in cannabis stocks, as investors anticipate potential market expansion.