President Donald Trump has directed his administration to work as quickly as possible to reclassify marijuana as a less dangerous drug.
Trump's executive order on Thursday does not legalize marijuana under federal law. And it's not the final word. The proposed change still requires federal regulatory approval.
But the change could make the marijuana industry more profitable, facilitate new research on medicinal uses and nudge federal policy closer to a more tolerant approach already in place in many states.
What's the federal policy on marijuana?
Possessing marijuana is a federal crime punishable by fines and prison time. Selling or cultivating marijuana is a more serious offense, punishable by prison sentences of five years to life, depending on the quantity of the drug. That would not change.
Rather, Trump is proposing to reclassify marijuana from a Schedule I drug, alongside heroin and LSD, to a less dangerous Schedule III substance, which includes such things as ketamine and some anabolic steroids.
The federal government defines a Schedule I drug as having no accepted medical use and a high potential for abuse. Schedule III drugs are defined as having moderate to low potential for physical and psychological dependence.
The U.S. Justice Department had proposed to reclassify marijuana under President Joe Biden, eliciting nearly 43,000 formal public comments. The Drug Enforcement Administration was still in the review process when Trump succeeded Biden in January, triggering a re-examination of the policy.