Summary
The Justice Department proposal would recognize the medical uses of cannabis. It wouldn’t legalize it for recreational use. The proposal must be reviewed by the White House Office of Management and Budget. The switch is considered “paradigm-shifting, and it’s very exciting,” an expert says.
Rescheduling wouldn’t directly affect another marijuana business problem: difficulty accessing banks. The industry has been looking instead to a measure called the SAFE Banking Act. Some legalization advocates say rescheduling weed is too incremental. They want to keep the focus on removing it completely from the controlled substances list.
