A worker sets up Florist Farms cannabis products on the first day of legal recreational marijuana sales at the Housing Works Cannabis Co. in New York, on Thursday, Dec. 29, 2022.Jeenah Moon | Bloomberg | Getty ImagesThis week, the Department of Health and Human Services asked the Drug Enforcement Agency to consider easing restrictions on marijuana upon a review of its classification under the Controlled Substances Act.It could be a significant catalyst for an industry hemmed in by federal regulations even as legalization picks up on the state level.Marijuana stocks were higher Wednesday on the news. Aurora Cannabis, Canopy Growth and Tilray Brands were among those to see jumps. They all jumped again Thursday.Since the 1970s, marijuana has been listed alongside heroin and LSD as Schedule I drugs, or substances that authorities say have no accepted medical use and a high potential for abuse. Today, marijuana has remained in this category – ranking higher than fentanyl, cocaine and methamphetamine – despite there being favorable momentum for pot in scientific research and state laws.The DEA will consider moving marijuana down to a Schedule III drug, alongside ketamine, anabolic steroids and testosterone as a substance that has moderate to low potential for physical or psychological dependence. The recommendation, however, will not de-schedule marijuana.Cultivation, production and sales would still be in violation of federal law. Marijuana is legal in 39 states medically and 23 states recreationally.What’s next for marijuana policy?As part of the recommendation process, HHS conducted a scientific and medical evaluation …
