Fed Plans to Reschedule Marijuana Will Mostly Benefit These 3 Cannabis Stocks – Medical Marijuana Program Connection

It’s been an excellent month for cannabis stocks and it’s not hard to see why. All evidence points to the fact that the federal government is considering rescheduling the recreational drug from Schedule I to Schedule III.

These “schedules” refer to the government’s classification of a drug’s severity with Schedule I being the highest. This puts it in the same category as heroin and LSD, a classification that many feel is inappropriate. I tend to agree. According to Scientific American, “experts say listing cannabis among the world’s deadliest drugs ignores decades of scientific and medical data.” Now, the arguments for loosening restrictions on cannabis may finally be working.

President Joe Biden has asked the U.S. Department of Health and Human Services (HHS) to review how marijuana is classified, implying that he believes it should be rescheduled. HHS has recommended a rescheduling, and now the decision rests with the DEA.

Historically, cannabis policy has been seen as a left-wing cause with Republicans strongly opposing it. But in what Bloomberg calls a “rare moment of progress,” rescheduling is garnering support from both sides of the aisle. Both Senate Majority Leader Chuck Schumer (D-NY) and Rep. Matt Gaetz  (R-FL) are in agreement that action should be taken to ease the current laws. This momentum is boosting cannabis stocks while the country…