It is with a real sense of gratitude that the Drug Enforcement Administration and the Biden administration decided to continue this flexibility that's now been in place for almost half a decade so that we can continue to take the time to get the permanent framework right. ... It was going to be calamitous if we were going to allow for this flexibility to expire December 31 this year.
The Drug Enforcement Administration announced in early 2024 that it would act on President Joe Biden's call to reclassify marijuana, moving it from the tightly controlled Schedule I category that it has been in since 1970 to the less restrictive Schedule III status of the Controlled Substances Act. These changes follow a significant historical trajectory, striking a pivotal balance between public sentiment and scientific evaluation surrounding marijuana use.