Trump administration moves to reclassify cannabis in major shift that could expand research

the trump administration moved thursday to reclassify cannabis from schedule i to schedule iii under federal law. the change does not legalize the drug federally but shifts its status under the dea's controlled substances framework. schedule i drugs like heroin are considered to have no accepted medical use; schedule iii drugs like tylenol with codeine are recognized as having medical applications. the department of justice said it will immediately move fda-approved products containing marijuana and items regulated by state medical marijuana licenses to schedule iii. it also announced an expedited hearing in june to consider formal reclassification. the doj said the actions "provide immediate and long-term clarity to researchers, patients, and providers alike." the reclassification exempts cannabis companies from irs code section 280e, allowing them to deduct standard expenses like rent and payroll. tilray ceo irwin simon said the move is "about people: patients fighting cancer, seniors managing chronic pain, veterans navigating ptsd, and children with epilepsy." the action follows an executive order last year and a 60-day public comment period started under the biden administration. it comes days after trump signed an executive order on psychedelics to accelerate research and clinical trials for drugs like psilocybin and mdma.