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Biden, a Democrat, supports legalizing medical marijuana for use “where appropriate, consistent with medical and scientific evidence,” White House press secretary Karine Jean-Pierre said Thursday.
The AdvisorShares Pure US Cannabis ETF , which tracks shares of cannabis companies, jumped over 25% on April 30 after the news broke but pared those gains in the following week.
The Biden administration plans to reclassify marijuana for the first time since the Controlled Substances Act was enacted more than 50 years ago.
The Florida Medical Marijuana Legalization Initiative, also known as Amendment 2, was on the November 8, 2016, ballot in Florida as an initiated constitutional amendment. The amendment was approved by 71.32% of the vote making it the highest percentage win in 2016 of any other state cannabis ballot in the United States.
The proposed reclassification of cannabis from Schedule I to Schedule III could usher in transformative changes. It would pave the way for advanced research, facilitate the development of safe and effective treatments for chronic and hard-to-treat conditions, and significantly improve the quality of life for patients.
The President made descheduling and other cannabis reforms a topic of the 2024 State of the Union Address; [2] it was the first time the word "marijuana" had been used in a State of the Union Address since Ronald Reagan called it a target of the War on Drugs alongside cocaine in 1988. [3]
HOUSTON, Jan. 13, 2025 (GLOBE NEWSWIRE) -- CBIH is proud to announce that Brian Cuban, Esq., a distinguished attorney, best-selling author, mental health advocate, and esteemed member of our Advisory Board, has officially joined the Reclassification Team. Mr. Cuban will play a crucial role in representing CBIH at the upcoming DEA hearings on marijuana rescheduling.
A cannabis plant grow room in the Eastern Band of Cherokee Indians' Great Smoky Cannabis Co. dispensary in Cherokee, North Carolina. April 20, 2024. Marijuana is not legal for recreational use in N.C.