DOJ Reclassifies Medical Marijuana from Schedule I to Schedule III — Major Federal Drug Policy Shift

Acting Attorney General Todd Blanche signed an order on April 23, 2026 reclassifying state-licensed and FDA-approved medical marijuana from Schedule I to Schedule III under the Controlled Substances Act — the most significant federal marijuana policy change since the drug was listed under Schedule I in 1970. The reclassification exempts cannabis companies from IRS Section 280E tax provisions (saving the industry ~$2B/year), expands research pathways, and opens banking access. Recreational marijuana remains federally illegal.