Biden Administration Plans to Reclassify Marijuana – Corporate Greed Looms Over Cannabis Industry

Breaking: Biden Administration Plans to Reclassify Marijuana – Corporate Greed Looms Over Cannabis Industry

In a move that has sparked widespread debate, President Biden's administration has announced plans to reclassify marijuana from a Schedule I to Schedule III drug. While this reclassification acknowledges the medical benefits of cannabis and its lower potential for abuse, it has raised significant concerns. Critics argue that this change will pave the way for big pharmaceutical companies to dominate the industry, stifling small businesses and local growers with corporate greed.

Additionally, the administration's continued use of the term "marijuana" instead of "cannabis" is seen as a step back, given the term's historical ties to racial discrimination against Black and brown communities. This reclassification doesn't address the root issue of descheduling cannabis entirely, a move that would align its regulation more closely with substances like alcohol and tobacco, which are not on the controlled substances list despite their known risks.

The involvement of Vice President Kamala Harris, who has a controversial history of incarcerating individuals for small cannabis possession during her tenure as San Francisco's district attorney, adds another layer of complexity to the administration's decision.

President Biden states, "Today, my administration took a major step to reclassify marijuana from a schedule one drug to a schedule three drug. Look folks, no one should be in jail merely for using or possessing marijuana, period."

This announcement from the Justice Department has significant implications for the future of cannabis regulation and the balance of power within the industry.


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