Cannabis stocks rally on the news of the Department of Health (HHS) recommendation. Alex Coffey discusses this, highlighting …
The US Department of Health and Human Services (HHS) has recommended that cannabis be rescheduled, potentially allowing for increased medical research and access to the drug. This recommendation comes as part of a broader review of current drug policies by the Department, which acknowledges that the current Schedule I classification of cannabis, along with drugs like heroin and LSD, hinders research on the potential therapeutic benefits of the drug. Rescheduling cannabis, which is currently classified as a controlled substance with no accepted medical use, would require approval from the Drug Enforcement Administration (DEA). While the DEA has previously rejected similar rescheduling petitions, this new recommendation from the HHS could signal a shift in attitudes towards the drug and pave the way for future policy changes surrounding cannabis.
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