US Dept HHS asks DEA to downgrade Marijuana to Schedule III

Morning Brew today outed HHS as an advocate for the marijuana industry. They may deny it, but methinks the stockmarket response tells the truth of the matter.

Prove me wrong!

Health officials urge reclassification of marijuana as a lower-risk drug. Leaders at the Department of Health and Human Services urged the Drug Enforcement Administration to ease restrictions on marijuana in a letter viewed by Bloomberg. Weed is currently considered a Schedule I substance under the Controlled Substances Act, putting it in the same category as LSD and heroin, but the letter said it should be changed to a Schedule III substance, like pain medications and testosterone. This would not legalize the drug, as many states have done, but it would bring down some of the barriers the cannabis industry is facing, such as being barred from banks, so stocks in the industry rose on the news.