The Biden administration could once again make marijuana moves in time for an election.
Biden's Health and Human Services department has sent a letter to the Drug Enforcement Agency asking for marijuana to be reclassified from a Schedule I to a Schedule III drug under federal law.
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The move, if completed, would have major implications for the marijuana industry and, potentially, for Biden's reelection bid.
Biden announced the schedule review along with a series of marijuana-related pardons last October, in time for the midterm elections. Industry advocates say the rescheduling could be finalized roughly one year from now, which means it would happen in time for the presidential contest.
"I think the administration wanted this to be done before the presidential election so they can see it through and it couldn't be derailed by a new administration," said Kris Krane, director of cannabis development for KCSA strategic communications. "And I think this will be quite a popular move."
The timing indicates that President Joe Biden thinks it will be a popular move too.
Biden has historically taken a strong anti-weed stance. As a senator, he helped pass the 1994 crime bill that included mandatory minimum sentences for marijuana possession. Reports surfaced in March 2021 that he had fired five White House staffers over their marijuana use, which was later confirmed by press secretary Jen Psaki.
But he's since changed to a position more in line with the modern Democratic Party as 23 have legalized recreational marijuana and 38 allow it for medical use.
The impact of such a change on young voters was apparent last year when Biden visited the University of Pennsylvania campus days after announcing the schedule review. A crowd gathered as he was strolling the campus, and two men repeatedly yelled out, "Yo Joe! Legalize that weed!"
Moving to Schedule III would not legalize the drug at the federal level but would make it easier to own and operate a marijuana-based business and to conduct cannabis research. Businesses could deduct expenses on their taxes, for example, and could find it easier to use traditional banking and lending services. It could also pave the way to a future move toward full descheduling.
"It's absolutely better than schedule I," Krane said. "The federal government is officially recognizing that cannabis has medicinal value and does not have a high potential for abuse."
Cannabis company stocks posted enormous gains following the news.
The agencies involved are being tight-lipped so far. White House press secretary Karine Jean-Pierre was asked about the move and pointed back to the HHS and DOJ.
"The administrative process is an independent process, led by HHS, led by the Department of Justice, and guided by evidence," she said. "I'm not going to comment on that."
HHS did not respond to a request for comment from the Washington Examiner. An unnamed DEA spokesperson acknowledged receiving a letter from HHS and said the agency "will now initiate its review."
A Pew Research poll conducted last year found that 88% of respondents support legalizing marijuana for medicinal use, along with 59% who support full legalization. Fully 73% of Democrats support full legalization, compared to 45% of Republicans.
Some GOPers responded to last year's moves by calling it a naked ploy to secure votes.
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"This move maybe makes sense in individual cases," Ohio Attorney General Dave Yost posted on X, formerly Twitter. "But Biden’s blanket pardon 34 days before an election is the most political, cynical abuse of the pardon power in history."
Those complaints could be repeated this time around.