Biden is racing to shift marijuana policy, courting young voters

The biggest difference is that scientists and doctors could more easily study the drug for medical uses, something that is now practically banned. Such a change could open the door for greater acceptance. It also would lower tax burdens for the industry in states where it is legal, by allowing deductions for ordinary business expenses that are currently prohibited by the Internal Revenue Service.

Other potential changes are less certain. Banks and credit card issuers, for instance, would not immediately lift restrictions on marijuana transactions, though that could come if regulators in the Treasury Department decide to take up the issue, according to Shane Pennington, an attorney specializing in the Controlled Substances Act who has industry clients.

Biden proposed reviewing marijuana's status in October 2022, a process that usually takes an average of more than nine years, Pennington said. The Department of Health and Human Services recommended Schedule III in August, the first step toward a change. A DEA spokesperson, in an email, said the agency would not discuss the issue while it is under review.

"It often takes a very long time, but we're in unprecedented territory here" because the order came directly from the president, Pennington said.

Harris, in her roundtable discussion on marjuana reform, showed her impatience.

"I cannot emphasize enough that they need to get to it as quickly as possible, and we need to have a resolution based on their findings and their assessment," she said.

The rushed nature of the process could expose the administration's actions — which are almost certain to draw lawsuits — to further scrutiny.

Kevin A. Sabet, a former marijuana policy advisor in the Obama administration who heads an anti-legalization group, noted that Biden's Health and Human Services Department released its preliminary recommendation at 4:20 p.m., slang for weed smoking time, underscoring the political nature of a normally button-down regulatory process. He argued that the decision was poorly crafted and could run afoul of U.S. treaty obligations.

But Sabet also agrees with advocates that Biden could have gone further.

"I think what the president wants to do is reap some of the benefits of the guy who's embracing all this stuff without actually becoming in favor of legalization," said Sabet, who heads the group Smart Approaches to Marijuana.