A D.E.A. proposal would move marijuana from its current classification as a schedule one drug to a schedule three drug.
This change could have the potential to benefit the cannabis industry in Nevada.
"It's a step that gives us the ability to procure banking, elimination of over taxation because ultimately we, as a regulated industry, are at a disadvantage based on taxes, based on testing, and all the other requirements," said Ed Alexander, Founder of SOL Cannabis.
Alexander also added that rescheduling could help combat the illegal market, by giving people more access to safer laboratory tested products.
The D.E.A. proposal still has to be reviewed by the White House Office of Management and Budget.
The American Civil Liberties Union argues that marijuana should not be scheduled at all in states that have legal cannabis businesses, such as Nevada.
"To say that we are going to recreationally approve something for use, but it still needs to be scheduled right, like that is an inconsistency and the reality is that if we are to view this as a lawful and legitimate industry, because it is, and we've been doing for some number of years, it makes no sense to have it, makes no sense to have it scheduled, period," said Athar Haseebullah, Executive Director for the American Civil Liberties Union.
If the Office of Management and Budget signs off, the D.E.A. will take public comment before publishing their final rule.
