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What will change with the US reclassification of marijuana?

The reclassification will make it easier for researchers to obtain funding for clinical trials and for pharmaceutical companies to apply for FDA approval.

FILE PHOTO: A venture capital booth is seen at the Cannabis World Congress and Business Exposition, a trade show for the legalized adult use, medical marijuana and industrial hemp industries, in Los Angeles, California, U.S., September 15, 2017. / REUTERS/Lucy Nicholson/File Photo

U.S. President Donald Trump has signed an executive order demanding a speedy reclassification of marijuana that would ease federal restrictions on research that could lead to new medical marijuana products.

Here is what you need to know:

WHAT DOES THE EXECUTIVE ORDER DO?

Under the U.S. Controlled Substances Act, marijuana has been listed as a Schedule I substance like heroin, implying it has high potential for abuse and no medical value. The new executive order moves it to the Schedule III classification that includes controlled substances such as codeine, ketamine, certain stimulants, and some forms of steroids. 

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