Biden health officials say marijuana should be rescheduled, report says

(This is a developing story and will be updated.)

Top U.S. health regulators have told the Biden administration that marijuana should be rescheduled under the federal Controlled Substances Act, a move that would usher in major tax changes and other benefits for the nation’s legal cannabis industry.

The recommendation to move cannabis from Schedule 1 to Schedule 3 of the CSA – made in a letter sent to the Drug Enforcement Administration on Tuesday and first reported by Bloomberg News – is nonbinding and must be approved by the attorney general in order to take effect.

But if…