Once criminalized nationwide by the Marihuana Tax Act of 1937, cannabis is now legal in some form across most U.S. states, with many authorizing medical use and a growing cohort permitting recreational sales. Yet federal law still classifies marijuana as a Schedule I drug under the Controlled Substances Act, creating a clash between Washington and state capitals.

This evolving legal landscape is reshaping healthcare and insurance markets, as studies link medical cannabis access to lower prescription use and reduced opioid-related deaths, even as emergency rooms report more cannabis-related incidents and pediatric poisonings. Meanwhile, the Drug Enforcement Administration has proposed moving marijuana to Schedule III, and President Donald Trump has ordered the Justice Department to expedite rescheduling, a step that could further normalize the industry.

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