A new bill could remove cannabis from the controlled substances list for good.


According to ForbesH.R. 420 has been reserved as the number of the bill that could reschedule cannabis.


“While the bill number may be a bit tongue in cheek, the issue is very serious. Our federal marijuana laws are outdated, out of touch and have negatively impacted countless lives,” Rep. Earl Blumenauer, a Democrat from Oregon, said in a press release. “Congress cannot continue to be out of touch with a movement that a growing majority of Americans support. It’s time to end this senseless prohibition.”


As Motley Fool explains, the cannabis industry has been moving by leaps and bounds, but as long as cannabis remains a Schedule I drug, there will be blocks to research, sales, and commerce. If this passes, it would be a huge move for the cannabis industry.