Trump administration Attorney General Jeff Sessions once stated (without a hint of facetiousness): “Good people don’t smoke marijuana.”

Boy, has the political climate toward marijuana changed.

Representing a big turnaround in federal drug policy, the U.S. Drug Enforcement Administration (DEA) and National Institute on Drug Abuse (NIDA) last week announced that they’re in favor of a White House proposal to expedite the research of Schedule I drugs such as marijuana, and even psychedelics such as LSD and psilocybin.

The agencies last week testified at a House Energy and Commerce subcommittee hearing, asserting support for a streamlined research plan put forth by the Office of National Drug Control Policy (ONDCP).

“It is critical that the scientific and medical community study Schedule I substances, as some may turn out to have therapeutic value,” DEA Principal Deputy Administrator Louis Milione told lawmakers. “DEA supports the administration’s legislative proposal’s expansion of access to Schedule I research. DEA looks forward to continuing to work with the research community and our interagency partners to facilitate Schedule I research.”

The following tweet, posted December 6, reflects the resulting excitement among individual investors in the marijuana and psychedelics industries:

The Biden administration proposes to dovetail research requirements for Schedule I drugs with those of less-restricted Schedule II drugs. Scientists have repeatedly emphasized that existing rules for studying Schedule I controlled substances are onerous and hampered by red tape.

Instead of compelling each scientist involved in a Schedule I drug study to obtain DEA registration, ONDCP seeks to allow multiple researchers at a given institution to participate under a single registration. The White House also proposes a policy change whereby a research institute with studies occurring over multiple locations must only obtain a single universal registration rather than a separate one for each site.

Another change would allow researchers to proceed with their studies after submitting a notification to the Department of Justice, instead of waiting for officials to officially sign off on their proposals. ONDCP’s plan also would waive the requirement for additional inspections at research sites and allow researchers to manufacture small amounts of drugs without obtaining separate registrations.

NIDA Director Nora Volkow asserted in her testimony: “Even experienced researchers have reported that obtaining a new Schedule I registration, adding new substances to an existing registration, or getting approval for research protocol changes is time consuming.”

Unlike for Schedule II through V substances, new and amended Schedule I applications are referred by the DEA to the Department of Health and Human Services for a review of the protocol and a determination of the qualifications and competency of the investigator.

Read This Story: Feds Further De-Escalate The War on Drugs

Drugs, substances, and certain chemicals used to make drugs are classified by the DEA into five distinct schedules (i.e., categories) depending on the drug’s acceptable medical use and the drug’s abuse or dependency potential.

Schedule I drugs aren’t considered safe by the federal government, even under medical supervision. Heroin, peyote, marijuana, and various psychedelics (e.g. LSD and psilocybin) fall into Schedule I, under the Controlled Substances Act (CSA). The CSA was passed in 1970 and became a cornerstone in the now-discredited War on Drugs.

Some examples of Schedule II drugs are Vicodin, cocaine, methamphetamine, methadone, Dilaudid, Demerol, OxyContin, fentanyl, Dexedrine, Adderall, and Ritalin.

Prohibition’s days are numbered…

When the feds give an enthusiastic nod to research into marijuana and psychedelics, you know that federal legalization of these substances is only a matter of time.

As an investor, always be proactive. Pot, magic mushrooms, and even LSD are going mainstream. You should invest before the lifting of federal bans against these increasingly popular substances.

I’ve just described trends that are generating tailwinds for publicly traded marijuana and psychedelics companies. Looking for ways to profit? Click here for our free report.

John Persinos is the editor-in-chief of Marijuana Investing Daily. You can reach him at: mailbag@investingdaily.com. To subscribe to his video channel, follow this link.