The Biden administration wants to reclassify marijuana from Schedule I to Schedule III under the Controlled Substances Act. The proposed change will need to go through a formal rule-making process which includes interagency reviews, public input and regulatory analysis. According to the Drug Enforcement Agency (DEA), Schedule I drugs have no currently accepted medical use and a high potential for abuse. Those drugs include heroin, LSD and ecstasy. Schedule III drugs are those with a moderate to low potential for physical and psychological dependence, including ketamine, anabolic steroids and testosterone. The White House said this effort is a step toward…