The Justice Department officially proposed a new rule on Thursday that would reclassify marijuana as a Schedule III drug, a policy move that would ease restrictions on cannabis on the federal level if ultimately approved. 

While the rescheduling of marijuana would neither make the substance legal nor decriminalize it across the nation, changing the classification from its current Schedule I status to Schedule III would bring the drug into regulatory parity with other substances, like ketamine and anabolic steroids.