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Moneywise


ELON MUSK HAD TO BE DRUG TESTED FOR A WHOLE YEAR AFTER SMOKING WEED ON JOE
ROGAN’S PODCAST — AND NOW THE FDA IS THINKING ABOUT DEFINING MARIJUANA AS A
LOWER-RISK DRUG. HERE'S WHAT THAT MEANS

Read full article
170
Jing Pan
Mon, January 29, 2024 at 7:00 AM EST·3 min read


Elon Musk had to be drug tested for a whole year after smoking weed on Joe
Rogan’s podcast — and now the FDA is thinking about defining marijuana as a
lower-risk drug. Here's what that means

The most-watched episode of the Joe Rogan Experience podcast to date is episode
1169, featuring Tesla CEO Elon Musk. This particular episode garnered
significant attention, not only because viewers were eager to hear from the
serial entrepreneur about his latest ventures, but also because Musk did
something quite unconventional for a tech billionaire — he smoked weed on
camera.

Indeed, Musk's 2018 on-air act quickly became headline material for a variety of
news outlets, ranging from CNN and BBC to FOX Business. Furthermore, it ignited
a flurry of memes across social media platforms.


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   off strong

However, this stunt wasn't without consequences for Musk, who currently holds
the title of the world's richest person with a net worth of $204.1 billion.

During a 2022 interview on the "Full Send” podcast, Musk shared the aftermath of
his appearance on the Joe Rogan Experience, revealing, “The consequences for me
and for SpaceX were actually not good, because [weed] is federally illegal and
SpaceX had federal contracts.”

As a result, Musk found himself subjected to a series of drug tests.

“I had to have like random drug tests and stuff after that, to prove that I'm
not like a drug addict…They drug tested me for everything, and randomly… I had
like a whole year of random drug tests,” he elaborated.

In the U.S., the trajectory of cannabis legalization has seen considerable
advancement at the state level. By the time Musk took that infamous puff on
Rogan’s podcast in 2018, cannabis had already been legalized in multiple states.
However, on the federal front, marijuana was — and still remains — categorized
as a Schedule I substance under the Controlled Substances Act.

Story continues

Nonetheless, this status might soon be evolving.

Read more: This Pennsylvania trio bought a $100K abandoned school and turned it
into a 31-unit apartment building — how to invest in real estate without all the
heavy lifting


FROM SCHEDULE I TO SCHEDULE III?

The U.S. Food and Drug Administration (FDA) has proposed that marijuana be
reclassified from a Schedule I to Schedule III substance under the Controlled
Substances Act, based on scientific and medical evaluations. This recommendation
was recently released in documents by the U.S. Department of Health and Human
Services.

“After assessing all available preclinical, clinical, and epidemiological data,
FDA recommends that marijuana be rescheduled from Schedule I into Schedule III
of the CSA,” the documents said.

“Schedule III drugs are classified as having a potential for abuse less than the
drugs or other substances in schedules I and II, a currently accepted medical
use in treatment in the United States, and moderate or low physical dependence
or high psychological dependence that may result from their use. NIDA [National
Institute on Drug Abuse] concurs with this recommendation.”

Transitioning from Schedule I to Schedule III would reposition marijuana from
the same classification as heroin and LSD to the category that includes
substances like anabolic steroids and ketamine.

While the DEA has yet to act on this recommendation, it has the potential to
ignite a new era for the cannabis industry.

The industry is already flourishing. According to Grand View Research, the U.S.
cannabis market was valued at $13.2 billion in 2022. Moreover, this figure is
expected to continue its upward trajectory at a compound annual growth rate of
14.2% from 2023 to 2030.


WHAT TO READ NEXT

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This article provides information only and should not be construed as advice. It
is provided without warranty of any kind.

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