A proposed rule sent Thursday to the federal register recognizes medical uses of cannabis and acknowledges it has less potential for abuse than some of the most dangerous drugs.
The President can initiate rescheduling, but does not have the power to decriminalize (legalize) a drug on their own. That requires an act of Congress. The current bill for decriminalization and record expungement is in the House with 113 Democrat cosponsors. We’re just waiting on Republicans to come around.