If the Biden administration moves forward with a recently proposed plan aiming to reclassify marijuana, the results could make major waves within the U.S. marijuana industry. It could also mean a great deal for Mississippi. The proposed plan would reclassify marijuana from a Schedule I drug to a Schedule III.

Marijuana being classified as a Schedule III drug means it would be classified alongside drugs including ketamine, testosterone, anabolic steroids and Tylenol with codeine, USA TODAY reports. These drugs have "moderate to low potential for physical and psychological dependence," according to the DEA.

What it wouldn't do is legalize marijuana for recreational use. “Today, the Attorney General circulated a proposal to reclassify marijuana from Schedule I to Schedule III,” Justice Department Director of Public Affairs Xochitl Hinojosa said in a statement,