Federal authorities have announced that they are reviewing the possibility of loosening the classification of marijuana, and if this happens, it could have a far-reaching impact on how the substance is used in medical settings, experts said. Marijuana is currently classified as a Schedule I drug, meaning it is listed alongside heroin and LSD as among the "most dangerous drugs" and has "no currently accepted medical use and a high potential for abuse."

The Drug Enforcement Agency announced last week that it is reviewing the possibility of reclassifying it as a Schedule II drug, which would put it in the same category as Ritalin, Adderall and oxycodone. Medical experts are welcoming the review, saying it could ease restrictions for researchers, so that they can better understand which compounds in marijuana could be used to help patients.

The American Medical Association told ABC News that the group supports the review "to help facilitate scientific research and the development of cannabinoid-based medicines." "The Drug Enforcement Administration should work with other federal regulatory agencies to develop a special schedule for marijuana to facilitate study of its potential medical utility in prescription drug products," AMA officials told ABC News in a statement. "Current standards for approval of prescription drug products require rigorous scientific study.

While studies related to a limited number of medical conditions have shown promise for new cannabinoid-based prescription products, the scope of rigorous research needs to be expanded to a broader range of medical conditions for such products," the AMA added.