While President Biden still does not support the legalization of adult-use marijuana, he has stated in the past that he would back legislation changing the drug from Schedule I to Schedule II. However, this would keep cannabis illegal outside of a heavily regulated pharmaceutical environment headed by the FDA. Here’s a video that explains this concept.
However, new legislation has been introduced in congress that would change marijuana’s designation from Schedule I to Schedule III. Authored by Rep. Greg Steube (R-FL), Cannabis would still remain illegal, but much more research would be able to be conducted with the leaf. And since complete legalization seems to be off the table for now, this could be one of the better options.