The rescheduling of cannabis from the U.S. Drug Enforcement Administration's current most restrictive (Schedule I) designation would be an important step for cannabis research and researchers. We are researchers who have experience with cannabis research in preclinical, clinical, and policy domains and who represent a range of social science disciplines (e.g., Psychology, History). In this commentary, we share our perspectives on the history, policies, challenges, and benefits of moving cannabis from the current Schedule I designation (similar to heroin) to the less restrictive Schedule III (similar to ketamine). The rescheduling has the potential to contribute in multiple ways to research on cannabis' effects on the brain and behavior, policies for regulating medicinal and recreational use, and the use of cannabis to treat health conditions such as chronic pain. Although scientific evidence supports this rescheduling, there are challenges and pushbacks to keeping the regulations as they currently exist. Although "the devil is in the details," we present our reasons to advocate for improving access to cannabis for research.