Biden directed the Department of Health and Human Services (HHS) to reexamine the scheduling of marijuana in October 2022.
Nearly a year later in August 2023, the HHS wrote to the DEA recommending that marijuana be reclassified from Schedule I to Schedule III.
A month ago, the DEA was still "writing [their] recommendation" on what they should reclassify marijuana to (if any change was to happen).
And just now, April 2024, the DEA agreed with HHS (as reported by AP, DEA hasn't confirmed this yet).
So no, this isn't "just happening" now, this has been going on for years.
[1]: https://www.whitehouse.gov/briefing-room/statements-releases... [2]: https://www.bloomberg.com/news/articles/2023-08-30/hhs-calls... [3]: https://twitter.com/DEAHQ/status/1772987478548287891