Democratic presidential candidate Bernie Sanders called for the end of federal marijuana prohibition on Wednesday while speaking to students at George Mason University in Northern Virginia.

The 2016 hopeful announced his support for removing marijuana from the U.S. government's official list of outlawed and dangerous drugs. Instead, he said the states should be given the authority to set their own marijuana policies without restrictions from the federal government.

"The time is long overdue for us to remove the federal prohibition on marijuana," said the self-proclaimed Democratic Socialist, according to MSNBC. "In my view, states should have the right to regulate marijuana the same way that state and local laws now govern sales of alcohol and tobacco."

Sanders also called it "absurd" that the federal government classifies marijuana as a "Schedule 1" drug, which is the highest level and the same as heroin. According to him, the plant should be completely removed from the federal government's scheduling system. In turn, this would give states more resources to address more serious substance abuse problems. It would also provide marijuana-based businesses with full access to banks, while individuals would be immune from arrest and prosecution for simple possession.

"Among other things, that means that recognized businesses in states that have legalized marijuana should be fully able to use the banking system without fear of federal prosecution," said the Vermont senator.

"In 2014 ... there were 620,000 arrests for marijuana possession. That's one arrest every minute," he added. "Too many Americans have seen their lives destroyed because they have criminal records as a result of marijuana use," he continued, reports The Washington Post. "That's wrong. That has got to change. We are spending about $80 billion a year in federal state and local taxpayer dollars to lock people up."

Sanders also noted the "racial component" within the fight to legalize marijuana.

"Although about the same proportion of blacks and whites use marijuana, a black person is almost four times more likely to be arrested for marijuana possession than a white person," he said.