Dak, check out this very well written article on controlled substances at Wikipedia:
http://en.wikipedia.org/wiki/Controlled_substance
Here is what they talk about Schedule I drugs:
Schedule I drugs
Findings required:
(A) The drug or other substance has a high potential for abuse.
(B) The drug or other substance has no currently accepted medical use in treatment in the United States.
(C) There is a lack of accepted safety for use of the drug or other substance under medical supervision.
Tobacco, beer, wine, and spirits are explicitly exempt from the Controlled Substances Act.
No prescriptions may be written for Schedule I substances, and such substances are subject to production quotas by the DEA.
Under the DEA's interpretation of the CSA, a drug does not necessarily have to have the same abuse potential as heroin or cocaine to merit placement in Schedule I (in fact, cocaine is currently a Schedule II drug):
When it comes to a drug that is currently listed in schedule I, if it is undisputed that such drug has no currently accepted medical use in treatment in the United States and a lack of accepted safety for use under medical supervision, and it is further undisputed that the drug has at least some potential for abuse sufficient to warrant control under the CSA, the drug must remain in schedule I. In such circumstances, placement of the drug in schedules II through V would conflict with the CSA since such drug would not meet the criterion of "a currently accepted medical use in treatment in the United States." 21 USC 812(b).
Sentences for first-time, non-violent offenders convicted of trafficking in Schedule I drugs can easily turn into de facto life sentences when multiple sales are prosecuted in one proceeding. See United States v. Angelos, 433 F.3d 738 (10th Cir. 2006) (55 years for three sales of marijuana). Sentences for violent offenders are much higher.
Drugs on this schedule include:
GHB (Gamma-hydroxybutyrate), which has been used as a general anaesthetic with minimal side-effects and controlled action but a limited safe dosage range. It was placed in Schedule I in March 2000 after widespread recreational use;
12-Methoxyibogamine (Ibogaine)
Cannabis (Marijuana). Cannabis has legal medical uses in some countries and U.S. states. Conseqently, some controversy exists about its placement in Schedule I. Main article: Cannabis rescheduling in the United States;
Dimethyltryptamine (DMT)
Heroin (Diacetylmorphine), which is used in much of Europe as a potent pain reliever in terminal cancer patients. (It is about twice as strong, by weight, as morphine.)
MDMA (3,4-methylenedioxymethamphetamine,Ecstasy), which continues to be used medically, notably in the treatment of post-traumatic stress disorder (PTSD). The FDA approved this PTSD use in 2001.
Psilocybin, the active ingredient in psychedelic mushroom
5-MeO-DIPT (Foxy / Foxy Methoxy)
MDA (3,4-methylenedioxyamphetamine);
Lysergic acid diethylamide (LSD / Acid)
3,4,5-trimethoxyphenethylamine (Mescaline)
Peyote, which has a narrow exception to its illegal status for religious use by members of the Native American Church;
Methaqualone(Quaalude, Sopor, Mandrax);
2,5-dimethoxy-4-methylamphetamine (STP / DOM)
2C-T-7 (Blue Mystic / T7)
2C-B (Nexus / Bees / Venus / Bromo Mescaline)
Cathinone (β-ketoamphetamine) is a monoamine alkaloid found in the shrub Catha edulis (Khat).
Controlled Substance Analogs intended for human consumption (as defined by the Federal Analog Act)