Tom Daschle, former U.S. senator from South Dakota, has taken an adviser position at a cannabis investment company and is calling for a loosening of restrictions on pot.

Daschle, who was majority leader in the U.S. Senate from 2001-2003, has joined the advisory board of Northern Swan Holdings Inc., the company announced Monday.

Northern Swan is an New York-based investment firm supporting emerging companies in the international cannabis industry in nations where pot is legal.

Daschle called for changes to U.S. laws regarding cannabis research and use, in the news release from the company.

“As the conversation around cannabis has evolved, so should the policies," he said. "I believe it is imperative to loosen the restrictions on cannabis so we can research its properties and fully understand how patients can benefit from its medicinal use."

In an interview on CNBC on Monday, Daschle touted the medical benefits of pot and called for its removal from the federal Schedule 1 list of illegal drugs.

"I think what we should do is take it one step at a time," he said. "Let's take it off the Schedule 1 format and really provide a regulatory framework that allows us to explore the real potential medically. That's where we ought to start."

A lot of promise in cannabis, says former Senate majority leader Tom Daschle

Northern Swan also announced it had added former Rep. Joe Crowley of New York to its advisory board. Both prominent Democrats joined the Northern Swan advisory board as the company secured $100 million to expand its operations in Latin America and elsewhere in the world.

“Senator Daschle is a pre-eminent expert in health and wellness whose experience in healthcare policy reform will be invaluable to our company’s expansion in the global medical cannabis market,” said Kyle Detwiler, CEO of Northern Swan, in the news release.

Daschle isn't the first top lawmaker to join a company in the cannabis sector. Former House Speaker John Boehner, Republican from Ohio, joined the board of Acreage Holding, a publicly traded cannabis company, soon after leaving office in 2015.

In March, Boehner announced the formation of a new lobbying group, the National Cannabis Roundtable. Boehner said he would advise the group and serve as honorary chair.