It's a chemical, I don't 'believe' it falls under either category. In fact, some countries that want to classify it have had a hard time determining where to classify it so it has remained unscheduled (so far). Of course it's banned for professional athletic use but the market for use is still open and grey to the general public.
Structure and classification of sarms, peptides, polys, etc isn't really my expertise. I use some peptides/research chems like GW for the added health benefits (cholesterol, heart, etc) but I'm definitely not the expert when it comes to everything peptide.
BB