Trump Reportedly Plans Major Shift To Ease Federal Marijuana Rules

President Donald Trump is reportedly planning to advocate for a significant relaxation of federal regulations on marijuana, a move that could have a substantial impact on the industry. Plan to Shift Marijuana to Schedule III Trump is expected to direct federal agencies to reclassify marijuana as a Schedule III substance, The Washington Post reported on Thursday. This would place the plant and its derivatives in the same category as some prescription painkillers and other drugs, resulting in reduced federal oversight. Marijuana is currently classified as a Schedule I substance, the same classification as heroin and LSD. It has become easy to obtain, however, as dozens of states and Washington, D.C., have legalized medical marijuana programs, and 24 have approved recreational marijuana.The president discussed this plan with House Speaker Mike Johnson (R-LA) in a recent phone call, according to the report. The change wouldn't legalize or decriminalize marijuana, but it would expand research access and likely increase profits for licensed businesses. Trump had previously expressed interest in reclassification in August and intended to finish the process started under former President Joe Biden. See Also: Elon Musk Claims Tesla’s Robot Will ‘Just Follow You Around’ To Stop Crimes — A Prison-Free Future Where You Can ‘Do Anything’ Except Break The Law Policy Moves Signal Major Cannabis Shift This potential reclassification could have a significant impact, especially in light of recent regulatory changes. In November, Congress passed a funding bill that included a provision to re-criminalize several THC-infused and hemp-derived products, sparking concern across the industry. However, despite these regulatory headwinds, several cannabis stocks like Tilray Brands Inc. (NASDAQ:TLRY), Cronos Group Inc. (NASDAQ:CRON), Organigram Global Inc. (NASDAQ:OGI), and SNDL Inc. (NASDAQ:SNDL) have continued to demonstrate improvement in Benzinga Edge momentum rankings. Trump’s potential endorsement was called a “sea change” in cannabis policy by Kim Rivers, CEO of Trulieve Cannabis Corp (OTC:TCNNF) and vice chair of NCR. READ NEXT: Scott Bessent Slams ‘American Chavista’ Elizabeth Warren For Driving Away Foreign Investment: Says She Is Undermining Trump’s ‘Golden Age’ Image via Shutterstock Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.