Overview
- Multiple outlets report the president is expected to issue an executive directive asking agencies to pursue moving marijuana from Schedule I to Schedule III.
- Officials caution that the president cannot change the schedule on his own, and any shift would proceed through formal HHS, DEA and Justice Department processes.
- According to the Washington Post, Trump discussed the plan with House Speaker Mike Johnson, who voiced skepticism, after consultations with health officials and industry executives.
- Moving to Schedule III would not legalize marijuana federally but could ease research, reduce tax burdens tied to Section 280E, improve access to banking and attract investment, analysts say.
- Cannabis stocks jumped on the reports, with Tilray up around 28% and other U.S.-listed shares including SNDL and Canopy Growth rising by double digits.