Overview
- Trump said he is considering the move, while multiple outlets report an executive order could be signed as soon as Wednesday or Thursday, with officials cautioning the timing may shift.
- Reclassification from Schedule I to Schedule III would ease federal research barriers and regulatory hurdles but would not legalize cannabis, with DEA and DOJ still responsible for final rulemaking.
- The review began under the Biden administration after HHS recommended Schedule III in 2024, and the reported order would direct the DEA or Attorney General Pam Bondi to publish a final rule.
- Policy drafts described by sources could also urge Congress to pass the SAFER Banking Act and explore Medicare reimbursement for certain CBD products, though these elements remain under consideration.
- Industry and policy stakeholders have met at the White House, markets have reacted to the reports, supporters cite research and tax relief benefits, and critics warn about youth safety and call for clemency tied to any shift.