Overview
- A source familiar with the planning says the signing could come Thursday, though the timing may shift.
- Trump told reporters he is seriously weighing an executive order to reclassify marijuana, but a White House official says no final decision has been made.
- The contemplated change would move cannabis from Schedule I to Schedule III, which recognizes medical use and could ease research barriers as well as tax and banking burdens for licensed businesses.
- The president cannot make the change unilaterally, so any order would direct agencies to begin a formal process culminating in a DEA-led rulemaking before it takes effect.
- Cannabis shares rallied on Tuesday after the remarks, including Cresco Labs up 34.9%, Tilray up 27.5%, and the AdvisorShares Pure US Cannabis ETF up 20.6%.