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Trump Signals Decision on Rescheduling Marijuana Within Weeks

The announcement sent cannabis stocks higher, underscoring industry clout ahead of the DOJ and DEA’s formal rule-making process.

FILE- Michael Stonebarger sorts young cannabis plants at a marijuana farm operated by Greenlight, Monday, Oct. 31, 2022, in Grandview, Mo. (AP Photo/Charlie Riedel, file)
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President Trump, alongside Secretary of Defense Pete Hegseth (L) and Attorney General Pam Bondi (R), speaks during a news conference to discuss crime in Washington, DC, on August 11, 2025. Trump said he was deploying National Guard troops and putting the Washington police force under federal control.

Overview

  • At a White House press briefing on August 11, President Trump confirmed his administration is “looking at reclassification” of marijuana and expects to decide within the next few weeks.
  • Shifting marijuana from Schedule I to Schedule III would not legalize recreational use but would reduce certain federal penalties, ease research barriers and allow state-legal cannabis businesses to seek tax deductions previously barred under Section 280E.
  • The move revives a Biden-era process in which HHS recommended rescheduling in 2023 and the DEA proposed a rule in 2024, though that proposal has been on hold since March 2025.
  • Cannabis stocks surged following Trump’s comments, with major operators like Canopy Growth and Tilray posting double-digit gains on Monday.
  • The proposal has drawn millions in cannabis industry donations to pro-reclassification PACs and prompted opposition from law enforcement and conservative groups citing public-safety concerns.