Overview
- Multiple outlets, citing the Washington Post, report President Trump is expected to direct federal agencies to pursue moving marijuana from Schedule I to Schedule III via executive order.
- A White House official says no final decision has been made, and any change must proceed through the HHS, DEA and DOJ regulatory process.
- Trump discussed the plan this week in an Oval Office call with Speaker Mike Johnson, Health Secretary Robert F. Kennedy Jr., CMS chief Mehmet Oz and industry executives, with Johnson expressing skepticism.
- Cannabis shares jumped on the reports, with Tilray up roughly 28%–33% and other names such as Canopy Growth, SNDL and sector ETFs posting double‑digit gains.
- Legal experts note the president cannot unilaterally reschedule the drug but could direct the Justice Department to expedite procedures, and any reclassification would ease research and tax burdens without legalizing recreational use.