Trump's Executive Order: A Shift in Marijuana Policy

U.S. President Donald Trump is expected to sign an executive order to reclassify marijuana, easing federal restrictions. The move, anticipated this week, could benefit cannabis companies by potentially lowering industrial taxes and facilitating funding. The reclassification shifts marijuana from a Schedule I to Schedule III substance.

U.S. President Donald Trump is poised to sign an executive order reclassifying marijuana to ease federal restrictions, according to credible sources cited by CNN. This move aims to adjust marijuana's classification, potentially reshaping the legal and business landscape for cannabis-related industries.

The anticipated executive order, which could be signed as early as this week, plans to fast-track the reclassification process. On Monday, Trump mentioned considering this action, causing a notable surge in stocks for companies like Cronos Group, SNDL, and Tilray Brands.

Currently, marijuana is categorized under the U.S. Controlled Substances Act as a Schedule I substance, akin to heroin. The Department of Health and Human Services previously suggested reclassifying it to Schedule III, alongside substances like ketamine. This reclassification could lead to lower taxes and easier access to funding for the industry, adjusting the playing field for cannabis businesses nationwide.

(With inputs from agencies.)