Trump's Shift: A New Federal Stance on Marijuana

President Trump is set to sign an order aiming to ease federal marijuana regulations, marking a historic shift in U.S. drug policy. The reclassification of marijuana could enhance medical research, ease criminal penalties, and impact the cannabis industry while still maintaining marijuana's illegal status federally.

U.S. President Donald Trump is on the verge of enacting a ground-breaking change to federal marijuana policy by recommending the loosening of its regulations, according to senior administration officials.

The president's directive would initiate a reclassification process for marijuana, potentially categorizing it as a less dangerous substance comparable to painkillers. This move could considerably impact federal marijuana laws, influencing everything from research funding to the financial involvement of banks and investors in the cannabis sector.

Despite the pending reclassification that aligns with the U.S. Controlled Substances Act's Schedule III drugs, marijuana would remain a controlled substance nationwide. Additionally, the implications of this alteration reverberated through the stock markets, as shares of cannabis-related companies jumped, reflecting positive investor sentiment.

(With inputs from agencies.)