Trump's Marijuana Move: A Turning Tide for Cannabis Regulation

U.S. President Donald Trump is considering reducing federal restrictions on marijuana, potentially reclassifying it as a Schedule III drug. This change could reshape the cannabis industry, facilitating research, easing criminal penalties, and opening financial avenues. Marijuana's federal illegal status will persist despite this reclassification effort.

In a significant shift in federal cannabis policy, U.S. President Donald Trump announced plans to ease regulations on marijuana. The move comes amid calls to reclassify the drug as a Schedule III substance, placing it alongside less dangerous drugs like ketamine and testosterone. This could mark a pivotal change in decades of tough-on-weed policy enforcement.

The primary aim of this potential reclassification is to bolster medical research on marijuana and related products. Trump's proposal has prompted the Drug Enforcement Administration to review its Schedule III classification, a decision that could unleash billions in research, reshape criminal penalties, and open the cannabis industry to banks and institutional investors.

While marijuana would remain a controlled substance federally, the implications of a reclassification are vast. Cannabis stocks soared in response, reflecting optimism about a more stable regulatory environment. Local laws would still govern its use and possession, reflecting an evolving but complex legal landscape across the United States.

(With inputs from agencies.)