Related videos:
The president Donald Trump could announce next Monday the federal reclassification of marijuana, in a move that marks a radical shift from his first Administration and has already created an impact in the markets.
According to reports from The Washington Post and Axios, the White House will instruct several federal agencies to no longer classify cannabis as a substance in the most dangerous category — alongside drugs like heroin — and reclassify it to Schedule III, alongside painkillers like Tylenol with codeine or some steroids.
The news triggered an immediate reaction on Wall Street: Tilray Brands' shares rose by more than 30% before the market opened, while Canopy Growth and SNDL also recorded double-digit increases. Specialized funds, such as the Amplify Seymour Cannabis ETF, surged more than 19% after years of losses.
According to Newsweek, Trump discussed the measure from the Oval Office during a call with the Speaker of the House, Mike Johnson; the Secretary of Health, Robert F. Kennedy Jr.; and leaders in the cannabis industry. The conversation hinted that the government might already be finalizing the details of the announcement.
The president had promised during his campaign to promote medical research on cannabis, and in recent months, he suggested that Medicare might cover CBD-derived products. If realized, this decision would represent a continuation of the process initiated by Joe Biden in 2023, although it was never completed.
Trump's shift, however, divides Republicans: the more conservative factions oppose it, while polls show that the majority of Americans support legalization. According to Gallup, 64% support reform, and more than twenty states already permit recreational use.
Although the reclassification wouldn’t imply complete legalization, it would pave the way for increased medical research and ease the tax burden on the sector. If the measure progresses, the DEA will initiate a regulatory process that could culminate in the summer of 2026, provided the White House remains on course.
Filed under: