Trump Weighs Marijuana Changes: ‘A Lot Of People Want To See It’

by | Dec 15, 2025 | General

President Donald Trump told reporters on Monday he is weighing an executive order to reclassify marijuana as a Schedule III substance. 

The potential action could transform the cannabis market, reduce legal punishments and allow for easier scientific research.

“We are looking at that very strongly,” Trump said in response to reports that he is looking at directing agencies to treat marijuana as a Schedule III drug.

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“A lot of people want to see it — the reclassification — because it leads to tremendous amounts of research that can’t be done unless you reclassify,” he added, according to Reuters. 

The president’s comments verified reports that surfaced last Friday in which a source suggested Trump would move to reclassify marijuana as soon as Monday. White House officials stated that no official decision has been made yet. 

Market Reaction

Cannabis stocks pulled back on Monday as investors took profits after Canopy Growth Corp. (NASDAQ:CGC), SNDL Inc. (NASDAQ:SNDL), AdvisorShares Pure US Cannabis ETF (NYSE:MSOS)) and Tilray Brands, Inc. (NASDAQ:TLRY) rallied between 30% and 40% on the initial report last Friday.

Such an adjustment would mark a major historical pivot in national drug rules, lowering scrutiny to match standard pharmaceuticals while inviting financial institutions back into the fold.

Reclassification offers the sector hope for reduced tax burdens and improved access to capital. Under current regulations, obtaining money is difficult because national bans deter major lenders, forcing companies to seek expensive alternative financing.

Background & Next Steps

While the Trump administration staff clarified that a definitive conclusion regarding the scheduling change has not been reached yet, the process is underway. 

Previously, the Biden team requested a health agency assessment, which suggested the Schedule III designation. Ultimately, the Drug Enforcement Administration holds the authority to finalize the regulatory switch.

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