Marijuana Reclassification

Trump Orders Marijuana Reclassification: A Smokescreen or Real Change?

President Trump signed an executive order to reclassify marijuana as a Schedule III drug, a significant change in federal policy that aligns with many states’ stances. This reclassification, similar to a proposal by his predecessor, would move cannabis away from its current classification alongside heroin. The shift could alter regulation and reduce taxes for the cannabis industry, though it wouldn’t legalize recreational use nationwide. Despite this move, some Republicans oppose the change, citing concerns about safety and potential impacts.

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Trump Expected to Reclassify Marijuana, Pot Stocks Surge Amid Criticism

According to sources, President Donald Trump is expected to issue an executive order that could reclassify marijuana, potentially as early as Monday. This action would shift cannabis companies to different tax regulations and encourage investment. Such a move is anticipated to be a positive development for the cannabis industry, possibly allowing banks to more easily serve the sector. While seen as progress towards normalizing cannabis under national law, experts note that reclassification is a partial victory, and further action, including Congressional involvement, will be needed for broader regulatory changes and reforms.

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