Name: Trump expected to sign executive order to reclassify marijuana
Uploaded: 2025-12-12T17:35:46.782Z
Duration: 2 min 34 s
Description: Cannabis stocks jumped Friday as the White House moved to significantly ease federal restrictions on marijuana. Brandon Gomez has the latest on the timing of a potential Executive Order and why the industry says it’s “more optimistic” this time around.

Cannabis stocks jumped Friday as the White House moved to significantly ease federal restrictions on marijuana. Brandon Gomez has the latest on the timing of a potential Executive Order and why the industry says it’s “more optimistic” this time around.

Reports indicate that President Trump is preparing to issue an executive order to reclassify marijuana from a Schedule 1 to a Schedule 3 drug, aligning it with substances like Tylenol with codeine rather than heroin. This move would instruct the Department of Justice and the Drug Enforcement Administration to proceed with the reclassification process, although the White House states that no final decision has been made.

Industry leaders, such as Tilray's CEO, express optimism about the change, which is expected to have significant implications for medical research and the cannabis industry. However, the reclassification would not legalize marijuana, and regulatory hurdles and opposition remain, with the process potentially facing delays due to legal challenges.

Trump expected to sign executive order to reclassify marijuana

Cannabis stocks like Tilray, Aurora, and the Advisor Shares ETF are all soaring on these reports that the president will move to reclassify marijuana as a less dangerous drug. Our Brandon Gomez has been covering the story for what feels like forever and has more on the timing of this news. Hey, Brandon. Hey, Carl. Yeah, that's right. I feel like we've been here before, right? But with the president wanting to reschedule the drug to a new classification, now it is currently scheduled at Schedule 1. Now that's on par with heroin. Down to Schedule 3 is what the president wants to do, the same as Tylenol with codeine. So why is this time different? Well, sources have told me that the president is actively drafting an executive order to be issued as soon as Monday. Now, it would advise the DOJ and the DEA to move forward with reclassification. The White House, so far, is saying no final decision has been made yet. Now, I did speak this morning, though, with Tilray CEO Irwin Simon, one of the largest cannabis growers in the industry. He believed this time is different from past promises, telling me after many false starts, he is, quote, more optimistic this time around, adding he believes there will be change by the end of the year. Now, Carl, let's say we do get the executive order on Monday. What's next? Well, the DOJ and the DEA will publish a final rule. It'll then enter a 30-day waiting period for any challenges. We did just get a hemp ban in the government spending bill, so we know opposition is out there. And then any litigation would result in further delay of the process. So, as it goes with cannabis, and as you mentioned off the top, two steps forward, possible four steps back. One cannabis lawyer, though, telling me that this is the beginning of a, quote, new era of public health policy, but that this would be a partial victory with legalization and regulatory hurdles still ahead. Still, major implications for health regulators, retailers, investors, banks, of course, and the like, as we always discuss when we get these cannabis headlines. That was my question, Brandon, is what would a reclassification of the drug into a less serious drug actually mean for the problems with, you know, cannabis in this country, legalization, banking with these companies, all of the legitimization? How big of a step is this toward that? Yeah, so the most important thing to note is that this is not legalization. This is reclassification. What the biggest thing that it does is it opens up the door to medical research. I've been told, too, that Secretary RFK Jr. is a supporter of this when it comes to medical applications. You see how it's used in Europe, and the demand that's been there is also a point that the Tilray CEO brings up with me. So really, that's the avenue that they're trying to go here, is to amplify the medical use. And then long term, right, the hope from the industry is that we do get a broader legalization at the federal level that will then open up the floodgates to more recreational use products that we've also talked about, especially when it comes to that hemp ban.

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