President Donald Trump is poised to make a bold move on marijuana policy, with an executive order expected as soon as Wednesday that would reclassify the drug under federal law, according to two senior administration officials.
But behind the scenes, he's also floated similar ideas to wealthy donors as part of a broader conversation about the future of cannabis in the U.S, per ABC News.
Currently, marijuana is listed as a Schedule I drug under the Drug Enforcement Administration's guidelines, lumped into the same category as heroin and LSD - substances deemed to have no accepted medical use and a high potential for abuse.
The anticipated order would downgrade marijuana to Schedule III, a classification that the DEA says includes drugs with a “moderate to low potential for physical and psychological dependence” and a lower risk of abuse.
Executive order aims to boost marijuana research
While this move wouldn’t fully legalize marijuana, the order is expected to argue that keeping cannabis in Schedule I has held back scientific research into its medical benefits.
According to officials familiar with the matter, the directive is likely to say the classification has “impeded the ability of scientists to research the safety and efficacy of marijuana's possible uses.”
The long delay in rescheduling marijuana has also failed to help Americans suffering from chronic pain and other health conditions, the order is expected to state.
Trump himself appeared to hint at the decision earlier this week, saying the potential change would enable expanded research.
“Because 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. So we are looking at that very strongly," he said on Monday.
Reports that the administration was exploring a reclassification first surfaced back in August. At the time, Trump acknowledged it was a “complicated subject,” but said he was intrigued because he’d heard “great things” about medical marijuana.
Trump tells donors he's open to reform
While the public push is underway, Trump has also privately signaled support for marijuana reform if elected to a second term.
According to a Wall Street Journal report, Trump shared his openness to reclassification at a recent high-ticket fundraiser at his New Jersey golf club, where some attendees paid up to $1 million for access.
At the exclusive event, Trump reportedly said he was willing to support moving marijuana to Schedule III - a shift that could loosen federal restrictions while acknowledging the drug’s medical value and easing hurdles for researchers and businesses alike.
The idea reportedly gained traction after Kim Rivers, CEO of cannabis giant Trulieve, urged Trump to consider the benefits of expanding access to medical marijuana and lifting the limitations that have long stunted the industry’s growth.
Such a reclassification would bring the federal government closer to what the Biden administration has already proposed this year, though no final decision has been made on that front.
If implemented, the change could unlock significant tax benefits for cannabis companies, expand medical research, and further energize a booming legal marijuana industry that already pulls in billions annually, according to The Guardian.