Trump Signs Order to Ease US Marijuana Regulations, Sparking Industry Hopes
In a significant move, US President Donald Trump has signed an order directing the loosening of federal regulations on marijuana, potentially reversing decades of tough-on-weed policy. The order instructs the Attorney General to reclassify marijuana, which could lead to the psychoactive plant being listed alongside common painkillers, ketamine, and testosterone as a less dangerous drug.
This decision could represent one of the most significant federal changes to marijuana policy in decades, reshaping the cannabis industry, unlocking billions in research funding, and opening doors to banks and investors. The move has been welcomed by Senate Democratic Leader Chuck Schumer, while dozens of lawmakers in Trump’s own Republican Party have expressed opposition.
Despite the potential changes, marijuana will still remain illegal federally and subject to a patchwork of local laws across the country. Trump emphasized that controlled substances are risky and that experimentation is of no interest to him. However, he acknowledged that some patients need access to the drug, stating, “We have people begging for me to do this, people that are in great pain for decades.”
The primary purpose of the order is to increase medical research of marijuana and related products to understand their risks and potential for treatment. The Centers for Medicare and Medicaid Services plans to allow some beneficiaries to use hemp-derived CBD products as soon as April.
The move has sparked hopes in the cannabis industry, with stocks of cannabis-related companies gaining between 6% and 12% in afternoon trading. However, challenges remain, including funding and access to banking services. Most Americans favor full legalization, and the decision marks an important step toward greater regulatory clarity and institutional acceptance of cannabis worldwide.
The reclassification of marijuana would require the Drug Enforcement Administration to review the recommendation and decide on the reclassification. Under the US Controlled Substances Act, marijuana is currently listed as a Schedule I substance, indicating a high potential for abuse and no currently accepted medical use. A reclassification to Schedule III would indicate that the drug has a lower potential for abuse and legitimate medical uses.
The issue has been bogged down in bureaucratic process at the agency, but the order could pave the way for increased research and acceptance of marijuana. As the cannabis industry continues to grow, the move is seen as a significant step towards greater regulatory clarity and institutional acceptance of cannabis worldwide.
