The Trump administration reclassified marijuana on Thursday (April 23), transferring the substance from Schedule I (most dangerous drugs) to Schedule III (controlled substances). The change facilitates scientific research and medical marijuana commerce, but recreational use remains federally prohibited.
Marijuana has been classified as illegal in the US since 1970, remaining in Schedule I category alongside drugs like LSD and heroin. The reclassification process had been initiated by the Biden administration in 2024, but Trump embraced the cause during his campaign and ordered the process to be expedited.
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The Department of Justice transferred cannabis from Schedule I to Schedule III
The reclassification does not legalize marijuana use at the federal level
There will be a hearing in June to formalize the change
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Cannabis company stocks fell after the decision, with Pure US Cannabis ETF dropping 17%, Tilray 12% and Curaleaf 24%
⚠ only one source — exclusive, unconfirmed
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The change allows medical cannabis companies to access bank loans and deduct expenses like rent and payroll
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Trump had signed a decree in December 2025 to expedite the reclassification process
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