Trump Says He’s Considering Making Marijuana “Less Dangerous” Drug

President Donald Trump says his administration is “looking at” moving cannabis into a less restrictive drug category — a shift that could reshape the US marijuana industry and federal drug policy.

Speaking to reporters at the White House on Monday, Trump said he would make a decision “in the next few weeks.”

“That determination hopefully will be the right one,” he said. “It’s a very complicated subject.”

Trump noted he’d heard “great things” about medical marijuana, but was skeptical about recreational use.

“Some people like it, some people hate it,” he said. “Some people hate the whole concept of marijuana because if it does bad for the children, it does bad for people that are older than children.”

Investors jumped on the news — cannabis stocks soared. Tilray Brands, based in New York, closed up almost 42 percent, while Canada’s Village Farms International and Canopy Growth Corp gained 34 percent and 26 percent, respectively.

The remarks came days after The Wall Street Journal reported Trump had told donors at a fundraiser he was considering a reclassification.

Right now, cannabis sits in the DEA’s Schedule I category, alongside heroin, LSD, and ecstasy, meaning the federal government claims it has “no accepted medical use” and a high abuse potential.

Former President Joe Biden had proposed moving it to Schedule III, a category for substances with “moderate to low potential for dependence,” but left office in January before finalizing the change.

Meanwhile, marijuana remains fully legal — including for recreational use — in 24 US states, despite still being banned under federal law.