Trump Administration Taking Fresh Look At Rescheduling
August 12, 2025A decision on whether to move forward with rescheduling cannabis could be coming in the next few weeks, President Trump told reporters yesterday, following a Wall Street Journal report over the weekend that said the president discussed the subject with donors recently. The Biden administration initiated the process of moving cannabis from a Schedule I to Schedule III drug last year, but little progress has been made toward the goal in recent months.
The Drug Enforcement Agency (DEA), which oversees the process, hasn’t scheduled new hearings on the issue, with the agency’s new administrator Terrance Cole having taken an anti-legalization stance in the past. The president’s recent comments could signal a change in direction, however, raising industry hopes that rescheduling is again on the table. Cannabis stocks rose yesterday in response to the president’s comments.—Daniel Marsteller
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