Trump Plans to Change Cannabis Classification

• Trump is considering a change in the cannabis classification to less than Schedule I.
• Shares of cannabis companies surged following his announcement.
• Changing the classification would allow for more research on cannabis.

President Donald Trump confirmed that his administration is considering the possibility of changing the cannabis classification to less than Schedule I narcotic. At a press conference in the White House on August 11, 2025, Trump indicated that he hopes to finalize a decision in the coming weeks.

He noted that the issue of classification is complex. "This is a very complicated topic, and I hope that this will be the right decision," said Trump.

Currently, cannabis is classified as a Schedule I narcotic, which means it has no medical use and has a high potential for abuse. Trump also indicated that he has received both positive and negative feedback about cannabis, particularly regarding its medical use.

Following his announcement, cannabis-related stocks surged. For instance, shares of Tilray Brands rose by 42%, while those of Village Farms International and Canopy Growth Corp increased by 34% and 26% respectively.

Before these comments, Trump discussed the potential for changing the classification of narcotics in the context of efforts to clean up Washington from crime and homelessness, but his proposals regarding cannabis raised questions about potential supermajority in politics.

Earlier, in the last year of President Joe Biden's administration, the Drug Enforcement Administration (DEA) supported the idea of rescheduling cannabis to Schedule III, which would allow for more research and tax incentives for the cannabis industry.

Tags: USA/Politics