Trump expected to sign executive order to reclassify marijuana as soon as Monday
"The Washington Post first reported Thursday that Trump was expected to use an executive order to instruct federal agencies to reclassify marijuana as a less-regulated Schedule III drug from a Schedule I."
President Trump is expected to sign an executive order as soon as Monday to reclassify marijuana as a Schedule III drug, according to a source familiar with the matter. This move would allow cannabis companies to fall under different tax regulations and encourage investment. Cannabis stocks surged following the report, with Tilray shares trading at a little more than $10 after peaking at more than $2,140 in September 2018. The industry sees this as a sign of progress to normalize pot under national law, but the sector will need to continue fighting for legalization.
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