Trump says he may reclassify cannabis as less dangerous drug

Cannabis stocks soar aft US president says helium is ‘looking at’ reclassification.

United States President Donald Trump has said his medication is “looking at” reclassifying cannabis arsenic a little unsafe drug.

Speaking to reporters astatine the White House connected Monday, Trump said helium would marque a determination connected the ineligible classification of the cause implicit the adjacent fewer weeks.

“That determination hopefully volition beryllium the close one,” Trump said. “It’s a precise analyzable subject.”

Trump said that portion helium had heard “great things” astir medical-use cannabis, helium had heard atrocious things astir “just astir everything else” to bash with the drug.

“Some radical similar it, immoderate radical hatred it,” helium said. “Some people hatred the full conception of marijuana due to the fact that if it does atrocious for the children, it does atrocious for radical that are older than children.”

Stocks successful cannabis-related businesses soared pursuing Trump’s remarks.

New York-based Tilray Brands jumped astir 42 percent, with Canada’s Village Farms International and Canopy Growth Corp closing up astir 34 percent and 26 percent, respectively.

Trump made his comments aft The Wall Street Journal reported past week that helium told attendees astatine a caller fundraising meal that helium was funny successful reclassifying the drug.

While cannabis is afloat legal, including for recreational use, successful 24 US states, the usage and possession of the cause is amerciable astatine the national level.

Cannabis is presently classified arsenic a Schedule I drug, putting it successful the aforesaid class arsenic heroin, LSD and ecstasy.

Under the Drug Enforcement Administration’s classification system, Schedule I drugs are defined arsenic those with “no presently accepted aesculapian usage and a precocious imaginable for abuse”.

Former US President Joe Biden projected reclassifying cannabis arsenic a Schedule III drug – defined arsenic those with a “moderate to debased imaginable for carnal and intelligence dependence” – but failed to enact the alteration earlier leaving bureau successful January.