President Donald Trump could reportedly be preparing to reclassify marijuana, lowering it from a Schedule I to a Schedule III drug, a move that could have several legal effects on the cannabis industry and its consumers.
Trump’s reported reclassification would relax federal regulations on cannabis, grouping it with substances such as anabolic steroids and ketamine rather than heroin and LSD. Trump is reportedly expected to sign an executive order rescheduling the drug as early as Monday.
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