Trump may pursue an Executive Order to change marijuana's classification, according to reports.

Written by Emily J. Thompson, Senior Investment Analyst

Source: SeekingAlpha

Updated: Dec 11 2025

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Source: SeekingAlpha

Trump's Executive Order Consideration: President Trump is contemplating an Executive Order to reclassify marijuana from a Schedule I to a Schedule III controlled substance, which would recognize its medical uses and allow for certain business benefits.
Impact on Marijuana Industry: This reclassification would enable marijuana companies to deduct business expenses, access banking services, and facilitate more research, although it would not legalize or decriminalize marijuana federally.
Opposition from House Speaker: During discussions with industry executives, House Speaker Mike Johnson expressed opposition to Trump's plan, but the executives defended the potential benefits of reclassification.
Previous Rescheduling Attempts: The Biden administration's Department of Justice had previously proposed rescheduling marijuana to Schedule III, but the DEA canceled a hearing on the matter after initially rescheduling it.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.