In a recent private gathering at Trump National Golf Club in Bedminster, New Jersey, President Donald Trump expressed a willingness to reclassify marijuana as a less dangerous drug. The Wall Street Journal reported on this potential policy shift, which occurred during a $1-million-a-plate fundraiser attended by notable figures from the cannabis industry. Kim Rivers, CEO of Trulieve, was among the industry leaders who supported the president's move towards reclassification and increased medical research.
Currently, marijuana is listed as a Schedule I substance under the Controlled Substances Act, placing it on par with drugs like heroin that are considered to have high abuse potential and no accepted medical use. A reclassification would lessen federal restrictions, allowing for more research and legal protection for cannabis-related businesses and consumers.
The cannabis industry has reportedly been investing in Trump-aligned political groups and engaging lobbyists in Washington to advocate for reforms. These efforts seem to be making headway, as suggested by a New York Post article. This development aligns with President Trump's previous support for a Florida ballot measure to legalize recreational marijuana, which narrowly failed to pass.
Former President Joe Biden considered similar actions to deregulate marijuana, aiming to simplify buying, selling, and researching the substance. However, no formal steps were taken before the 2024 election, which witnessed Trump's return to office.
Reclassification could significantly impact the cannabis industry. Businesses might encounter fewer regulatory challenges, encouraging investments and expansion. Researchers could also access marijuana more readily for studies that could elucidate its therapeutic potential and risks.
While states like New York have legalized cannabis at the state level, a federal reclassification would mark a significant shift in national policy and regulatory landscape. White House spokeswoman Abigail Jackson stated that the administration is considering all legal and policy implications but emphasized that the president's decisions are driven by the public's best interest.
There has been no official timeline for when the administration might announce any changes to marijuana classification. Meanwhile, the cannabis industry and reform advocates are closely monitoring federal actions, understanding that a reclassification could herald considerable regulatory and market changes.
The news was met with support on social media, with personalities such as former boxer Mike Tyson tweeting, "We are with you 100%, @realDonaldTrump! @itstyson20" on August 9, 2025, indicating some public backing for the potential policy shift.
