WASHINGTON, United States — The United States administration is expected to reclassify marijuana as early as Wednesday, in what could mark one of the most significant federal drug policy shifts in decades.
According to a report by Axios, citing an official familiar with the matter, the move has already triggered a surge in cannabis-related stocks. Shares of Canopy Growth rose by 23pc, while Tilray Brands gained 15pc following the report.
The proposed reclassification would lower marijuana’s status under federal law, placing it alongside drugs such as ketamine and testosterone, which are considered to have accepted medical uses and lower abuse potential than substances in stricter categories.
If implemented, the change could remove longstanding barriers to scientific research on marijuana, particularly its potential therapeutic applications.
It may also ease regulatory burdens on cannabis businesses, including tax restrictions and limited access to banking services, factors that have constrained industry growth.
The policy shift follows a December executive order signed by U.S. President Donald Trump directing federal agencies to review and loosen marijuana regulations.
That directive set in motion a process led by the U.S. Department of Justice and its enforcement arm, the Drug Enforcement Administration, which holds the authority to reschedule controlled substances.
Neither agency immediately responded to requests for comment on the reported timeline.
Marijuana remains classified as a highly controlled substance under federal law, despite growing acceptance at the state level, where many jurisdictions have legalized it for medical or recreational use. The current classification has limited formal research due to strict regulatory controls.
Data from the Centers for Disease Control and Prevention indicates that marijuana is the most widely used illicit drug in the United States, with nearly one in five residents reporting use annually.
