In a noteworthy development that’s sparking conversation across the cannabis sector, former President Donald Trump is reportedly considering a significant alteration to federal marijuana policy—one that could redefine the landscape for medical research, tax treatment, and industry growth.
At a recent $1 million-a-plate fundraiser held at his New Jersey golf club, Trump indicated that he may follow through on efforts initiated—but not completed—under the Biden administration to reclassify marijuana from a Schedule I to a Schedule III substance . Currently, Schedule I status places cannabis alongside heroin and LSD, severely limiting research, banking access, and tax relief. Moving it to Schedule III could unlock a range of commercial and scientific opportunities.
Among the influential guests lobbying for the change was Kim Rivers, CEO of Trulieve, one of the largest U.S. cannabis companies. Rivers urged Trump to push forward with reclassification and expand medical marijuana research. Her message resonated with donors and aligned with a broader push from industry groups .
Trump reportedly framed the issue as an “80-20 cultural question,” reflecting strong public interest in reform. Insiders relay that the president cited anecdotal stories of friends using medical cannabis to manage pain, signaling potential empathy despite his personal reservations .
The cannabis industry has heavily invested in political outreach. Top firms have contributed millions to Trump-aligned super PACs, retained top lobbyists, and leveraged polling data to bolster their case—data suggesting majority support even among independent voters .
While Trump hasn’t made a final decision, the White House has emphasized that all legal, policy, and public health implications are being weighed carefully, with the administration’s actions guided by what it deems best for Americans .
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