Back to today’s briefing

Story perspectives

Trump Reclassifies Marijuana to Boost $70B Cannabis Industry

3/22/2026

50 9 Full Breakdown

Summary

Story summary

U.S. President Donald Trump ordered the reclassification of marijuana from Schedule 1 to Schedule 3 in December 2025.
The Justice Department, led by Attorney General Pam Bondi, is finalizing the rule.
The change would expand opportunities for the $70 billion cannabis industry and improve banking and financing.
Investors are optimistic about legalization, but delays and skepticism persist within the administration.

History

Historical Context

The Controlled Substances Act of 1970 classified marijuana as a Schedule I drug, severely restricting its medical use and research. This classification contributed to the cannabis industry's growth into a $70 billion market. Recent efforts by President Trump to reclassify cannabis reflect changing public attitudes and could enhance banking access and investment opportunities, signaling a significant shift in U.S. drug policy.

1 of 2

Story summary

U.S. President Donald Trump ordered the reclassification of marijuana from Schedule 1 to Schedule 3 in December 2025.
The Justice Department, led by Attorney General Pam Bondi, is finalizing the rule.
The change would expand opportunities for the $70 billion cannabis industry and improve banking and financing.
Investors are optimistic about legalization, but delays and skepticism persist within the administration.

1 / 2