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U.S. Reclassifies Marijuana as Schedule III, Stocks Surge

4/22/2026

27 4 Full Breakdown

Summary

Story summary

The U.S. administration is expected to reclassify marijuana as a Schedule III drug today.
U.S. President Donald Trump’s executive order initiated the change and could ease research barriers.
Stocks for major cannabis firms rose, with Tilray up 14% and Canopy Growth up 25%.
The measure will not legalize marijuana or alter existing criminal sentences.
In Florida, recreational marijuana remains illegal.

History

Historical Context

The Marijuana Tax Act of 1937, introduced by Rep. Robert L. Doughton, imposed heavy taxes on cannabis, leading to a 100% decline in legal production. This act marked the beginning of cannabis prohibition in the U.S. The recent reclassification of marijuana as a Schedule III drug signals a policy shift, potentially facilitating research and future legalization efforts in states like Florida.

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Story summary

The U.S. administration is expected to reclassify marijuana as a Schedule III drug today.
U.S. President Donald Trump’s executive order initiated the change and could ease research barriers.
Stocks for major cannabis firms rose, with Tilray up 14% and Canopy Growth up 25%.
The measure will not legalize marijuana or alter existing criminal sentences.
In Florida, recreational marijuana remains illegal.

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