President Trump is reportedly considering reclassifying marijuana as a less dangerous drug.
According to a report from The Wall Street Journal, Trump told attendees at a recent fundraiser in New Jersey that he was interested in pursuing this change.
The Biden administration had begun moving toward the change but left office before putting it into effect. Such a shift would greatly ease the buying and selling of marijuana, boosting profitability in the multibillion-dollar industry.
Trump reportedly expressed interest in the idea and later raised the idea with his advisors.
Among the event’s attendees included Kim Rivers, CEO of major cannabis company Trulieve, who is said to have urged Trump to support the move and expand medical marijuana research.
Other guests included Pfizer’s CEO, cryptocurrency executives, and political advisers close to Trump. The group also discussed New York politics and fielded requests from additional donors, attendees said.
TRUMP EYES MARIJUANA RECLASSIFICATION AFTER MILLION DOLLAR DINNER
Cannabis executives finally got Trump’s ear at a New Jersey fundraiser.
Their pitch? Finish what Biden started but couldn’t deliver on marijuana reclassification.
Trulieve CEO Kim Rivers made the case… https://t.co/05xRoZQS0d pic.twitter.com/2ifKGXH0ZZ
— Mario Nawfal (@MarioNawfal) August 9, 2025
The current debate centers on whether marijuana should be moved to Schedule III, a change that wouldn’t fully legalize it but would loosen restrictions.
Such a reclassification would open the door to tax deductions for certain cannabis businesses and expand opportunities for medical research.
In September of last year, Trump publicly backed a Florida legalization measure, while Governor Ron DeSantis opposed it.
Trump Clarifies his Policy in Marijuana…
He’s ok with it, as long as…
• you got to be a certain age to buy it
• it’s done in a safe and lawful way
• he emphasizes the way they’re doing in Florida might be the way to goI sense he’s not for it, but it’s such a popular… pic.twitter.com/vWDUAXXbKb
— MJTruthUltra (@MJTruthUltra) September 3, 2024
However, the the initiative fell just short of the 60 percent threshold it needed to pass.
Trump has also pledged to prioritize research into the medicinal benefits of marijuana, along with other policy goals sought by the cannabis sector.
Critics of the proposal argue that downgrading cannabis could downplay its risks, particularly its documented links to psychosis, schizophrenia, and other severe mental health episodes in vulnerable users.
Opponents also warn that easier access could exacerbate addiction rates and place additional strain on public health systems already grappling with substance-related disorders.
A White House spokesperson said that no final decision had been made and that discussions remained ongoing.
“All policy and legal requirements and implications are being considered,” said spokesperson Abigail Jackson.
”The only interest guiding the president’s policy decisions is what is in the best interest of the American people.”
