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Express News | The U.S. Department of Justice reclassifies medical marijuana as a low-risk controlled substance.
Express News | The United States is expected to relax its restrictions on cannabis as early as Wednesday.
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24-hour 'lightning gift package'! Trump makes a year-end push to attract voters, targeting military personnel, civil servants, the cannabis industry, and the aerospace sector.
As public opinion polls showed his approval rating falling below 40%, Trump rolled out multiple pro-people initiatives within approximately 24 hours: a "warrior bonus" of $1,776 for active-duty military personnel, an unprecedented two additional days of Christmas holiday for federal government employees, and the signing of executive orders with wide-ranging impacts, such as easing marijuana regulations and restarting the lunar exploration program. On Friday, the Trump administration also reached a drug price discount agreement with nine major pharmaceutical companies.
Trump's executive order lowers marijuana control levels, prompting investors to 'sell the fact,' causing widespread declines in cannabis stocks.
According to the executive order, marijuana has been downgraded from a Schedule I controlled substance to Schedule III, placing it in the same category as ketamine. Additionally, the order authorizes the launch of a pilot program that allows Medicare to reimburse CBD (cannabidiol, a non-psychoactive cannabis compound) products for patients with cancer and other conditions. This Medicare initiative is expected to commence next year. Cannabis stocks have generally declined, with ETF CNBS falling nearly 16%.