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Trump Poised to Reschedule Cannabis, Acknowledging Medical Use

President Trump plans to reschedule cannabis from Schedule I to III, acknowledging medical use and offering tax relief to companies like Green Thumb Industries.

This news matters because it represents the most significant potential shift in federal cannabis policy in decades, directly affecting millions of patients, a multi-billion dollar industry, and national drug policy. Rescheduling to Schedule III would alleviate crippling tax burdens on state-legal cannabis businesses (saving them an estimated 70% in effective tax rates), potentially lowering consumer prices and accelerating industry growth and investment. For patients, it legitimizes medical cannabis at the federal level, which could improve research access and insurance coverage discussions. However, it does not legalize recreational use federally, creating a new regulatory gray area and leaving state-federal conflicts unresolved for adult-use markets. This move could reshape the legal landscape, influence international drug treaties, and signal a major political evolution on cannabis, impacting everything from banking access to pharmaceutical development.