Trump says 'looking at' reclassifying marijuana as less dangerous drug

President Trump said Monday that he is "looking at" reclassifying marijuana as a less dangerous drug.

“We’re looking at reclassification, and we’ll make a determination over, I’d say, the next few weeks,” Trump said during a WHite House press conference, The Hill news outlet reported.

On Friday, The Wall Street Journal reported that Trump told donors he was considering reclassifying marijuana, which comes after industry groups paid millions of dollars to his political groups.

The Biden administration began the process to reclassify marijuana as a Schedule III drug in 2024 but did not finish it before Trump took office. A Schedule III designation would lessen criminal penalties for marijuana and allow new research opportunities and pharmaceutical companies to get involved in the sale and distribution of marijuana where it is legal. The designation would also allow for some marijuana companies to receive tax breaks.

Marijuana has been a Schedule I drug since 1971, which is the same category as heroin, methamphetamines, and LSD, which have no accepted medical use and a high potential for abuse. 

Meanwhile, Schedule III drugs include ketamine, anabolic steroids, testosterone, and Tylenol with codeine. 

A business that deals with a Schedule I or Schedule II substance is prohibited from making ordinary business deductions or add any credit to their annual federal taxes.