U.S. President Donald Trump on Thursday signed an order directing the loosening of federal regulations on marijuana, a move that could further reverse decades of tough-on-weed policy.
Trump’s order instructs the attorney general to quickly move ahead with reclassifying marijuana. If that happens, the psychoactive plant would be listed alongside common painkillers, ketamine and testosterone as a less dangerous drug.
Such a decision would represent one of the most significant federal changes to marijuana policy in decades. It could reshape the cannabis industry, unlock billions in research funding and open doors long closed to banks and investors.
The Senate’s Democratic leader, Chuck Schumer, welcomed the move, while dozens of lawmakers in Trump’s own Republican Party blasted the decision.
