US President Donald Trump announced that his administration is reviewing the possibility of reclassifying cannabis as a less dangerous drug. Speaking at the White House, Trump said he expects to make a decision in the coming weeks, calling the issue “very complicated.” He acknowledged positive reports about medical cannabis but expressed concerns about broader use, especially its impact on children and older adults, Al Jazeera reported.

Following his remarks, stocks of cannabis companies surged, with New York-based Tilray Brands rising nearly 42 percent. Cannabis remains illegal at the federal level as a Schedule I drug, categorized alongside heroin and LSD, indicating high abuse potential and no accepted medical use. Former President Joe Biden had proposed reclassifying cannabis to Schedule III, reflecting lower risk, but the change was not implemented before he left office.