Trump expected to sign executive order to reclassify marijuana as soon as Monday, source tells CNBC

Core Viewpoint - Cannabis stocks, including Tillray and Aurora, are experiencing significant gains due to reports that the president plans to reclassify marijuana to a less dangerous category, potentially moving it from Schedule I to Schedule III, similar to Tylenol with codeine [1][2] Group 1: Reclassification Process - The president is reportedly drafting an executive order to advise the DOJ and DEA to proceed with the reclassification, which could be issued as soon as Monday [2] - Following the executive order, the DOJ and DEA will publish a final rule, which will then enter a 30-day waiting period for any challenges, indicating potential delays due to opposition [4] Group 2: Industry Perspectives - Tillray's CEO, Irwin Simon, expresses optimism about the reclassification, believing that there will be significant changes by the end of the year, marking a departure from previous false starts [3] - A cannabis lawyer suggests that this reclassification could signal the beginning of a new era in public health policy, although it is viewed as a partial victory with ongoing legalization and regulatory challenges ahead [5] Group 3: Implications of Reclassification - The reclassification is not equivalent to legalization but is expected to facilitate medical research on cannabis, which could lead to broader acceptance and potential future legalization at the federal level [6][8] - The industry hopes that increased medical use will eventually pave the way for more recreational cannabis products, especially in light of recent legislative actions like the hemp ban [8]