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

Market Trend & Regulatory Landscape - Cannabis stocks are soaring on reports of potential marijuana reclassification by the president [1] - The president is considering reclassifying marijuana from Schedule I (on par with heroin) to Schedule III (similar to Tylenol with codeine) [2] - An executive order advising the DOJ and DEA to move forward with reclassification could be issued as soon as Monday [2] - The DOJ and DEA will publish a final rule, followed by a 30-day waiting period for challenges, after the executive order [4] - Opposition exists, as evidenced by the recent hemp ban in the government spending bill, which could lead to litigation and further delays [4] - Reclassification is not legalization, but a partial victory that opens the door to medical research [5][6] Industry Insights & Company Strategy - Tilray's CEO is optimistic about change by the end of the year, despite past false starts [3] - The industry hopes for broader federal legalization to open up recreational use products [8] - Amplifying medical use is a key avenue, with potential support from figures like Secretary RFK Jr [7][8] - Reclassification has major implications for health regulators, retailers, investors, and banks [5]