President Donald Trump recently hinted at easing federal cannabis restrictions during a private dinner at his Bedminster club in New Jersey. “We need to review that,” he told a small group of donors, according to two attendees. “It’s something we’re considering.”
During his campaign, Trump had stated that a second term could mark a shift in federal cannabis policy. He expressed interest in giving states more freedom to legalize and in removing marijuana from the same federal category as heroin. This position appealed to younger voters, minority communities, and libertarian-leaning supporters.
However, after seven months in office, no action has been taken, even though other campaign promises have been addressed quickly.
Inside the administration, marijuana reform has created divisions. Some of his political strategists are pushing for quick action, seeing it as a way to strengthen Republican support before the midterms. Others, focused on policy, worry about legal complications and the political risks of loosening marijuana laws.
Public signals about Trump’s plans remain mixed. James Hagedorn, CEO of Scotts Miracle-Gro, noted that Trump has repeatedly promised that he would support reclassifying cannabis to a less restricted category. His company has invested heavily in cannabis-related ventures and donated half a million dollars to a GOP-aligned super PAC.
However, the new DEA chief, Terrance Cole, has not listed cannabis reform as a priority.
Trump’s campaign promise came last year when he posted on Truth Social that he supported a ballot measure to legalize recreational cannabis in Florida. He also said he wanted to move marijuana to Schedule III, a category for substances with lower potential for abuse than Schedule 1, where marijuana currently sits. He has also stated that small-scale possession should not result in jail time.
The current classification review began under President Joe Biden, with the HHS recommending a move to Schedule III. The DOJ started formal steps in 2024, but the process stalled when Biden left office.
The White House has since been gathering agency feedback, weighing potential effects on law enforcement. Some advisors worry that reclassification could make it harder for police to use cannabis odor as probable cause in searches—something Trump has supported in his tough-on-crime stance.
Although Trump’s public tone on cannabis has softened, he remains personally opposed to drug use, shaped by his brother’s struggles with alcohol.
Supporters, including industry groups and influential figures like Joe Rogan, continue to urge him to act, arguing it would create jobs, expand research, and appeal to a majority of Americans who favor legalization.
Any changes to the schedule in which marijuana falls could indeed lead to the mushrooming of not just marijuana companies but also allied firms similar to those operating like Innovative Industrial Properties Inc. (NYSE: IIPR).
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