President Donald Trump ushered in the most momentous shift in federal marijuana policy since 1970 on Thursday with an executive order reclassifying cannabis as a less dangerous drug.
“I promised to be the president of common sense,” said the president, flanked by doctors and veterans advocates in the Oval Office.
The executive order directs the Justice Department to move marijuana from Schedule 1 to Schedule 3 of the Controlled Substances Act, a move that will free the $32 billion legal U.S. cannabis industry from 280E of the Internal Revenue Code.
Trump is also directing lawmakers and officials to make CBD-based treatments available to seniors on Medicare, a revolutionary advancement that could come as soon as April 2026, according to Mehmet Oz, the administrator of the Centers for Medicare & Medicaid Services.
“I’m not going to be taking it. But a lot of people do want it,” the president said, shortly before putting pen to paper at just after 2 p.m. Eastern time.
This is a developing story and will be updated.
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