Marijuana Insiders Hope Trump Isn't Blowing Smoke About Reclassifying Weed

During a Monday press conference, the president said his administration would determine over the next few weeks whether to move cannabis from Schedule I classification, which the federal government defines as drugs that are highly addictive and without FDA-approved medical use, to Schedule III, which includes drugs like steroids that can be accessed with a prescription.

“We’ll make a determination over the next few weeks,” Trump said.

Cannabis insiders hope the president isn’t just blowing smoke about a possible schedule change because, frankly, Trump has been of two minds about weed.

John Mueller of Greenlight, a chain of dispensaries with locations in multiple states, thinks reclassification is something that should have happened years ago.

“It’s encouraging to see signs of renewed political will as we confront 50 years of contradictory cannabis police,” Mueller told HuffPost. “This moment demands not just dialogue, but action. Now more than ever, we call for clear and comprehensive regulatory guidelines that prioritize public safety, economic opportunity, and legal certainty.”

Although moving pot to a new schedule wouldn’t make the drug legal on a federal level, Anthony Coniglio of NewLake Capital Partners, which supplies real estate capital to state-licensed cannabis operators, says the designation is a necessary next step for the bud business.

“[It] would also open the door to much-needed research in the medical applications of cannabis and mark an important step forward for new institutional investment, better access to capital markets, and a stronger foundation for long-term industry growth,” Coniglio told HuffPost. “It could give regulators clearer tools to distinguish between compliant businesses and illicit actors, focusing enforcement on unregulated businesses that pose real threats to public safety.”

Other people connected to the cannabis industry, like Vibhav Gupta, CEO of CannMenus, a cannabis tech platform, said he knows countless cannabis retailers and brands that have tried to survive for years on thin margins while waiting for reclassification.

“The industry has been burned before by reforms that never materialized, so we’re cautiously optimistic, but we’re not celebrating yet,” Gupta told HuffPost. “We hope this time is different - these businesses desperately need rescheduling to be real now more than ever.”

Kyle Sherman, founder and CEO of Flowhub, a tech company for cannabis retailers, emphasizes that reclassifying cannabis to Schedule III “isn’t the finish line, but it’s a huge step forward, and it’s the first time the federal government is openly recognizing cannabis as medicine.”

Sherman predicts a schedule change “will make it easier for patients to access the benefits of cannabis, and we’ll likely see more traditional financial institutions willing to work with the industry.”

Other potential benefits might be shorter sentences for nonviolent cannabis offenses and the possible passage of the SAFE Banking Act, proposed legislation that is designed to allow cannabis businesses to access traditional financial services without fear of federal penalties.

Other cannabis insiders are very skeptical that Trump will follow through on Monday’s promise.

Olivia Sawyer, of Kush Queen, which makes CBD- and THC-infused bath bombs, believes that “Trump is using cannabis to boost his record low approval rating by pandering to people on an issue everyone agrees on.”

She told HuffPost that it’s “hard to believe a president who is executing Project 2025 would be interested in moving cannabis forward, while they move Americans back on so many other bipartisan issues.”

Josefine Nowitz of the Cannabis Creative Group, a marijuana-focused marketing agency, said reclassifying pot must go hand in hand with restorative justice.

“Too many people remain behind bars for offenses that are now legal in much of the country, and true progress means giving them a path to rebuild their lives,” she said.

“If the Trump administration is truly sincere about rescheduling cannabis, it’s a decent start. Finally, some recognition that the laws have been out of tune with reality for decades!”

Josh Kesselman, the publisher of High Times Magazine, said that if the Trump administration is “truly sincere about rescheduling cannabis,” then Monday’s announcement is “a decent start,” but he emphasized, “it’s nowhere near enough.”

“As long as cannabis stays on the controlled substances list, people — especially those from over-policed communities — will be hit with the fallout, and the stigmas around cannabis won’t change,” Kesselman told HuffPost. “If we’re serious about justice, business, and safe access, we need to deschedule entirely and build a system that doesn’t just benefit the few.”