Trump Speeds Marijuana Rescheduling to Schedule III

On December 18, 2025, President Donald Trump issued Executive Order 14370, directing Attorney General Pam Bondi to fast-track marijuana rescheduling to Schedule III under the Controlled Substances Act. Cannabis stocks jumped right away. But this move does not change federal law and marks a reversal of Joe Biden’s earlier efforts.

Trump’s directive tells the Justice Department to wrap up the rulemaking process on marijuana rescheduling as quick as possible. It builds on a review started under Biden but stops short of any new law or final decision.

The order came just weeks into Trump’s second term. It sparked buzz in financial circles. BNN Bloomberg noted the stock surge, calling it a nod to reform after 55 years.

Yet experts point out the fine print. No drugs get moved without full hearings and science reviews. This step only pushes speed, not guarantees.

Executive Orders Cannot Rewrite Drug Laws

Presidents use executive orders to guide their teams on enforcing laws. The U.S. Constitution gives no direct power for orders to override Congress or courts. Article II lets leaders take care that laws get followed.

Landmark cases set clear limits. In 1952, the Supreme Court struck down President Truman’s steel mill seizure. Justice Jackson wrote that orders must stem from Congress or the Constitution.

The Controlled Substances Act puts scheduling power with the Attorney General. But even there, changes need public input and data. Trump’s order signals priority. It cannot force a shift alone.

Courts have blocked past drug policy tweaks. Change demands full process.

Echoes of Biden’s Stalled Rescheduling Push

Biden kicked off marijuana review in October 2022. His team proposed Schedule III in May 2024 after HHS review. But by January 2025, roadblocks lingered: lawsuits, delays, no final rule.

Trump’s order looks like Groundhog Day. It picks up the same thread. Key differences show backtracking, not bold advance. Biden eyed full reform signals. Trump focuses on tight control.

Here are main contrasts:

• Biden opened door to medical use data. Trump stresses enforcement basics.
• Biden faced industry lawsuits for speed. Trump aims to end delays but skips broad signals.
• Biden linked to pardons and state rights. Trump stays narrow on scheduling only.

Both paths hit the same wall: no final DEA sign-off yet.

Market Surge Meets Cold Reality

Cannabis stocks lit up post-order. Multi-state operators and growers saw gains of 10-20% in hours. Investors bet on tax breaks from Schedule III.

Schedule III means lower taxes. No more IRS code 280E blocks deductions. Legal sales could boom.

But federal status stays murky. States run 38 legal markets. Banks shy away due to Schedule I risks.

This table shows why eyes stay on III. Yet full rescheduling fights lawsuits. Past efforts failed.

One sentence sums the hype: Reality lags far behind.

Bigger Picture for Cannabis Reform

Reform roots trace to 1970. Nixon signed the Controlled Substances Act. He placed marijuana on Schedule I as “temporary.” It stuck for over five decades.

Public views shifted. Gallup polls show 70% back legalization now. States collect billions in taxes.

Trump’s push affects everyday folks. Patients wait on banking. Growers face raids. No order ends that without DEA action and court OKs.

Lawmakers eye bills too. But gridlock rules Congress.

Change feels close but slips away. Trump revived hopes, yet core barriers remain firm. Supporters cheer momentum. Critics see same old stall.

Reform demands Congress act. Until then, executive nudges tease without delivery.

The road ahead mixes promise and pitfalls. Patients and businesses hang in limbo. This order spotlights the fight. Marijuana rescheduling hangs by process threads, not bold leaps.