Trump Says Marijuana Rescheduling Will Be Decided Within Weeks
During a White House press conference on Monday, Trump said his administration was 'looking at it,' and they will make a decision 'over the next few weeks,' calling it a 'very complicated subject.'
This marks one of Trump's rare public comments on marijuana rescheduling since he took office on Jan. 20, and comes a few days after the Wall Street Journal and CNN reported that he discussed loosening federal restrictions on marijuana at his private club in Bedminster, New Jersey.
The Wall Street Journal reported that Trump told attendees he was interested in a change, according to people who declined to be named. Guests at Trump's fundraiser included Kim Rivers, chief executive of marijuana company Trulieve, who urged him to pursue the change and expand medical marijuana research, the people said.
In June, Marijuana Herald also reported that during a private meeting last week with two U.S. House members, Trump said, 'We'll be moving forward soon with rescheduling marijuana,' according to a staffer for one of the lawmakers present.
During the 2024 election campaign, Trump said he would make it easier for adults to access regulated marijuana products and give states more leeway to pursue legalization, indicating support for removing marijuana from the same legal category as narcotics such as heroin. He also supported a ballot initiative in Florida that aimed to legalize recreational marijuana, but it eventually failed.
But seven months into his second term, Trump has yet to act on marijuana reform.
Rescheduling marijuana from Schedule I of the Controlled Substances Act, which places it alongside heroin and LSD as drugs with no currently accepted medical use and a high potential for abuse, to Schedule III, defined as substances with a moderate to low potential for physical and psychological dependence, would make it easier to access recreational marijuana and could potentially boost the profitability of marijuana businesses, which are currently burdened by heavy taxation.
Marijuana rescheduling would also better align with state-level legalizations. Medical marijuana is legal in 39 states plus Washington D.C., while recreational marijuana is legal in 24 states plus Washington D.C.
Marijuana Rescheduling Stalemate
Trump's remarks on marijuana rescheduling come amid a stalemate in the process to change the drug's classification.
The effort to move marijuana from Schedule I to Schedule III began under the Biden Administration in 2022. In 2023, the Department of Health and Human Services formally recommended rescheduling.
Following that, the Department of Justice published a Notice of Proposed Rulemaking in May 2024, opening a public comment period that closed in July with over 43,000 submissions.
An administrative hearing was scheduled for January 2025 but was postponed due to procedural disputes and an interlocutory appeal.
As of today, the process remains stalled pending the outcome of that appeal, with no new hearing date set.
Newly appointed DEA Administrator Terrance Cole made remarks before his confirmation and swearing-in on July 23. During his confirmation hearings in April and May, Cole stated that advancing the marijuana rescheduling process would be 'one of my top priorities' and that he would 'give the matter careful consideration.'
However, after his confirmation, Cole did not include rescheduling among his top eight strategic priorities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
20 minutes ago
- Yahoo
Circle stock rises after quarterly revenue beats estimates in first earnings since blockbuster IPO
Circle (CRCL) stock jumped 2% in afternoon trading on Tuesday after the stablecoin issuer posted better-than-expected quarterly revenue for the first time since going public. The company reported second quarter total revenue of $658 million, versus the $647 million analysts expected. CEO Jeremy Allaire said the company's stablecoin, USDC (USDC-USD), was the "fastest-growing major stablecoin over the past year." USDC in circulation grew 90% year-over-year to $61.3 billion at quarter end, and has grown an additional 6.4% to $65.2 billion as of Aug 10. "Overall activity globally in the digital asset economy has been growing," Allaire told Yahoo Finance on Tuesday morning. "We're continuing to see growth in the use of dollar digital currencies like USDC as a store of value around the world in cross-border settlements," he added. "Use cases continue to expand, and I think people are finding that this is an incredibly high utility, new form of money." The company also announced ARC, a new blockchain network for stablecoin finance that will launch in the second half of the year. "We wanted to create a way for institutions to pay fees on blockchains in a fast, predictable manner that would be simple from an accounting perspective and could deliver very low-cost and stable fees," CEO Jeremy Allaire said during the company's earnings call on Tuesday morning. The stock is up roughly 480% from its IPO price of $31 per share as crypto-friendly legislation has lifted the sector. Circle has been at the center of optimism over the stablecoin market following the passage of the GENIUS Act, legislation that creates guardrails and a framework for digital tokens backed by assets such as the US dollar. Circle makes much of its money from interest income, specifically from short-term Treasury bills backing its stablecoin, USDC. The company's reserve income increased 50% year over year to $634 million, primarily from an 86% growth in USDC stablecoin circulation. Allaire indicated if the Fed reserve cuts interest rates and yields on short term treasuries decline, the growth of stablecoins will offset decline in rates. "We believe that lower interest rates are going to be accelerative to the business, as money velocity picks up, as invested capital picks up, and as more people are putting money to use in the economy, this very high utility form of money will grow," said Allaire. The company also shares part of its revenue with Coinbase (COIN), a major distribution partner. Last month, Compass Point analyst Ed Engel flagged the risk of rising distribution costs as the company expands its network while continuing to share a portion of its interest income. On Tuesday morning, Engel said Circle's gross profit margin guidance of 36% to 38% for fiscal year 2025 "slightly underwhelmed." Engel said that forecast implies second half margins will come in below the first half of the year's 39%, writing "we would have expected higher gross margins in 2H25." "While CRCL's lower margin guidance could be due to conservatism, CRCL's recent partnerships don't seem to benefiting the near-term margin outlook. As such, we reiterate our Sell rating and $130 PT," he wrote. However, others on Wall Street saw the stock as a way for investors to participate in rising enthusiasm over stablecoins. "CRCL is a global leader in stablecoins and is the purest stablecoin play in the public markets right now, and we anticipate further gains in the shares as the company creates new opportunities for itself and its partners," Seaport Research analyst Jeff Cantwell wrote last month. The analyst has a Buy rating and price target of $280 on the stock. Circle's results come as the overall market hovers near all-time highs and crypto rallies on expectations of Federal Reserve rate cuts and President Trump's push to include crypto in 401(k) plans. Prior to the earnings release, Wall Street analysts had nine Buy, five Hold, and four Sell ratings on Circle stock. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices
Yahoo
20 minutes ago
- Yahoo
C3 AI (AI) Nosedives as Preliminary Results ‘Completely Unacceptable'
We recently published . Inc. (NYSE:AI) is one of the best-performing stocks on Monday. fell for a fourth straight day on Monday, slashing 25.58 percent to close at $16.47 apiece after its chief executive called the preliminary results of its first quarter of fiscal year 2026 performance 'completely unacceptable.' According to Inc. (NYSE:AI), it was targeting to report total revenues of $70.2 million to $70.4 million, and GAAP operational loss of $124.7 million to $124.9 million. Non-GAAP loss from operations was targeted at $57.7 million to $57.9 million. Commenting on the results, Inc. (NYSE:AI) CEO Tom Siebel said the sales figures were 'completely unacceptable,' and pointed to disruptions from a recent leadership reorganization, and his health contributing to the company's poor performance. Last month, Inc. (NYSE:AI) announced that it was searching for a new CEO after Siebel tendered his resignation due to health reasons, effective upon a successor assuming his post. 'After being diagnosed with an autoimmune disease in early 2025, I have experienced significant visual impairment,' he was quoted as saying last month. 'For C3 AI to reach its full potential—which I believe is spectacular—the board and I have initiated a search for a new CEO who can take the company to the next level of growth and success. I will remain fully engaged as Chief Executive Officer of until such time as the board appoints my successor, after which I will continue in the role of Executive Chairman, focusing on strategy, product innovation, strategic partner and customer relationships,' he noted. While we acknowledge the potential of AI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
Yahoo
20 minutes ago
- Yahoo
Penn Foster Group Honored with Global Catalyst Award for Learner Success
Anthology recognizes NewLeaf platform's role in improving the experience for over half a million online learners PHOENIX, Aug. 12, 2025 /PRNewswire/ -- Penn Foster Group, a leader in online education and workforce training, has been recognized with the 2025 Anthology Catalyst Award in the category of Student Success, honoring the institution's innovative use of technology to support student outcomes, enhance institutional excellence, and expand access to education that meets the needs of today's diverse learners. The Catalyst Awards, presented annually by Anthology, celebrate institutions and individuals who are leveraging Anthology solutions in bold, inspiring, and impactful ways. Winners are selected from across the globe for their leadership, innovation, and commitment to expanding access and advancing outcomes for learners. The Student Success category celebrates organizations that are implementing data-driven strategies to improve student retention, support completion, and strengthen learner outcomes. "This recognition reflects the real impact of our work to leverage data and technology to deliver a more responsive, supportive, and effective learning experience," said Kermit Cook, CEO of Penn Foster Group. "By harnessing technology in ways that improve the student experience and subsequent outcomes, we're creating systems that adapt to learners' lives and translate into real progress for learners striving for upward mobility." Central to the institution's award-winning approach is NewLeaf, a unified student experience platform that brings together enrollment, academic support, financial services, and graduation processes into one streamlined system, making it easier for students to navigate their learning journey. By leveraging the flexibility of the Anthology® Student system application programming interface and real-time data architecture, NewLeaf enables a seamless learner experience and real-time data synchronization, integrating student workflows. Since its launch in February 2024, the platform has served over 500,000 learners and driven a notable increase in program completion rates, along with a 10-point increase in Learner NPS scores for those native to the new Learner Center. The out-of-the-box integration between Anthology® Reach and Student has empowered learner support teams to address learner needs more efficiently. These outcomes reflect the power of technology to deliver more cohesive, responsive, and supportive learning experiences at scale. "We believe in the Power of Together, and this year's Catalyst Award winners are shining examples of what happens when institutions partner with purpose, vision, and innovation to transform the future of education," said Bruce Dahlgren, CEO of Anthology. Founded in 2005, the annual Catalyst Awards recognize and honor innovation and excellence in the Anthology global community of practice, where millions of educators and learners work every day to redefine what is possible when leveraging technology. Winners are selected by a cross-functional team of Anthology experts and represent the very best in their field. For more information about Penn Foster Group, please visit To learn more about the Catalyst Awards and see the full list of 2025 winners, visit About Penn Foster GroupAt Penn Foster Group, we are transforming online learning to help learners by bringing together Penn Foster, Ashworth College, James Madison High School, the New York Institute of Photography, the New York Institute of Art and Design, and other education platforms. Together, we create pathways to greater economic mobility through real-world skills and knowledge that may enable them to achieve long-term success in the workplaces of the future. Our history dates back to 1890 when our founder, Thomas Foster, pioneered distance education by offering training by mail for coal miners to get the necessary skills for safer jobs. Today, with the partners who use our education and training programs, we continue that mission of providing accessible training and education for in-demand skills and are building a workforce that's prepared for the future job market. About Anthology Anthology delivers education and technology solutions so that students can reach their full potential and learning institutions thrive. Millions of students around the world are supported throughout their education journey via Anthology's ecosystem of flagship SaaS solutions and supporting services, including the award-winning Blackboard® (LMS), Anthology® Student (SIS/ERP), and Anthology® Reach (CRM). Through the Power of Together, we are uniquely inspiring educators and institutions with innovation that is meaningful, simple and intelligent to help customers redefine what's possible and create life-changing opportunities for people everywhere. View original content to download multimedia: SOURCE Penn Foster Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
