Prospects of Executive Action on Cannabis Under the Trump Administration

LOS ANGELES- As of early February 2025, there is no indication that President Donald Trump plans to sign an executive order directly impacting the cannabis industry. While President Trump has previously expressed support for reclassifying cannabis from a Schedule I to a Schedule III substance under the Controlled Substances Act—a move that would acknowledge its medical use and potentially ease certain restrictions—such a change would require a formal rescheduling process involving multiple federal agencies, including the Drug Enforcement Administration (DEA) and the Food and Drug Administration (FDA).

An executive order alone cannot alter the scheduling of controlled substances, as this authority is vested in the aforementioned agencies through established regulatory procedures. Therefore, any significant change in federal cannabis policy would likely necessitate legislative action by Congress or a comprehensive administrative review process.

Industry stakeholders remain attentive to potential policy shifts, recognizing that any federal action could have substantial implications for banking access, taxation, and interstate commerce within the cannabis sector. However, until concrete steps are taken by the administration or Congress, the status quo remains unchanged.