President Donald Trump is weighing a significant shift in federal marijuana policy, considering a move that could reclassify the drug as less dangerous and open the door to looser regulations, expanded medical research, and new tax breaks for the booming cannabis industry. The debate, which has recently gained momentum, centers on whether to move marijuana from its current status as a Schedule I controlled substance—reserved for drugs deemed to have no accepted medical use and a high potential for abuse—to Schedule III, a category that includes less tightly regulated substances.
This potential change has been propelled into the national spotlight following a high-profile fundraiser at Trump’s New Jersey golf club earlier this month. As reported by The Wall Street Journal and confirmed by CNN and Reuters, the event attracted a host of influential donors and industry leaders, including Kim Rivers, CEO of Trulieve, one of the country’s largest marijuana companies. According to multiple attendees, Rivers used the opportunity to personally urge Trump to support the reclassification of marijuana and to expand federal research into its medical applications.
Trump, according to those present, responded with interest. “We need to look at that,” he acknowledged to the donor gathering, as cited by CNN. He reportedly directed his staff to investigate the proposal further, signaling a willingness to consider a policy shift that would mark a dramatic turn from the long-standing federal approach to marijuana.
The cannabis industry, for its part, has been lobbying hard for this outcome. Companies have funneled millions—around $1 million to Trump’s political action committee alone, according to CNN and Times Now News—and hired prominent lobbyists and former Trump advisers to make their case. Their argument is straightforward: reclassifying marijuana as a Schedule III drug would not only ease federal restrictions but also allow cannabis businesses to access valuable tax breaks and expand the scope of medical research. Such a move would stop short of full legalization or decriminalization, but it would represent the most significant federal shift in marijuana policy in decades.
Industry leaders see the timing as ripe. The Biden administration had also proposed a similar reclassification, but the effort stalled before leaving office. Now, with public attitudes toward marijuana softening—polls show majority support for some form of legalization or reform, including among Republicans and independents—Trump’s advisers believe the issue could have broad appeal, especially with younger voters and those in swing states.
Yet, the path forward is anything but straightforward. Trump’s own history with marijuana is complicated. He has long expressed personal opposition to drug use, influenced in part by the tragic death of his older brother Fred from alcoholism. In a secretly recorded 2018 dinner with Republican donors Lev Parnas and Igor Fruman, Trump voiced skepticism about marijuana’s effects, stating, “It does cause an IQ problem; you lose IQ points,” according to The Guardian and Reuters. Despite these reservations, he has previously cited friends’ positive experiences with medical marijuana as a reason to keep an open mind about reform.
During his first term, Parnas and Fruman—both later convicted on campaign finance violations for funneling foreign money into Republican campaigns, including Trump’s, in pursuit of marijuana business favors—directly appealed to Trump for help with their cannabis plans. Trump demurred, but the encounter underscores the long-standing interest from both business and political circles in loosening federal marijuana restrictions.
Opposition to reclassification is also mounting, albeit with less financial firepower than the cannabis industry. Anti-drug groups have launched media campaigns warning of potential economic and social downsides, arguing that easier access to marijuana could lead to increased use and public health concerns. Trump’s Drug Enforcement Administration (DEA) chief, Terrance Cole, has so far not listed cannabis rescheduling as a top priority, according to the Cannabis Business Times in July 2025, suggesting that any change would require direct presidential intervention.
From the White House, the official line remains cautious. Spokeswoman Abigail Jackson emphasized on August 10, 2025, that “all policy and legal requirements are being considered,” and that Trump’s decisions are guided by “what is in the best interest of the American people,” as reported by Times Now News. Trump campaign adviser Alex Bruesewitz clarified the nature of the proposal, stating, “It’s simply knocking it down a few notches on the criminal scale,” and stressing that the move would not amount to full legalization or decriminalization, but rather a targeted policy adjustment.
For the cannabis industry, the stakes are enormous. Reclassification would make it much easier to buy and sell marijuana legally, potentially unlocking billions in new revenue for companies like Trulieve and others. It would also pave the way for expanded medical research, a point emphasized by Rivers and other industry leaders at the New Jersey fundraiser. With the legal marijuana market already valued in the tens of billions and growing, industry advocates argue that federal reform is overdue and would bring the U.S. in line with evolving state laws and international trends.
Still, the political calculus is delicate. Trump’s team is keenly aware of the risks of alienating more conservative voters who remain wary of marijuana reform. At the same time, they see an opportunity to frame the issue as one of public health, economic growth, and regulatory modernization—an approach that could help broaden Trump’s coalition heading into the 2026 midterms and beyond.
As of August 10, 2025, no formal decision has been made. The administration is said to be weighing input from a wide range of stakeholders, including law enforcement, public health experts, industry representatives, and advocacy groups on both sides of the debate. According to a White House spokesperson, “all policy options are on the table,” and any move will be carefully calibrated to balance public safety with economic and scientific progress.
For now, the cannabis industry waits—watching closely as the Trump administration deliberates a decision that could reshape the landscape of American drug policy for years to come. With powerful interests aligned on both sides, the outcome remains uncertain, but the debate has already thrust marijuana reform back into the center of national politics, where it is sure to remain a hot topic in the months ahead.
Whatever the decision, it’s clear that the conversation around marijuana in America is evolving, and the next steps taken in Washington could have far-reaching consequences for millions of businesses, patients, and voters across the country.