Conservative alarm is fueled by the prospect that Trump will re-regulate marijuana
There is at least one strong sign that President Donald Trump is moving closer to easing federal restrictions on marijuana: Prominent figures in the Republican Party and the MAGA world are confused and angry.
Conservative pundits and social media activists and GOP lawmakers are sounding the alarm this week about Trump’s plans to reclassify marijuana as a Schedule 3 drug.
Trump confirmed Monday that the White House is “looking” at marijuana reform “seriously.”
That would be a “big mistake,” New York Post columnist Miranda Divine told her 854,000 followers on X.
Fox News host Laura Ingraham also petitioned the White House asking Trump to keep the federal law strict and aired a segment that tried to link the use of marijuana to the murder of director Rob Reiner and his wife.
President Trump will address the nation Wednesday night as marijuana heats up again
The exact timing was still the subject of rumors and speculation ahead of the president’s speech scheduled for Wednesday evening, but marijuana reform appears to be imminent, according to several major news networks.
Trump is “expected to sign” an executive order reclassifying marijuana as a non-dangerous drug under federal law on Thursday, CNN reported.
According to NBC News, Trump will direct Justice Department officials to speed up the judicial process that has been stalled since his second term began.
That would bypass some of the executive actions that have slowed the process during the Biden administration, including a formal hearing before a Drug Enforcement Administration judge sought to push back opponents.
Cannabis banking and CBD insurance coverage are also possible
Along with the overhaul, which will exempt cannabis-related businesses from the restrictions of Internal Revenue Code Section 280E, Trump may also hand out a few other gifts to the cannabis industry in his administration.
According to NBC, this could be:
- The protection of banks in accordance with the SAFER Banking Act has been approved several times in the House of Representatives under the control of the Democratic Party.
- Medicare coverage for some CBD treatments, such as those recommended in a video Trump posted on his Truth Social page.
Viewers tell MJBizDaily that the frenzy among Washington experts caused by the possibility of lax drug laws is a strong sign that the rumors are increasingly justified.
The rescheduling is causing confusion among prominent lawmakers such as U.S. Rep. Andy Harris, a Maryland Republican who endorsed the House version of the THC hemp ban Trump signed into law.
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According to Marijuana Moment, during a webcast on Tuesday Harris questioned whether Trump has the legal authority to decriminalize marijuana.
Most legal observers agree that the president has the power to direct Cabinet-level agencies, such as the Department of Justice, to begin the formal rulemaking process under the Executive Procedure Act.
Multistate marijuana operators saw their stock prices rise as much as 50% last week on the news.
