On August 11–12, 2025, President Donald Trump made his first public remarks of this term about federal cannabis policy, telling reporters the administration is “looking at” reclassifying marijuana and will “make a determination over the next few weeks.” He also called the topic “early” and “very complicated,” signaling interest without a firm commitment or timeline. MORE ABOUT: ABC News, Al Jazeera, Marijuana Moment

Those comments mark the clearest signal so far from the new administration that rescheduling is on the table—an issue that has percolated since federal health officials under the prior administration recommended moving marijuana from Schedule I to Schedule III in 2023 and DEA issued a proposed rule in 2024. LEARN MORE ABOUT: Moritz College of Law

What exactly did he say (and why it matters)

Trump’s brief talking points were straightforward:

• The administration is considering reclassifying marijuana to a less restrictive schedule.
• A decision could come “over the next few weeks.”
• The issue is complex and still in early review.

Politically, observers note the White House is testing whether a calibrated move on cannabis could broaden appeal without embracing full legalization. Axios, for example, frames this as part of a broader push to attach some “progressive-sounding” consumer issues to the MAGA brand while keeping options open. READ MORE: Axios

Where the rescheduling process stands right now

To understand the path ahead, it helps to trace the recent paper trail:

1. October 2022–August 2023: HHS completed a scientific review concluding cannabis has accepted medical use and recommended Schedule III.
2. May 2024: DEA proposed moving cannabis to Schedule III and opened public comment—an initial but not final step.
3. January–July 2025: Under the new administration, the process slowed. A January 21, 2025 administrative hearing slated to follow the proposal was canceled days before the inauguration, and by July, DEA told an agency judge the matter remained stalled. READ MORE HERE: CannaCon, Marijuana Moment
4. Leadership signals: Trump’s DEA pick, Terrance Cole, said at his confirmation hearing that rescheduling status would be among his first priorities—but after he was sworn in, the agency’s initial priority list omitted rescheduling, adding to uncertainty. READ MORE ABOUT: Dentons, Cannabis Business Times

Trump’s new remarks therefore matter because they revive momentum—and will likely force clarity about whether DEA: (a) finalizes Schedule III, (b) reopens the record for more hearings, or (c) withdraws or modifies the 2024 proposal.

What Schedule III would (and wouldn’t) do

If the administration ultimately finalizes Schedule III, several concrete changes would follow:

• Tax relief (goodbye, 280E): State-legal cannabis firms could deduct ordinary business expenses, ending a costly handicap under IRS Section 280E and materially improving profitability. MORE TO READ HERE: Reuters
• Easier capital access: Analysts expect the shift to attract more institutional capital, lower borrowing costs, and spur M&A, though many constraints would remain because cannabis would still be federally controlled.
• No nationwide adult-use market overnight: Schedule III does not legalize interstate commerce or resolve the conflict with state laws; those require congressional action or further federal rulemaking. Advocacy groups and legal analysts emphasize that rescheduling is meaningful but not full legalization.

The near-term outlook

Despite the President’s “weeks” comment, practical timelines depend on administrative law mechanics. After a proposed rule, DEA can: review comments, hold (or waive) hearings, finalize or revise the rule, and send it to the Office of Management and Budget before publication. The stop–start pattern so far—canceled hearings and a “stalled” notice to the ALJ—suggests internal deliberations are ongoing.

Two developments to watch:

• Congressional nudge: Rep. Greg Steube (R–FL) has filed the “Marijuana 1-to-3 Act” to legislatively move cannabis to Schedule III—creating a parallel track that could validate or pressure the administrative process.
• Market signaling: Coverage from Reuters and others indicates investors are already positioning for a Schedule III outcome (banking, taxes, consolidation), even as full legalization remains unlikely in the short run.

What Trump’s early framing hints at

Reading between the lines of Trump’s first comments—and the surrounding reporting—three themes emerge:

1. Calibrated openness: Saying the issue is “complicated” while promising a near-term determination keeps options open and reduces political downside if the administration lands on a modest, compliance-focused Schedule III rule rather than a sweeping reform.
2. Coalition testing: Framing rescheduling as pragmatic (medical recognition, tax fairness, public safety) could appeal to a broad majority—Pew Research shows enduring national support for medical and adult use—while avoiding a culture-war backlash that full legalization might provoke. (Axios captures this strategic repositioning explicitly.) MORE ABOUT HERE: Axios
3. Agency dynamics: Mixed signals from DEA leadership—priority in hearings vs. omission on the formal agenda—imply internal caution. If the White House wants speed, expect a clearer directive to DEA and DOJ in the coming weeks.

Bottom line

Trump’s first on-record remarks this term put cannabis back on the front burner: rescheduling is under review, a decision is promised “in weeks,” and a GOP bill now mirrors the administrative ask. A final Schedule III rule would be a historic shift—especially for taxes and capital markets—but it won’t create federal legalization or interstate commerce by itself. Watch for whether DEA schedules new hearings or moves straight to a final rule, and whether the White House expands its messaging beyond “we’re looking at it” to tie rescheduling to specific goals (patient access, law-enforcement priorities, small-business compliance). For now, the center of gravity has moved from if to how fast—and how far.