(Reuters) -U.S. President Donald Trump’s administration is looking to reclassify marijuana as a less dangerous drug, a shift that could ease criminal penalties and reshape the pot industry by lowering tax burdens and making it easier for firms to secure funding.

Trump said on Monday a decision could come within the next couple of weeks.

U.S.-listed cannabis-linked stocks rose in pre-market trading on Tuesday, led by a 13% jump in Canopy Growth. Organigram Global, SNDL, Aurora Cannabis and Tilray Brands gained between 3% and 12%.

WHAT DOES RECLASSIFYING ENTAIL?

Under the Controlled Substances Act, marijuana is listed as a Schedule I substance, meaning it has a high potential for abuse and no current accepted medical use.

Reclassifying marijuana as a less dangerous drug could unlock ban

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