Multiple news reports this week said that President Trump is expected to reclassify marijuana’s drug scheduling, which would lessen restrictions on its use and potentially allow companies that operate in the cannabis space to increase business.

After the news broke, the stock prices of several cannabis industry companies skyrocketed. Here’s what you need to know.

What’s happened?

On Thursday, multiple outlets reported that the Trump administration is considering reclassifying marijuana from its current level as a Schedule I drug to a Schedule III drug.

The Washington Post was the first to report on the potential reclassification, citing six sources familiar with the matter.

As with most things Trump does, he is expected to issue a reclassification directive via an executive order.

Wh

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