Marijuana could soon be treated as a less dangerous drug under US law, as President Donald Trump is expected to direct one of the biggest federal shifts in cannabis policy in decades.

Trump has reportedly discussed the idea with marijuana industry executives, Health and Human Services Secretary Robert F. Kennedy Jr and Centers for Medicare & Medicaid Services Administrator Mehmet Oz, Bloomberg reported.

Cannabis stocks surge on speculation

Amid speculation of the reclassification decision, shares of cannabis companies have surged in premarket trading.

Tilray Brands Inc gained 33% as of 8:22 AM in New York and Canopy Growth Corp advanced 27% at the same time.

While marijuana is still illegal at the federal level, state rules vary widely. According to the National Conference of Stat

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