Trump Administration Moves Cannabis to Schedule III for Research Benefits

The Trump administration has proposed reclassifying cannabis from Schedule I to Schedule III, which would allow greater scientific research into its medical applications. This change does not legalize cannabis federally but provides clarity for researchers and patients. The Department of Justice also stated that companies can now deduct expenses under IRS Code Section 280E, potentially improving financial situations for cannabis firms. This policy shift may positively impact companies such as Tilray (TLRY), which is enhancing its medical cannabis segment and expects increased interest from pharmaceutical partnerships.