Experts told ABC News that reclassification of the drug would open the doors to more scientific research by removing current major barriers and may also reduce stigma.

President Donald Trump on Thursday signed an executive order directing that cannabis be moved to a lower drug schedule, a step aimed at easing restrictions on research and lowering its severity, while leaving the drug illegal under federal law.

Canopy Growth stock surged on marijuana rescheduling rumors, then fell after Trump’s order was signed—highlighting profit-taking, delays, and ongoing risks.

The Kansas Bureau of Investigation released a statement saying that growing, distributing or possessing marijuana remains illegal under state and federal law.

Boxing legend Mike Tyson celebrated President Donald Trump's executive order reclassifying marijuana from Schedule I to Schedule III drug status.

The shift to a Schedule III drug opens the door for federal research and allows the industry to bank like other businesses.