Cannabis ETFs Light Up As Trump Eyes Cannabis Reclassification

Cannabis stocks and ETFs surged after Trump said his administration could reclassify marijuana from Schedule I to Schedule III within weeks, according to Benzinga. The change would ease regulations, cut taxes, improve banking access, and boost medical research. The announcement triggered sharp Monday gains, with major cannabis companies and ETFs posting double-digit jumps. Reclassification could expand the $30 billion U.S. market by allowing tax deductions, improving capital access, and attracting new investors while signaling reduced federal crackdowns. Analysts say such a shift could also encourage state-level legalization, standardize products, and strengthen the medical cannabis sector, keeping cannabis ETFs in focus for both traders and long-term investors.