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00:02President Donald Trump said Monday he is weighing an executive order to reclassify marijuana as a
00:08Schedule 3 substance, confirming reports that surfaced last week, according to Reuters.
00:13Trump said he is strongly considering directing agencies to treat marijuana as a Schedule 3 drug,
00:18a move that could reshape the cannabis market, reduce legal penalties, and expand scientific
00:23research. Cannabis stocks pulled back Monday as investors took profits after several major
00:28cannabis names rallied between 30% and 40% following the initial report last Friday.
00:34Reclassification could ease tax burdens and improve access to capital for cannabis companies
00:39by reducing barriers that currently push them toward costly alternative financing.
00:44For all things money, visit Benzinga.com.
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