President Donald Trump is reportedly weighing the reclassification of marijuana as a less dangerous controlled substance.
According to a report published last week by The Wall Street Journal, the move comes after marijuana companies poured substantial sums into his political entities.
Trump said during a fundraiser hosted at his golf club in New Jersey, where tickets sold at $1 million per plate, that he was considering a change in how the federal government treats marijuana.
The substance is presently banned at the federal level as a Schedule I drug under the Controlled Substances Act.
That means marijuana is the same category as drugs like heroin and LSD.
Schedule I drugs are classified as “drugs with no currently accepted medical use and a high potential for abuse,” according to a webpage for the Drug Enforcement Agency.
Trump may seek to decrease marijuana to a Schedule III drug, unnamed sources told The Wall Street Journal.
That would mean substances “with a moderate to low potential for physical and psychological dependence,” per the Drug Enforcement Agency.
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Other Schedule III drugs include ketamine, anabolic steroids, and testosterone.
The swanky fundraiser was attended by Kim Rivers, the CEO of Trulieve, who reportedly persuaded Trump to expand research into medical marijuana.
Other attendees included the CEO of Pfizer, cryptocurrency executives, and Trump administration advisers.
Sources also told The Wall Street Journal that Trump said he would vote in favor of marijuana legalization in Florida last year.
The ballot measure, which offered citizens the chance to enshrine legalized marijuana into the Florida state constitution, narrowly failed to gain the 60 percent majority among voters needed for approval.
That endorsement came after Trump met with lobbyist Brian Ballard, and Trulieve wrote a massive check to his campaign.
One adviser for Trump told The Wall Street Journal that beyond the political alliance with marijuana growers, the commander-in-chief is on the lookout for more “80-20 cultural issues.”
Abigail Jackson, a spokeswoman for the White House, told The Wall Street Journal to let Trump continue with the process.
“All policy and legal requirements and implications are being considered. The only interest guiding the president’s policy decisions is what is in the best interest of the American people,” she said.
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