Trump's decision to move marijuana to Schedule III could ease taxes and expand medical access, but industry leaders warn it may also trigger stricter federal oversight and new legal risks.

Trump's executive order to expedite reclassifying cannabis means wider access to marijuana and that it could be used like any other prescribed drug during the workday.

The executive order would reclassify marijuana from a Schedule I to a less dangerous, Schedule III drug. Business leaders say the move is "long overdue" and it would open the door for more benefits for businesses and consumers.

Trump's executive order moves marijuana to Schedule III, affecting 6 million patients. Cannabis stocks plunge 27% amid fears of Big Pharma entering the market. GOP lawmakers warn of cartel threats.

President Donald Trump has signed an executive order to move cannabis from Schedule I to Schedule III under the Controlled Substances Act

The drug is still not legal, but reclassifying cannabis to a Schedule III substance is expected to spark new innovation and investment.