###

After spending the past 55 years as a Schedule I substance — the most restrictive category of drugs, grouped in with heroin and LSD — cannabis is about to get downgraded to Schedule III, easing restrictions on the Emerald Triangle’s favorite drug, according to numerous news outlets. 

ABC News, for example, cites senior administration officials in reporting that President Donald Trump will sign an executive order to that effect as soon as today or tomorrow.

Reclassifying marijuana would “ease tax burdens, banking limits and research barriers,” according to CNBC. Restrictions on bank financing have been a huge hurdle for licensed cannabis farmers. Restrictions from the IRS prohibit weed-related businesses from deducting standard expenses.

Trump’s executive order may also pave the way for a Medicare pilot program giving some seniors access to (and reimbursement for) cannabidiol (CBD), the non-psychoactive compound that’s already popular in a wide array of wellness industry products.

At recent local government meetings, financially struggling cannabis farmers have expressed hope for federal legalization, saying “normalization” of the crop could give them a leg up over black market growers. Rescheduling wouldn’t go that far, but it would certainly be a step in that direction, allowing for scientific studies and looser business regulations.