Pot Stocks Rise on Trump Plan to Ease Cannabis Restrictions (1)

President Donald Trump is expected to direct his administration to move to reclassify marijuana as a less dangerous drug, according to people familiar with the matter, a move that could represent one of the biggest shifts in US policy toward cannabis in decades.

Trump has discussed the plans with Health and Human Services Secretary Robert F. Kennedy Jr. and Centers for Medicare & Medicaid Services Administrator Mehmet Oz, said the people said who weren’t authorized to speak publicly about the talks.

The president has spoken about the idea with industry leaders, the people said, including Kim Rivers, ...