In “Trump is stepping carefully into the weeds of marijuana legalization,” James D. Zirin writes at The Hill:

Unlike England, from which we cribbed our legal system, America has a dual sovereignty system — the states and the federal government. Often, this leads to inconsistent statutory regimes.

For example, as of this year, 24 states — including a handful of red states— have legalized cannabis for recreational purposes. Additionally, around 40 states have legalized cannabis for medical use.

Congress was always suspicious of marijuana. The lawmakers bought the testimony of psychiatrists who called it a “gateway drug” used, as beat poet Allen Ginsberg put it, by “angel headed hipsters destroyed by madness starving hysterical naked … looking for an angry fix.”

…Moral perceptions change with the times. Bill Clinton, before taking office, had to confess that he once took a puff but famously claimed that he “didn’t inhale.” Barack Obama openly admitted to smoking marijuana during his youth, discussing it in his 1995 memoir “Dreams from My Father.” He contrasted his behavior with Clinton’s stating, “When I was a kid, I inhaled. That was the point.” The voters elected them anyway.

…Since December, there had been little movement to reschedule the drug, frustrating lobbyists and cannabis producers. But Trump’s executive order aims to move marijuana to the same statutory cabin where some common prescription painkillers like Tylenol with codeine reside.

The announcement did for cannabis stocks what the opening of the Strait of Hormuz did for the broad market. Shares of cannabis industry companies surged, with Canopy Growth rising 23 percent, and Tilray Brands soaring 15 percent.

…Most Americans support relaxing restrictions, but critics note that some support for legalization has eased. In 2022, polls said 60 percent of adults supported legalizing marijuana, including 46 percent of Republicans. This month, an Economist/YouGov poll  reported 53 percent of adults supported legalizing the drug, including 35 percent of Republicans.

…The push for legalization is hardly a new-found social concern. It’s all about the money. Marijuana companies donated at least $1 million to Trump’s inauguration. Industry leaders like Kim Rivers of Trulieve, known as the “Starbucks of weed,” have forged close ties to the administration.

Read more here.