The move to Schedule III marks the greatest change to U.S. drug laws since 1970 and represents a new future for the $32 billion cannabis industry.

President Donald Trump signed an executive order reclassifying marijuana from Schedule I to Schedule III, easing restrictions and enabling more medical research.

The president signed an executive order on Thursday to reschedule marijuana to a lower drug classification, one of the most significant changes to drug policy in decades.

President Donald Trump signed an executive order that could reclassify marijuana as a less dangerous drug and allow for more opportunities for research and access to CBD.

President Donald Trump is expected to reclassify marijuana from a Schedule I drug to a Schedule III drug on Thursday, CNN reports. Newsweek contacted the White House for comment via email after office hours.

Marijuana’s classification as one of the most dangerous and habit-forming substances has long drawn criticism.

The order to place cannabis in the same category as Tylenol with codeine marks the most significant change in US drug policy since 1971.