A White House spokesperson has confirmed to Marijuana Moment that President Donald Trump is “currently expected to address marijuana rescheduling” on Thursday, though they added that “any details of this potential action until officially announced by the White House are speculation.

President Donald Trump is expected to address the potential loosening of federal regulations on marijuana on Thursday, according to a White House official, setting up a decision that could sharply reverse decades of U.

Cannabis stocks surged on Friday following reports that President Trump plans to push to ease federal restrictions on marijuana. The White House is expected to direct federal agencies to reclassify cannabis as a less-dangerous drug,

Lobbying, political donations and old-fashioned friendships went into persuading the famously sober president.

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

President Donald Trump is set to address the nation at 9 p.m. ET on Wednesday night in a live speech from the White House. Follow Newsweek live.