Marijuana may soon be reclassified as a schedule III drug, and the news has pushed cannabis ETFs, ahem, higher. The Trump administration’s potentially friendlier stance on bud follows a similar initiative to downgrade the drug from its current schedule I status, which eventually vaporized during the Biden administration. The likely rescheduling would mean more medical research for cannabinoids, and crucially for an industry operating in a gray legal area, it could dramatically reduce taxes. “There are s ...