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

President Donald Trump on Thursday ordered federal agencies to quickly ease restrictions on marijuana and make CBD more available, the latest indicator of how the once-taboo drugs have increasingly become part of America’s mainstream.

GOP senators urged Trump to keep marijuana classified as a Schedule I drug, warning rescheduling would harm public safety.

Shares of some cannabis firms fell between 3% and 12% at Thursday's close, erasing previous gains from the session, after U.S. President Donald Trump signed an executive order recommending the loosening of federal regulations on marijuana.

President Donald Trump addressed the nation in a televised speech at 8 p.m. CT. He previewed his agenda for next year and beyond in a live address from the White House. His remarks come at a crucial time as he tries to rebuild his steadily eroding popularity.

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.