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Multiple news reports this week said that President Trump is expected to reclassify marijuanas drug scheduling, which would lessen restrictions on its use and potentially allow companies that operate in the cannabis space to increase business. After the news broke, the stock prices of several cannabis industry companies skyrocketed. Heres what you need to know. Whats happened? On Thursday, multiple outlets reported that the Trump administration is considering reclassifying marijuana from its current level as a Schedule I drug to a Schedule III drug. The Washington Post was the first to report on the potential reclassification, citing six sources familiar with the matter. As with most things Trump does, he is expected to issue a reclassification directive via an executive order. While the Post notes that the rescheduling would not legalize marijuana on a federal level, it would loosen restrictions on its use and potentially be a boon to companies operating in the burgeoning cannabis space. A White House official told Fast Company Friday that no final decision has been made on the reclassification. Marijuana could go from Schedule I to a Schedule III drug If the reclassification goes ahead, marijuana would be reduced from a Schedule I classification level to a Schedule III. A Schedule I drug is any drug with no currently accepted medical use and a high potential for abuse, according to the United States Drug Enforcement Administration (DEA). Drugs in this category include ecstasy, heroin, LSD, peyote, and, currently, marijuana, among others. A Schedule III drug is a drug with a moderate to low potential for physical and psychological dependence, the agency notes. Current Schedule III drugs include anabolic steroids, ketamine, testosterone, and Tylenol with codeine. If the rescheduling of marijuana does go ahead, it will then be lumped in with products such as Tylenol with codeine as far as classification goes. That would make marijuana less regulated than Schedule II drugs like Adderall, cocaine, Demerol, fentanyl, OxyContin, Ritalin, and Vicodin. Cannabis stocks get high after reclassification reports As CNBC notes, the reclassification of marijuana from a Schedule I to a Schedule III drug would have economic advantages for cannabis companies, mainly in the form of different tax regulations. It could also help spur investment in those companies as stigma further reduces around the use of cannabis products. Today, in early-morning trading, investors in those companies are cheering the news. Numerous cannabis industry firms are seeing their stock prices soar as of the time of this writing, including: Aurora Cannabis Inc. (Nasdaq: ACB): up 12% Canopy Growth Corporation (Nasdaq: CGC): up 30% cbdMD, Inc. (NYSE: YCBD): up 77% Tilray Brands, Inc. (Nasdaq: TLRY): up 28% However, it’s worth mentioning that while cannabis stocks are flying high today, there is no guarantee from the administration yet that marijuana will be reclassified. Leaving marijuana classified as a Schedule I drug could weigh heavily on cannabis companies stock prices in the months ahead. And even with todays price jumps, cannabis companies have had a pretty horrible run over the past five years as far as their share prices are concerned. Aurora Cannabis shares are currently down 94% over the past 60 months. Canopy Growth Corporations shares are down 99% during that same time. Meanwhile, Tilray Brands is down 85% and CbdMD is down 99% during the same period.
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President Donald Trump signed an executive order Thursday aimed at blocking states from crafting their own regulations for artificial intelligence, saying the burgeoning industry is at risk of being stifled by a patchwork of onerous rules while in a battle with Chinese competitors for supremacy.Members of Congress from both parties, as well as civil liberties and consumer rights groups, have pushed for more regulations on AI, saying there is not enough oversight for the powerful technology.But Trump told reporters in the Oval Office that “there’s only going to be one winner” as nations race to dominate artificial intelligence, and China’s central government gives its companies a single place to go for government approvals.“We have the big investment coming, but if they had to get 50 different approvals from 50 different states, you can forget it because it’s impossible to do,” Trump said.The executive order directs the Attorney General to create a new task force to challenge state laws, and directs the Commerce Department to draw up a list of problematic regulations.It also threatens to restrict funding from a broadband deployment program and other grant programs to states with AI laws.David Sacks, a venture capitalist with extensive AI investments who is leading Trump’s policies on cryptocurrency and artificial intelligence, said the Trump administration would only push back on “the most onerous examples of state regulation” but would not oppose “kid safety” measures. What states have proposed Four states Colorado, California, Utah and Texas have passed laws that set some rules for AI across the private sector, according to the International Association of Privacy Professionals.Those laws include limiting the collection of certain personal information and requiring more transparency from companies.The laws are in response to AI that already pervades everyday life. The technology helps make consequential decisions for Americans, including who gets a job interview, an apartment lease, a home loan and even certain medical care. But research has shown that it can make mistakes in those decisions, including by prioritizing a particular gender or race.States’ more ambitious AI regulation proposals require private companies to provide transparency and assess the possible risks of discrimination from their AI programs.Beyond those more sweeping rules, many states have regulated parts of AI: barring the use of deepfakes in elections and to create nonconsensual porn, for example, or putting rules in place around the government’s own use of AI. Jonathan J. Cooper, Associated Press
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Soccer fans have accused FIFA of a “monumental betrayal” after latest prices for World Cup tickets began to circulate on Thursday.The governing body allocates 8% of tickets to national associations for games involving their team to sell to the most loyal fans.And a list published by the German soccer federation revealed prices ranged from $180-$700 for varying group stage games. The lowest price for the final was $4,185 and the highest was $8,680.Those group-stage prices are very different from FIFA’s claims of $60 tickets being available, while the target from United States soccer officials when bidding for the tournament seven years ago was to offer hundreds of thousands of $21 seats across the opening phase of games.Fan organization Football Supporters Europe (FSE) described the current prices as “extortionate.”“This is a monumental betrayal of the tradition of the World Cup, ignoring the contribution of supporters to the spectacle it is,” it said in a statement.The English Football Association shared pricing information with the England Supporters Travel Club (ESTC) on Thursday evening, which showed that if a fan bought a ticket for every game through to the final it would cost just over $7,000.FIFA said in September that tickets released through its website would initially range from $60 for group-stage matches to $6,730 for the final. But those prices are subject to change as it adopts dynamic pricing for the first time at the World Cup.FIFA tickets are available in four categories, with the best seats in Category 1.In the price list published by the German federation, there were only three categories.The lowest priced ticket was $180 for Germany’s opening group game against Curacao in Houston. The lowest price for the semifinal was $920 rising to $1,125.The FSE called on FIFA to immediately halt ticket sales via national associations “until a solution that respects the tradition, universality, and cultural significance of the World Cup is found.”The Associated Press approached FIFA for comment. Latest phase FIFA launched its third phase of widespread ticket sales Thursday, with fans now able to apply for specific matches for the first time through its “Random Selection Draw.”Following last week’s draw for the 2026 tournament, which will be co-hosted by the United States, Canada and Mexico, an updated schedule has been published.That means fans know when and where the likes of Lionel Messi and Argentina will play. Previous ticket ballots were blind as the qualification period had not even been completed and the draw was yet to take place.Now participating nations have been placed in groups, with their paths through the tournament determined. For instance, Messi and Cristiano Ronaldo could go on to meet in the quarterfinals in Kansas City if both Argentina and Portugal top their respective groups.Not that fans are guaranteed to get tickets to the games they apply for.The draw opened Dec. 11 at 11 a.m. ET (1600 GMT) and closes Jan. 13, 2026.FIFA says ticket applications can be made at any point during this window and the timing of entry will not impact the chances of success. Fans can apply via FIFA’s website for a maximum of four tickets per household per match and a maximum of 40 tickets throughout the tournament.Fans will need a FIFA ID to apply for tickets and can pick which matches and which pricing category they want to apply for.Successful applicants will be notified by email in February and charged automatically. Prices The last time the U.S. hosted the World Cup in 1994 prices ranged from $25 to $475. In Qatar in 2022 prices ranged from around $70 to $1,600 when ticket details were announced.Tickets for the final at MetLife Stadium on July 19 are already going for in excess of $11,000 on secondary resale sites.For this tournament FIFA has also set up its own resale platform where it charges a 15% fee based on the total resale price.FIFA said that closer to the tournament any remaining tickets will go on general sale on a first-come, first-served basis.It did not reveal a time frame for the release of those remaining tickets. AP Sports Writer Graham Dunbar in Geneva contributed to this report. AP soccer: https://apnews.com/hub/soccer James Robson is at https://x.com/jamesalanrobson James Robson, AP Soccer Writer
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