Reclassification to a Schedule III drug and possible Medicare coverage for pot could unlock new investment from pharmaceutical companies.

Pot stocks fell on Monday as investors took profits following a record-setting session.

Donald Trump spoke about the cannabis industry in the Oval Office on Monday

Reclassification to a Schedule III drug and possible Medicare coverage for pot could unlock new investment from pharmaceutical companies.

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

President Donald Trump signed an executive order Thursday reclassifying marijuana as a Schedule III substance with looser restrictions.

The switch would move marijuana away from its current classification as a Schedule I drug, alongside heroin and LSD. Cannabis would instead be a Schedule III substance, like…