Trump’s Drug Executive Order and What It Means for Cannabis

The White House drug executive order, signed by President Donald Trump on Saturday, aims to speed up research on drugs like psilocybin, ecstasy and ibogaine, helping to legitimize an industry that has long been largely underground.

But it also raises a broader question: Will psychedelics fall victim to a slow-moving federal process, as happened with cannabis?

The latest executive order comes after nearly four months of efforts by President Donald Trump to reschedule cannabis, opening the door to more research and investment opportunities. But since that guidance, progress on reclassifying cannabis has largely stalled, with DEA ​​review continuing and no final decision on moving marijuana from Schedule I to the lower Schedule III.

This delay reflects how drug policy often slows down once it enters the interagency review stage, where scientific evaluation, legal standards and policy meet.

“The process has been slow and certainly frustrating for stakeholders when you consider that they spent decades fighting the egregious 1970s-era misclassification of marijuana,” said Shawn Hauser, a partner at cannabis law firm Vicente LLP.

Vicente LLP also serves as legal counsel to the National Council for Compassionate Care (NCCC), a coalition of healthcare stakeholders focused on evidence-based cannabis policy.

However, the psychedelic system focuses on accelerating research rather than legalizing it. It directs agencies like the U.S. Food and Drug Administration to expand clinical trials and “right to try” access to patients with serious mental health conditions, while leaving the drug schedule unchanged.

Ataybikli It is among a number of psychedelic-focused drug developers that have been rallying since the application was signed over the weekend, up nearly 25% on Monday. Many smaller-cap stocks also jumped, including… Compass paths, Divinium treatments Cybin shares are listed in the United States.

The latest drug order reflects a broader shift in Washington toward a primary medical framework, and could represent a path forward for cannabis rescheduling, Hauser said.

“The science-first, patient-first, healthcare-first approach is winning in Washington right now,” she said.

“The cannabinoid pathway — built on physical protocols, clinical research, and compassionate use frameworks — is actually a model that cannabis advocates should study and embrace more vigorously,” Hauser said.

Trump’s drug measure has drawn particular attention for its inclusion of ibogaine, a powerful naturally occurring psychoactive compound with longstanding safety concerns.

The drug is being studied for use in treating PTSD, depression and addiction, but the cardiac risks, noted Nora Volkow of the National Institute on Drug Abuse, remain a major barrier.

This tension is exacerbated by expanding access to “right to try,” a federal law that allows patients diagnosed with life-threatening diseases or conditions to try experimental drugs when no other treatments have worked. This distinction usually applies only after successful phase I trials.

Ibogaine has struggled to meet these standards, as most of the research on the drug has been conducted outside the United States

Psychedelic industry leaders say it makes sense, but the full effects remain unknown until implementation is done to prove its scientific value.

“The opportunity now is not just hype, but implementation: rigorous science, disciplined safety standards, physician-led protocols, and real-world outcomes data,” said Tom Vigil, CEO of the Center for Clinical Neurohealth at Beond.

Beyond, based in Cancun, Mexico, specializes in ibogaine therapy.

While the executive order signals legitimacy at the highest level of government, the next phase is crucial, Feigel added.

Psychedelics still lack a commercial market, despite the emergence of clinical-stage developers, such as AtaiBeckley, Compass, and GH Research. Many are prioritizing research on less controversial psychedelics like psilocybin and MDMA derivatives to treat mental health.

The American states were also studying the area. Colorado introduced regulated access to the drug for its residents in 2022, while a ballot measure in Massachusetts failed in 2024 with 56% of voters rejecting access.

Cannabis, under contract, already has a multibillion-dollar adult-use industry in dozens of states, giving it a significant head start even as federal rescheduling remains unresolved.

Ultimately, the two industries reinforce each other, Hauser said.

“The two regulatory paths are not mutually exclusive,” she said. “Both promote the broader legitimacy of plant-based alternative medicines, and the infrastructure built for one will inevitably support the other.”