The move to Schedule III marks the greatest change to U.S. drug laws since 1970 and represents a new future for the $32 billion cannabis industry.

Cannabis companies like Tilray Brands and Canopy Growth could soon face a more mellow path ahead following President Donald Trump's move to help reclassify the drug's status.

The cannabis industry has moved from the fringe to the mainstream in just a few years, with legal medical markets growing across the world and ongoing research into new therapeutic uses. On the Australian Securities Exchange (ASX),

Some cannabis stocks are outperforming despite a weak sector, with legalization catalysts and market positioning driving selective upside.