On September 28, President Donald Trump posted a Truth Social video praising CBD as a “game-changer” for seniors. 

The post sent cannabis stocks soaring, with one company’s shares climbing more than 40 percent, and added to speculation over whether he will follow through on his campaign pledge to reclassify cannabis under federal law.

The video the President shared was created by The Commonwealth Project, a pro-cannabis organization founded by Howard Kessler, who is a friend of the President described in the press as being part of his “inner circle.” Kessler and his wife attended Trump’s 2005 wedding to Melania and are longtime members of his Mar-a-Lago club.

In 2017, after Trump was elected but before he was inaugurated, Kessler wrote a letter to the editor of the Palm Beach Daily News, urging readers to continue supporting charity events at Mar-a-Lago and to prioritize their philanthropy over politics. 

We first became acquainted with Donald Trump and Melania Knauss before they were married and have enjoyed their friendship since. Donald Trump has always had strong beliefs in “Making America Great Again” and now, after being elected our 45th president, he will have that opportunity. The campaign was hard-fought and contentious, but it is over. President Trump deserves our respect and support, especially here in Palm Beach, where he will have his Winter White House.”

In 2017, at a White House Historical Association Reception, the President referred to Kessler as “my Howard.’

The video promoted by the President this week says CBD can help “restore” the body’s endocannabinoid system and ease pain, improve sleep, and reduce stress for older Americans. It notes that “20 percent of seniors are already using CBD today for pain, arthritis, cancer symptoms, sleep disorders, Alzheimer’s, and many other ailments of aging.”

According to its website, The Commonwealth Project is “working to prioritize the 65+ population by integrating medical cannabis into mainstream health care for seniors.”

Kessler believes “that medical cannabis could be harnessed to not only provide older Americans with an alternative to traditional prescription painkillers but to reduce soaring health care costs saddling millions of seniors.” 

The video calls hemp-derived CBD the “most important senior health initiative of the century.” It suggests that the U.S. healthcare system would save $64 billion if cannabis were fully integrated into the system.

... Older adults are suffering needlessly. Hemp-derived CBD can help them feel better, live longer, and improve their quality of life significantly.”

A Boston- and Palm Beach-based entrepreneur and philanthropist, Kessler began his career as a shoe salesman before founding Kessler Financial Services, which helped pioneer affinity credit cards. He later secured one of Massachusetts’ first medical marijuana licenses in 2014 and became the state’s first recreational seller before his company was acquired by a Georgia cannabis firm in 2019. 

In June 2024, Kessler appeared on Fox Special Report with Bret Baier about his efforts to integrate medical cannabis into traditional health care for seniors.

During his presidential campaign in September 2024, candidate Trump voiced support for cannabis rescheduling. He also endorsed Florida’s Amendment 3, which would legalize adult-use of cannabis in the state, and the SAFER Banking Act, which would allow cannabis businesses access to the financial system.

On August 11, 2025, in a news conference held in the White House briefing room, the President made very brief remarks:

“We're looking at reclassification, and we'll make a determination over the next -- I would say over the next few weeks, and that determination hopefully will be the right one. It's a very complicated subject.” (IVN coverage, August 2025)

Trump’s nominee to lead the DEA, Terrance Cole, testified at his Senate confirmation hearing that rescheduling is a priority. Still, he later walked that back, and he has not committed publicly to anything. (IVN coverage, April 2025)

Most observers believe the President will insist that the DEA move cannabis from Schedule I, where it has been locked since 1971 alongside heroin, to Schedule III. 

Because the federal government still treats cannabis as more dangerous than fentanyl, cocaine, or meth, legal corporations in the United States have been unable to deduct ordinary business expenses on their federal tax returns. IVN reported in April 2025 that this tax stranglehold has left legal operators unable to compete with the criminal cartels that supply illicit cannabis. (IVN coverage, April 2025)

If Trump makes his move, the balance of power in the cannabis trade could change overnight. One decision in Washington could hit the cartels harder than any Senate brawl in Mexico City.

There was more good news for legal cannabis businesses when California Governor Gavin Newsom reversed a 25 percent tax hike on cannabis with the stroke of a pen on September 22. All of a sudden, an industry that has been treading water has reason to be optimistic.

The Commonwealth Project’s video makes a direct appeal to the president. “You will deliver the most important senior health initiative of the century, cementing your legacy and transforming aging care,” the video says, addressing Trump. “Millions everywhere will thank you.”

Rescheduling cannabis would be one of the most significant drug policy changes in decades. It would give the President a tangible policy win that transcends traditional right and left political divides and could boost his popularity with voters. It would also hurt the illegal drug cartels. It remains to be seen if he will deliver what even Democratic Presidents Carter, Clinton, Obama, and Biden could not. For now, he’s keeping the markets and the electorate guessing.