President Donald Trump is considering reclassifying marijuana as a less dangerous substance, the Wall Street Journal reported, citing people familiar with the discussions. The change would move cannabis from Schedule I—reserved for drugs deemed to have no accepted medical use—to Schedule III, a category that includes substances such as ketamine and would sharply reduce federal restrictions on the industry. Trump signaled his interest at a $1 million-per-plate fundraiser at his golf club in New Jersey earlier this month, according to the report. Among the attendees was Kim Rivers, chief executive of Trulieve Cannabis, who urged the president to pursue the shift and expand medical-marijuana research. Reclassification would allow cannabis companies to claim federal tax deductions, ease access to banking services and broaden research opportunities. The Biden administration had begun a similar review but left office before completing it. A White House spokesperson said the current policy process is still underway and that all legal and public-health considerations are being weighed before any final decision is made. Medical marijuana is legal in at least 40 states, and 24 states plus Washington, D.C., permit recreational sales.