DANVILLE, Ky. (WKYT) – President Donald Trump says he is strongly considering signing an executive order rescheduling marijuana to a lower classification.

The move would loosen federal restrictions but not fully legalize the drug.

Robert Matheny, a CBD shop owner and cannabis advocate in Kentucky for over a decade, said the proposal sounds like a positive step for the cannabis industry but doesn’t think it goes far enough.

“Initial reaction is this is a great thing and a positive step for cannabis rights — and that’s what it was made to sound like to be able to get people to laugh and cheer for it,” Matheny said.

Matheny said the president’s looming marijuana reclassification could spell bad news for Kentuckians and the industry as a whole. He said the move would put marijuana products under pharmaceutical control and potentially drive-up prices.

“This puts a big profit margin in for the pharmaceutical industry, and this is a giant gift to from our legislators and our president right now to the pharmaceutical industry,” Matheny said.

Matheny advocates for full marijuana decriminalization, a stance that goes a step further than the one publicly supported by Governor Andy Beshear.

In a July letter to President Trump, Beshear advocated in favor of rescheduling marijuana. In the letter, he said making the rules less restrictive would provide access to cannabis for treatment and allow more research.

The federal government currently classifies marijuana as a Schedule I drug. That classification places it alongside other drugs such as heroin and LSD.

If classified as Schedule III, it would be placed alongside drugs the DEA says have a moderate-to-low potential for physical and psychological dependence such as ketamine and testosterone.

Matheny said even if someone is caught with a Schedule III drug, someone could still be in trouble.

“It’s still a drug. It’s still a pharmacy. If you get caught with over-the-counter pain pills it is still the same as getting caught with fentanyl you got a drug,” Matheny said.

Matthew Bratcher of Kentucky NORML is another marijuana advocate who agrees with Matheny and says legislators should go a step further.

Bratcher said while a meaningful step forward, people would not see full clarity or fairness until cannabis is fully declassified. The longtime cannabis advocate said he will watch to see what is done in Washington.

It’s unclear when Trump will sign the executive order.

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