Pot stocks are soaring on news that Trump is set to ease federal restrictions

• Cannabis stocks are up on reports that the government could reclassify the drug.

• Tilray, Cronos, and Canopy Growth all spiked on the news.

• It’s not the first time regulatory hopes have driven big gains in weed stocks.

Pot stocks are in the green on Friday on news that the White House is considering loosening regulations on cannabis.

President Donald Trump reportedly spoke to House Speaker Sen. Mike Johnson in a phone call on Wednesday, discussing plans to dramatically lower regulatory oversight on cannabis and its derivatives, giving them the same classification as many standard prescription painkillers.

It’s also not the only bullish regulatory development for pot stocks. A proposed bill sponsored by a Florida congressman could allow state residents to cultivate their own cannabis at home. While both catalysts are still speculative, investors are piling in.

Here are the cannabis stocks that are up big on Friday:

• Tilray Brands: +39%

• Canopy Growth Corporation: +31%

• Aurora Cannabis: +24%

• Cronos Group: +19%

• Innovative Industrial Properties: +9%

Republicans have historically been against easing cannabis restrictions. When Trump was first elected in 2016, and again in 2024, his win was regarded as bearish for cannabis stocks, but his latest shift is now boosting the whole sector.