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Trump Privately Backed Marijuana Rescheduling Since Taking Office: Scotts Miracle-Gro CEO
ByAinvest
Friday, Aug 1, 2025 12:38 pm ET1min read
Scotts Miracle-Gro CEO James Hagedorn revealed that US President Donald Trump has privately expressed support for rescheduling marijuana since taking office in January. Hagedorn cited a conversation with Trump, stating that the President has committed multiple times to advancing a major proposal to reschedule marijuana in the US.
Scotts Miracle-Gro (NYSE: SMG) CEO James Hagedorn has revealed that U.S. President Donald Trump has privately expressed support for rescheduling marijuana since taking office in January. In an interview with Fox Business on Thursday, Hagedorn cited a conversation with Trump, stating that the President has committed multiple times to advancing a major proposal to reschedule marijuana in the U.S.The proposal, made by the Department of Justice during the Biden administration, seeks to reclassify cannabis in a low-risk category under the Controlled Substances Act (CSA). This proposal is currently undergoing review at the U.S. Drug Enforcement Administration (DEA). Despite this, Hagedorn emphasized that Trump has assured him and others that he still plans to support cannabis reforms.
Hagedorn commented on newly named DEA administrator Terrance Cole’s decision not to include cannabis rescheduling as a priority for the agency after his confirmation. He stated, "Well, I think he’s a career law enforcement guy. I’m not surprised by it." Hagedorn added, "I think there’s one person who could change it, and he’s told me and others that he will—and that’s the president of the United States, Donald Trump, who I’m a major fan of."
The Scotts Miracle-Gro Company recently reported its 2025 Q3 earnings, outlining a sustained 3% annual sales growth target and signaling pricing actions for fiscal 2026. However, the stock sank on revenue misses and weak hydroponics sales [1].
References:
[1] https://seekingalpha.com/news/4476693-trump-privately-backed-marijuana-rescheduling-since-taking-office
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