Trump said Monday that he is considering a proposal to move marijuana to Schedule III, the same category as drugs like ketamine and Tylenol with codeine.

U.S. President Donald Trump's administration is looking to reclassify marijuana as a less dangerous drug, a shift that could ease criminal penalties and reshape the pot industry by lowering tax burdens and making it easier for firms to secure funding.

The Trump administration is mulling whether to reclassify marijuana as a less-dangerous drug, a move that could potentially expand its retail sale, according to comments the president made Monday.