Trump is expected to tell agencies to reclassify marijuana as a Schedule III drug, The Washington Post reported on Thursday. Such a move would allow cannabis companies to fall under different tax regulations and encourage investment, while placing pot in a class of drug that includes steroids and Tylenol with codeine.

President Trump's executive order comes as Governor DeSantis pushed state lawmakers to introduce an "AI Bill of Rights" next session. Critics say the White House cannot block states in this manner, unless congress actually passes a law.