Former president’s video sparks market rally and renewed debate on federal cannabis reform.

Cannabis stocks saw a sharp rise on Monday following former President Donald Trump’s video promoting the use of CBD for seniors and advocating Medicaid coverage for cannabis products. The nearly three-minute clip, posted on Trump’s Truth Social platform, described hemp-derived CBD as a “gamechanger” for pain and stress relief among older adults.

The market reaction was immediate, with major cannabis companies like Canopy Growth, Tilray, and Cronos Group recording strong gains. The AdvisorShares Cannabis ETF (MSOS) also surged, reflecting heightened investor optimism.

Produced by the Commonwealth Project, an organization championing cannabis for senior healthcare, the video praised Trump’s 2018 farm bill that legalized industrial hemp. It emphasized the need to educate doctors, expand Medicare coverage, and support millions of seniors who could benefit from CBD.

The federal cannabis landscape remains complex. Under President Biden, the Department of Health and Human Services requested the DEA to consider reclassifying cannabis, currently a Schedule I drug under the Controlled Substances Act, which deems it high-risk with no accepted medical use. Meanwhile, Trump’s administration had only recently signaled potential interest in reclassification, though no formal steps were taken.

Advocates argue that federal legalization would unlock research opportunities and broaden access, particularly for older Americans. Despite growing state-level acceptance—40 states allow medical cannabis and 24 allow recreational use—federal barriers continue to limit investment, research, and comprehensive medical integration.

Tilray led the Monday rally, jumping over 40%, highlighting the market’s responsiveness to policy signals and the growing recognition of cannabis as a potential medical solution for seniors.