Trump Push for Medicare CBD Sparks Cannabis Rally

Shares of cannabis companies and cannabis-focused ETFs jumped sharply after President Donald Trump shared a nearly three-minute video from The Commonwealth Project arguing that hemp-derived CBD should be covered by Medicare and touting its benefits for seniors. Major U.S. and Canadian names including Tilray, Canopy Growth, Aurora, Curaleaf, Cronos, Trulieve and Charlotte’s Web posted double-digit gains, with some moves approaching or exceeding 30–40%, while the AdvisorShares Pure U.S. Cannabis ETF rallied more than 20% and is headed for its strongest quarter on record. The clip, circulated on Truth Social, criticized prescription drugs and may have eased investor concerns about policy risk, driving social-media momentum behind the rally. Traders and analysts noted the move follows Trump’s earlier comments about possibly reclassifying marijuana — a change that could ease tax burdens under Section 280E and help U.S. listings — but stressed that no formal policy action has been taken. Congress is simultaneously weighing tighter hemp/CBD rules, and market watchers cautioned the sector remains volatile with many companies still unprofitable, leaving the outlook uncertain.