Cannabis stocks lit up Wall Street after Donald Trump backed a push to bring CBD under Medicare.
The former president reposted a three-minute video from The Commonwealth Project, a campaign arguing that older Americans should have access to hemp-derived cannabidiol.
“No sitting president has ever publicly pushed for Medicare to cover cannabinoids, and that alone is historic,” said Adam Stettner of FundCanna.
The market reaction was immediate: the Amplify Alternative Harvest ETF jumped 26%, Tilray surged more than 50%, while Canopy Growth and Cronos also rallied.
The move adds intrigue to an industry already waiting on Washington. Trump has hinted at reclassifying marijuana, while Congress debates stricter hemp rules.
For investors, the endorsement signals momentum toward mainstream recognition.