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.

Trump said Monday he is “looking at reclassification” and “we’ll make a determination . . . I would say over the next few weeks.”

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.