President Donald Trump is expected to issue an executive order as soon as Monday that would allow for reclassification of weed, a source familiar with the matter told CNBC. Such a move would allow cannabis companies to fall under different tax regulations and encourage investment.

The Washington Post first reported on Thursday that Trump was expected to use an executive order to instruct federal agencies to reclassify marijuana as a less regulated Schedule III drug from a Schedule I. Axios reported the potential reclassification of pot — out of a group that includes heroin and into a lower tier of less dangerous drugs, such as steroids and Tylenol with codeine — would take place early next year.