Plant Medicine Is Having Its Federal Moment, and Cannabis and Ibogaine Are Leading It Together

The Trump administration issued two executive orders within four months, marking a significant shift in federal cannabis policy and drug scheduling. The orders directed the Attorney General to reschedule cannabis from Schedule I to Schedule III and established a patient access pathway for psychedelic compounds like ibogaine under the Right to Try Act. Cannabis rescheduling remains proposed, and hearings are pending. A February 2026 analysis confirmed that Schedule III status would bring relief from the Section 280E tax burden and expanded research access. Veterans advocacy drove the policy changes, with organizations like VETS securing over $124 million in public funding for psychedelic research. States like Texas and Utah have also passed legislation supporting ibogaine research and psychedelic-assisted therapy for veterans with PTSD.