(KTLA) — Cannabis stocks jumped Friday as reports emerged that the White House is preparing to ease federal restrictions on marijuana. Some shares soared more than 50 percent on the news that President Donald Trump could reclassify marijuana as soon as Monday.

Currently, marijuana remains heavily restricted at the federal level, even though many states, including California, have decriminalized it to varying degrees.

Under existing federal law, cannabis is classified as highly harmful and addictive — a stance critics call outdated. The expected reclassification would place marijuana in the same category as Tylenol with codeine, a move that could open the door to banking access and lighter regulations for the cannabis industry.

The president is not known to partake in marijuana, so why the shift? History may offer a clue.

Nearly a century ago, President Franklin Roosevelt faced the Great Depression, rising unemployment, and global instability. In December 1933, he repealed Prohibition, recognizing that Americans needed relief and that legal alcohol could generate tax revenue.

Similarly, easing marijuana restrictions today could reflect political savvy, as polls show strong public support for decriminalization, even if not everyone favors full legalization for recreational use.