What does President Trump’s executive order to reclassify marijuana mean for local dispensaries? 

COACHELLA VALLEY, Calif. (KESQ) - President Trump signed an executive order Thursday to reclassify marijuana from a Schedule I to Schedule III drug, a move experts say would open new financial and research opportunities for the drug.

Currently, the Schedule I classifier for marijuana is the Drug Enforcement Administration's most restricted category, and puts marijuana on the same level as heroin, LSD and ecstasy.

The DEA classifies Schedule III substances as having a "moderate to low potential for physical and psychological dependence" along with Tylenol, codeine, testosterone and ketamine.

Experts say the move would ease financial restrictions on weed and specifically in California, lower harsh federal taxes on the recreational drug, open banking services, and expand research opportunities. 

The order does not legalize marijuana federally.

Tonight, News Channel 3 is digging deeper into what the move could mean for local dispensaries and consumers.