Overview

• President Trump said a decision on moving cannabis from Schedule I to Schedule III will be made in the next few weeks.
• Rep. Greg Steube reintroduced the Marijuana 1-to-3 Act to mandate the attorney general reclassify marijuana within 60 days of enactment.
• A pending interlocutory appeal and the cancellation of the DEA hearing by Judge John Mulrooney continue to stall the formal rulemaking process.
• Shares of publicly traded cannabis companies, including Trulieve, surged following news of the rescheduling push.
• Industry experts say Schedule III classification would ease research and allow Section 280E tax deductions while bringing non-FDA-approved products under FDA drug regulations.