DEA

King_Chron

The SunStream joint venture contributed a profit and higher other comprehensive income, lifting the investment segment * **SunStream restructuring progress**: As U.S. cannabis rescheduling gains momentum, the restructuring of the Parallel and Skymint investments continues to advance toward completion, with only a limited number of remaining requirements outstanding. * As of March 31, 2026, the Company has deployed capital to a portfolio of cannabis-related investments with a carrying value of $410.1 million, including $395.4 million to SunStream Bancorp Inc. (“**SunStream**”). This carrying value was increased by $12.5 million during the first quarter of 2026, primarily due to an increase in the USD to CAD exchange rate from 1.3706 on December 31, 2025 to 1.3939 on March 31, 2026. * The previously disclosed restructuring process relating to Skymint continues. On April 1, 2026, the Michigan Supreme Court has agreed to hear oral argument on applications for leave to appeal. The Court has not reached a decision on the merits. Timing and outcomes remain uncertain and are subject to court process and other factors. * The previously disclosed restructuring process relating to Parallel continues. On February 4, 2025, the Florida Department of Health approved the transfer of Parallel’s license, representing an important milestone in completing Parallel’s restructuring process. In December 2025, a settlement was reached resolving the final remaining litigation, and SNDL currently expects the strict foreclosure process to close in Q3 2026, subject to completion of remaining steps, satisfaction of applicable conditions, and any required approvals. * The investment portfolio generated a positive operating income of $2.0 million in the first quarter of 2026, primarily driven by interests earned from our cash accounts. * On April 23, 2026, the DOJ and DEA issued an order placing FDA-approved cannabis products and state-regulated medical cannabis in Schedule III, while launching an expedited process to reschedule all cannabis from Schedule I. This move is expected to eliminate 280E tax burdens, expand research, improve regulation, and enhance access to capital, strengthening the industry outlook, with direct relevance to SNDL given its exposure to core US medical markets through its SunStream credit exposure.

SuzyCreamcheezies

This is exactly what I am thinking. However, I'm unclear on whether LPs (or any non-MSO) would be able to register with the DEA if they do not have an existing state-medical license.

UsedState7381

I wouldn't be surprised at all if Trulieve ends up being the first to get registered by the DEA and allowed to uplist, given Kim's connections with the WH. And she has earned that tbh. At the same time, I think this is just the ETF repositioning with a much stronger TCNNF bias now, look at that Curaleaf dump. I don't know, but I think we will be discovering soon.

Apprehensive_Low_66

Probably will see LP’s apply for DEA permits to ship from GMP facilities and likely to see mso’s apply for export permits too. Maybe details will come out in next few weeks

BoJo_Nose6969

Just listened to Pablo Zuanic with Charlie Bachtell fireside chat from today.  It's pretty clear that medical cannabis is federally legalizes pursuant to registration with DEA and compliance with the state medical cannabis program.  As of April 22 it's legal, there's no ambiguity here.

SuzyCreamcheezies

An interesting little detail I found while browsing a [law firm's post](https://www.sheppard.com/insights/blogs/dojs-april-2026-cannabis-order-what-it-does-and-what-it-does-not-do) on schedule 3. "This order amends 21 CFR 1312.30 to add FDA-approved marijuana products and state-licensed medical marijuana to the list of nonnarcotic Schedule III through V controlled substances subject to the import and export permit requirement. DEA-registered operators will be eligible to apply for import and export permits, opening access to international markets for the first time." Who thinks we see MSOs applying for international export permits (and retooling for GMP certification)? And LPs applying to import from their Canadian facilities? Something to watch.

Blowoutgamesnj

Could anyone clarify how Canadian LPs would sell medical cannabis in the US under this order? Would they need to apply for a DEA import permit?

RandomGenerator_1

"Lots of questions, no answers yet." "Wish I had more confidence in how the hearings will play out. I wouldn't bank on it." " I would hesitate to try and predict any sort of timeline as to when the hearings will be concluded, or when the judge issues a decision and final order" - Dorment Commerce Clause conflict will be a huge one (interstate commerce) - lots of states don't have medical yet and will be too late to apply with the DEA obviously - concern about no more incentives to push for recreational (impacts the arrest rates and such), and that states will look to expand their medical programs to let everyone in. Which leads to a political and legal problem of misusing the medical framework. You the open yourself up to a lot of lawsuits - to be seen how the logisitics will actually pan out. For example the DEA being the monopolized owner and bottleneck of all cannabis purchases and reselling. With having access to facilities for inspections. - DEA licensed pharmacies may be able to now sell/dispense state legal medical marijuana - if a public health or safety issue arises due to this new scheme, FDA can start to enforce a lot stronger on multiple fronts - the DEA will select the interested parties for the hearings by June 22th - timeline: if everything goes as planned you can expext a final rule by the end of the year - a lot will depend on who the participants will be in the hearing It feels...fragile?

crunchsoop

Why do companies need to apply for "the protections" of rescheduling with the DEA? They about to crack down on weed?

Kbarbs4421

Agreed. I get that this doesn't legalize cannabis outright. Neither will the upcoming rescheduling process, assuming it lands at SIII. But on medical product, it's now SIII. And SIII can be legally sold by DEA registered operators through fed authorized channels (not yet clearly defined; state markets, I assume?). How is that not a legal product? Very open to anyone that can explain what I'm missing here, because I'm clearly not see wha Swordfish, creamcheezies, etc are saying.

Bobbe22

Just a reminder for everyone, they made marijuana illegal originally by imposing a stamp tax on it, and then simply didn’t hand out any stamps. If I know the DEA as well as I think I do, I expect something very similar.

Mattagascar

Source being a high times article? Lmao ok Not looking to debate further here but citing the limited marijuana research program as old as a hidden trick for the DEA takeover and/or taxation of weed, of which no legitimate news agency or government authority is reporting on or proclaiming, and is in fact contrary to (if not the antithesis of) the final order last week, isn’t compelling. But by all means don’t legitimize and best of luck to you!

NativeVeteranLLC

Based on what, your opinion? Ill leave you a source "One provision in particular has sparked early debate: a requirement that the DEA purchase and then resell state-legal medical cannabis at a nominal price to satisfy the United States’ obligations under the Single Convention on Narcotic Drugs, an international treaty on drug enforcement." Source:https://hightimes.com/news/politics/hidden-in-the-rescheduling-order-could-the-dea-become-the-nations-biggest-weed-dealer/

Mattagascar

This is unrelated to the DEA registration process. DEA is not going to collect any per lb fee here.

AverageNo130

>DEA Medical Marijuana Dispensary Portal Opening April 29, Annual Application Fee Set at $794... MH

donat3ll0

I don't mean to and that's fair to call out. But your OP is framing this as: - Democrats chose not to act - Republicans are choosing to act now - Therefore Republicans are more aligned with legalization or reform That is more about persuasian than accuracy. It is a formal process that runs through the DEA and HHS. The president can direct priorities, but it's not a flip of a switch. Biden's review in 2023 to HHS is one of the steps that make rescheduling possible. It mostly just sounds like you're making a case to give a pass to a fascist administration headed by an adjudicated rapist and alleged pedo. Just because he's doing something performative that you assume was super simple to accomplish before.

UsedState7381

Because the DEA was never on our side and neither was the DOJ when Scam Bondi was in charge.

KAI5ER

Whats crazy is it took the president himself to callout the DEA in front of the nation for them to get in line.

UsedState7381

We will know more by tomorrow, but the process is moving fast now, by the DEA standards.

samcrut

Gotta walk the fine line of doing something the whole country actually wants while giving the DEA and prison system a pay cut from losing a large portion of their arrest/fine income.

Kbarbs4421

I'm honestly not trying to argue in circles with you. But I'm still not convinced my read of this is wrong. The Final Order issued last week moved state licensed med cannabis to Schedule III. Odd bifurcation, yes. But still, that is immediately binding as far as I understand it. Which means medical cannabis distributed through federally approved channels and sold by a state licensed operator that is properly registered with the DEA would be legal. The upcoming rulemaking process for cannabis ***writ large*** is not essential to med rescheduling. It could stall or fail and the med reschedule would survive. Again, my understanding; not some deep legal analysis. Very much open to being proven wrong. I'm just trying to unravel the rats nest here.

areyouhighson

Biden got the ball rolling and the DEA stalled the process, and was taken to court multiple times, and continues to stall.

NativeVeteranLLC

As a commercial medical only licensed grow/processor in the state of Oklahoma, this does more harm then good business wise. Any money saved on taxes goes straight to the DEA. An extra 4k just to apply and a fee of $113 for every 1000 grams sold. Plus additional fees for GMP certification and FDA approval. This is just funneling the money from the IRS to the DEA and FDA. This will eliminate more businesses then it will help. Don't expect it to pump your bags

RandomGenerator_1

Registered state licensees will be subject to several operational requirements, though many are designed to minimize regulatory burden by leveraging existing state compliance infrastructure. State-required records, reports, and forms will be accepted to the maximum extent permissible. State-authorized medical marijuana certifications will be sufficient for dispensing purposes, provided they meet certain minimum criteria, including the patient’s name and address and the issuing practitioner’s information. Registrants may also rely on state-law labeling, packaging, disposal, and physical-security requirements in lieu of federal requirements, subject to inclusion of a statutory warning label. Manufacturers, however, should be aware of a unique compliance obligation related to the Single Convention: all registered manufacturers must establish a nominal price for the purchase of their marijuana crops, and the DEA will execute a purchase-and-resale transaction at that price (plus an administrative fee) to satisfy the Convention’s requirement that a government agency serve as the exclusive purchaser of cannabis production. Manufacturers must store crops in a DEA-accessible facility until this transaction is complete. https://www.foley.com/insights/publications/2026/04/dea-issues-long-awaited-final-order-rescheduling-certain-marijuana-products-to-schedule-iii-what-it-means-what-it-doesnt-and-what-comes-next/

Imaginary_Rooster622

Good morning one and all. I did a little recap this morning on where I think we are. FEEL FREE to ADD YOUR TAKE * Medical cannabis is now S3 and 280E is gone from it ( April 23 ) * AU cannabis remains an S1 + 280E tax * Licensed medical cannabis companies have 60 days to apply for a DEA license. If approved they will receive a federal license * The ALJ will resume on June 29th and run no later than July 15th where it will be determined if all cannabis should be moved to S3 My takeaway: It will be 2 1/2 months from the Final Order ( April 23 ) and the end of the ALJ hearing ( July 15th ) State licensed medical cannabis companies have 2 months to apply for DEA license With less than 3 months from start to finish. I believe that smaller private hedge funds will start front running the larger banks/brokers who may not be able to buy stocks for compliance reasons If/ When DEA license approved ( I BELIEVE) these companies can apply to list on US exchanges because they would be federally registered and federally approved companies What are your thoughts 💭

Kbarbs4421

> This week was a “quick fix” that legitimized state-level medical (DEA registration) Exactly, so state level med is now legal as ling as the operator is properly registered with the DEA. You keep saying that's not true. That's med is still illegal. I'm not understanding why?

Thumbszilla

Not enough people are talking about the fact that MSO's are immediately applying for a license from the DEA under the new S3 announcement last week. Once they're approved in short order they're officially "legal" in they eyes of the federal government. That means uplisting can happen SOON. There's no way that's accidental... they totally planned that. Prepare for the American MSO's to go sky high... the Canadian ones are already listed.

SuzyCreamcheezies

This week was a “quick fix” that legitimized state-level medical (DEA registration), but the government still needs to go through the legal proceedings to legalize federally. This was a stop gap to make some headlines while they start hearings for federal rescheduling on June 29.

SuzyCreamcheezies

I could see the exchanges objecting because it’s still federally illegal. But who knows, maybe companies registering with the DEA will be enough to soften their stance? I could also see them waiting until after the summer hearings before they consider any changes. Just my opinion.

Kbarbs4421

> Their NASDAQ listing would be the current hold up. The reclassification this week was recognizing state-level only with some federal (DEA) oversight, but I believe cannabis is still fully illegal at the federal level. NASDAQ could choose to relax their rules based on the current state-reclassification, but that hasn't happened yet. With the reschedule action taken last week on med, on what basis would the exchange object? Assuming of course that the fast track fed approval for state licensed operators is successfully complete.

SuzyCreamcheezies

Their NASDAQ listing would be the current hold up. The reclassification this week was recognizing state-level only with some federal (DEA) oversight, but I believe cannabis is still fully illegal at the federal level. NASDAQ could choose to relax their rules based on the current state-reclassification, but that hasn't happened yet. I think the June 29 hearing is set to address broader reclassification at the federal level (still schedule 3 though). Presumably this would alleviate much of the risk for NASDAQ/NYSE, but we will see how it shakes out.

CatGuano

In 2016 congress passed the Ensuring Patient Access and Effective Drug Enforcement Act of 2016 which prevented the DEA from busting opiate pill mills. It was a bipartisan effort that destroyed a generation. Now they say this new law is to "protect the children." More like protect their corporate masters.

michkennedy

Immediately - medical state-legal cannabis products are considered Schedule 3 and DEA applications for the cannabis companies will be fast-tracked to confirm legal status.

LandStander420

So hear me out Medical cannabis is legal The Federal Government determines what can be sold in Pharmacies through the DEA & HHS So CVS Texas, South Carolina, Indiana, basically ALL U.S states can now sell medical cannabis Am I technically correct?

AverageNo130

\-May 20-24 — deadline to submit intention to participate in hearing \-May 26 — Charlotte's Web shareholder vote on BAT conversion \-June 29 — DEA rescheduling hearing begins \-July 15 — hearing concludes \-Shortly after — formal rescheduling decision expected

ENTRAPM3NT

Interesting point and I actually think there’s logic there. If state licensed operators receive some form of federal DEA registration under S3, that arguably weakens one of the biggest barriers that has kept U.S. plant-touching operators off major exchanges. The bull thesis would be: Federal registration could provide a stronger legal footing That could make exchange uplisting discussions more realistic Uplisting could open institutional ownership, ETFs, lower cost of capital, and a major sector rerating And if that happened it would be a huge deal, not just for MSOs but likely sentiment-wise for names like Tilray too Where I’d be careful is assuming registration automatically equals uplisting. NYSE and Nasdaq have their own listing standards, risk committees, and compliance interpretations. They may still want explicit exchange guidance, SEC comfort, or even additional federal clarity before moving. So I’d say DEA registration could be a very bullish stepping stone toward uplisting, but maybe not sufficient on its own. If anything, what you’re pointing out may be underappreciated by the market. Imo, uplisting will come. I also believe Trump will come out and support banking relatively soon but that's kinda speculation

Imaginary_Rooster622

Based on the April 2026 U.S. Department of Justice (DOJ) order rescheduling marijuana to Schedule III, state-licensed medical cannabis companies are now required to register with the DEA, though an expedited pathway has been created for them. +1 Key Details for State-Licensed Entities (As of April 2026): Registration Requirement: State-licensed medical marijuana entities (cultivators, processors, and dispensaries) must register with the DEA as "practitioners" or manufacturers under 21 U.S.C. § 823(g). Expedited Pathway: The DEA provides an expedited registration process where state licensees can submit their existing state credentials as "conclusive evidence of state authorization" to receive federal registration. Deadline: State medical marijuana licensees who submit applications within 60 days of the publication of the final order (by roughly late June 2026) may continue to operate under their state licenses while the DEA reviews their application. * " to receive federal registration" * I'm going to take a leap and suggest that if a medical cannabis company has received federal registration then the US exchanges will allow them to Uplist What are your thoughts on this?

paper_folded8x

[this is why we need total unscheduled state of marijuana ](https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://downloads.regulations.gov/DEA-2024-0059-39170/attachment_2.pdf&ved=2ahUKEwiIpqbNh4iUAxXNv4kEHaHmNskQFnoECCEQAQ&usg=AOvVaw2TmPOVbhjdVbtai878L_Oj)

ENTRAPM3NT

Historical skepticism of the DEA isn’t the same as proof they can derail a live federal rulemaking process. At this stage, procedure constrains discretion more than past behavior does.

OorvanVanGogh

DEA has been sabotaging marijuana liberalization initiatives for decades, including the Biden era rescheduling efforts. So, I would hardly call it speculation on my part.

OorvanVanGogh

You are making two huge and unwarranted assumptions: 1) The outcome of the hearings would be pro rather than contra rec rescheduling 2) The DEA will not come up with new ways to sabotage the process, like it has been doing during Biden and ever since

Imaginary_Rooster622

Good morning 🌅 No more 280E When is the new ALJ hearing on Rescheduling Cannabis? The new Drug Enforcement Administration (DEA) administrative law judge (ALJ) hearing regarding the broader rescheduling of cannabis to Schedule III is scheduled to begin on June 29, 2026. +2 Key details regarding this new hearing include: Duration: The hearing is expected to run from June 29, 2026, and conclude no later than July 15, 2026. Purpose: This hearing will address the rescheduling of all cannabis (including adult-use) to Schedule III. Scope: The hearing will use the same proposed rule published in the Federal Register in May 2024. Background: This new, expedited hearing replaces the previously stalled hearing process that was slated for January 2025. Immediate Action: Separately, as of April 23, 2026, the DOJ has already rescheduled FDA-approved and state-licensed medical cannabis to Schedule III. Cannabis Business Times Cannabis Business Times +5 The hearing is intended to provide a legally compliant pathway for the broader rescheduling, with a potential final rule expected in late 2026 or early 2027. Cannabis Business Times +1

Ok-Replacement9595

Doesn't schedule 3 and DEA sanctioning pretty much sure up any banking and custody questions. It is in compliance finally with federal law. What would be the hold up?

jmu_alumni

Let’s assume Biden’s DEA got through the process as they were pushing for all cannabis to be S3. Is your thesis that is impossible? Or that it is possible, but then state rec programs are not fully compliant? If the latter, what are the reprocussions? 280e is still removed and feds have no intention in forcing state rules to change

Asleep-Sport-3087

If you thought that today’s headline was going to make these stocks rip, you need a reality check. We already heard about schedule 3 when Trump signed the executive order and the market didn’t give a fuck then. The market certainly isn’t going to give a fuck now. It’s old news. The only thing that’s going to make these stocks go up is when all of the benefits of schedule 3 actually roll out, which is going to take a long time. Even then, people aren’t going to suddenly flock to weed stocks. Weed stocks used to be the new cool thing to invest in when legalization happened in Canada and some US States. Back then we’d see insane euphoria but that story wore itself out over the years. People are sick of it and no one wants to touch this sector anymore. We are going to keep seeing these random pumps into news when weed investors convince themselves again that “this time is different”. You can profit off of those events by tracking them, and buying puts right when the news hits. The next opportunity to do this is when the DEA wraps up it’s hearing process.

Competitive-Ant2876

He’s wrong. GTI is barely in Fl in regard to other competition. To get the DEA license tax’s have to be paid full, trulieve can’t do that. So they’ll wait till the hearing to feel the benefits. The companies that will most benefit as far as teir 1 in order are curaleaf , Cresco, I guess trulieve and GTI. One could argue it’s curaleaf Cresco verano trulieve

Competitive-Ant2876

I see that the stocks got fucked, and msos will be at $4 Friday like I said yesterday when there was a bunch of delusion. We bled just like I said we would. I sold both of my core positions for profit and puts (thanks to everyone’s delusion) but I’m fully loading up both my core positions either end of day Friday or Monday morning. I think we will get wicked price movement closer to the hearings when there is more clarity around rec, and 280e as a whole, and there is rumors saying to get your DEA licenses you have to pay back tax’s in full, that shuts trulieve out.

AnimalStyleCreole

This is actually yuge news and a big deal for the cannabis sector. Further opens the door for full on legalization i.e. buying cannabis products in a retail setting. This is exactly what the market thought was going to happen in 2020 - 2021 when pot stocks like TLRY and CGC went moon. We might even see 2021 levels again in the pot sector, to close out 2026, given how quickly mango likes to move. Re-Scheduling (from I to III) > SAFE Banking > any remaining DEA / FDA hurdles > then at the end this road is US consumers being able to purchase marijuana with a credit card. Just like alcohol and tobacco. Any other end result is just silly. Send it. Cannabis > Alcohol & Tobacco

AverageNo130

A newly published f[ederal order](https://www.justice.gov/opa/media/1437441/dl) from the Drug Enforcement Administration (DEA) makes a targeted shift in marijuana policy, placing FDA-approved marijuana drugs and certain state-licensed medical marijuana activities into Schedule III, while also suggesting that federal officials consider **retroactive** tax relief under IRS code 280E. The order, issued by the Department of Justice and signed by Acting Attorney General Todd Blanche. MH

chasfly34

I like the part where they say, "First Impressions: Better Than We Expected The rescheduling of medical cannabis (MMJ) in the US with immediate effect is significant, and, in its published form, better than we had expected, and it also happened faster than we had assumed based on the latest chatter. Why better: 1) the FO not only reminds everyone that 280 does not apply any longer, but it also calls on the Treasury Department to forgo past 280e related debts (i.e., “provide retrospective relief); 2) it will have all state licensed med operators (inc. MSOs) register with the DEA at the federal; we think this is rather important as although the FO does not federally legalize MMJ, it does provide “federal cover” (our term), which may help with banking access, custody (stock trading), and even perhaps lead to a more tolerant stance by the exchanges (uplisting); 3) the FDA will not oversee MMJ state program (a concern of ours), despite operators registering with the DEA. True, the rescheduling of rec will be left to an administrative hearing process due to start on 6/29 (rec is 72% of US MJ sales; but med exposure varies by operator), and there may be legal challenges to today’s FO (in that case a judge will need to decide if to put an injunction or not). Will 280e apply to rec for the time being? In theory yes as rec would still be Schedule I, but in practice? Companies may need to split their earnings between rec and med (messy…?); or companies may argue that given the FO says 280e no longer appliesto state medical licensees, that this would cover all their operations(i.e., all their sales?). Sure, the latter is a matter TBD. We realize stocks are down today (but up 20% over the last 5 days), but we say the floodgates have opened, and like the medium and long term set up."

Wide_Gur_9963

"That process hasn't been completed yet. DEA/DOJ have not held a hearing about marijuana rescheduling. Biden had scheduled one, but it got cancelled amidst a dispute about who could testify, and we've all been waiting to see if it would be re-calendared."

Imaginary_Rooster622

My Bad. I mistook the 6/29/26 hearing as Rescheduling to S3. I now see that the Final Order made medical cannabis from licensed state operators immediately Schedule 3.( Full Stop ) I don't expect the top tier mso's to sit on their hands when Cannabis just became a Schedule 3 substance. Uplisting, Safe banking, M&A Facts First. The DOJ (together with the DEA) issued a Final Order this morning (link here) and also summarized it here, regarding the rescheduling of cannabis. Verbatim, • The FO immediately (4/23) places both FDA-approved products containing marijuana and marijuana products regulated by a state medical marijuana license in Schedule III of the Controlled Substances Act, and it announced the initiation of an expedited administrative hearing process to consider the broader rescheduling of marijuana from Schedule I to Schedule III. • The new hearing, beginning 6/29/26, will provide a timely and legally compliant pathway to evaluate broader changes to marijuana’s status under federal law. DEA is expeditiously moving forward with the administrative hearing process, “bringing consistency and oversight to an area that has lacked both”, according to DEA Administrator Terry Cole. • Cannabis remains federally illegal, and interstate traffic is not allowed. However, the FO also establishes an expedited registration process under 21 CFR part 1301 for entities holding state medical marijuana licenses, enabling such entities to engage in the manufacture, distribution, and/or dispensing of marijuana for medical purposes under federal law consistent with the requirements of the UN Single Convention. • The FO does not apply to synthetically derived THC, which is outside the Visa's definition of Marijuana

Cool_Ad_5101

Yep but I can wait it out. Especially with a narrow two wee window in June/July and not the open ended nonsense that we were Wrongly subjected to by a corrupt DEA

SwordfishOk504

> The DEA doesn’t have the authority to reschedule, womp womp

Ok-Replacement9595

It is almost inevitable when it's all said and done. Once registered and compliant with the DEA there is zero reason for not uplisting.

Asleep-Sport-3087

I bought puts this morning at open and then sold pretty quickly after it doubled. I do not hold cannabis stocks because I like money. I will be doing this again after the same cycle repeats itself for the thousandth time during the DEA hearing process. No one cares about this sector anymore and people in this sub are blissfully unaware of that. Look at the public reaction to schedule 3. No one gives a fuck about it except for the people in this sub. It is not going to bring in new buyers, so it is wise to buy puts everytime cannabis stocks go up because of it.

1hipG33K

I don't disagree with what you're saying, friend. We want the same thing here, and I'm holding my investments for as long as needed. So I imagine we'll both be there to ride the wave when it comes. But even as you stated, these are still only words and not action so far. Biden started this process in 2022 through the DHS, and we discovered a lot of sketchy relationships between the DEA and anti-cannabis groups. The result was only more delays, so it felt like it was going nowhere. All Trump has accomplished so far is more words and delays, but still no action. He is great at playing that game too, considering the December EO made everyone think, "it's gonna happen any day now." Here we are almost half a year later and still no action. So if today's announcement are only words telling people to do things, then nothing has happened yet. Until there's tangible change, my "boy who cried wolf" comparison still stands.

King_Chron

The EO was a positive in my eyes for that exact reason. In the eyes of the industry, a republican presidential incumbent telling the AG to get off your hands(not exact quote or wording), was the wording Pro cannabis lawyers needed to push back against inaction. When progress continued to lag in early 2026, legal advocates and industry leaders (such as the CEO of Trulieve) used the EO's forceful language to keep political pressure on the Department of Justice (DOJ) Today acting Attorney General Todd Blanche cited the need for **"immediate"** reclassification to fulfill the administration's goals. By using the EO’s "expeditious" requirement as a baseline, lawyers successfully argued that any further delay by the DEA or other agencies would be a direct violation of the President’s directive. The boy who cried wolf was more of a 2020-2023 thing until AUG 30 23, that was the first shift. The boy who cried wolf now are SAM & the greedy pig naked short ETF arbitrage illiquid stock manipulators....... when they move the entire sectors stocks on little volume and spread the nastiest social sentiment on these boards.....all to squeeze out a little more juice out of the grapes they have been stepping on for almost 6 years now. Their time has come to an end, real money will start to enter this sector once the language is clear. They will not be able to pull these shenanigans for much longer. All trades come to an end at some point.

Ok-Replacement9595

On first reading of the order, my impression is leave it to a federal agency to use this as an opportunity to greatly expand its regulatory authority. Questions: what does this mean for state legal rec? Who is going to be first to register with the DEA and produce interstate FDA regulated Marijuana ptoducts? Which under this beverages would presumably fall.

MatrixOrigin

Looks like Blanche and Cole got whipped in place! If they want to keep their jobs, they will follow through. >“The Department of Justice is delivering on President Trump’s promise to expand Americans’ access to medical treatment options,” said Acting Attorney General Todd Blanche. “This rescheduling action allows for research on the safety and efficacy of this substance, ultimately providing patients with better care and doctors with more reliable information.” >“Under the direction of President Trump and Acting Attorney General Blanche, DEA is expeditiously moving forward with the administrative hearing process — bringing consistency and oversight to an area that has lacked both,” said DEA Administrator Terry Cole.  “Our men and women in law enforcement remain committed to fighting drug cartels, the fentanyl epidemic, and protecting American lives.”

MudlarkJack

was there any expectation that such things would be addressed in a rescheduling document? those are financial considerations whereas rescheduling is a DEA thing no?

UsedState7381

The hearings on the DEA will start by June 29, two months away. I will see how low MSOS goes this week, then I'll buy more again.

Cool_Ad_5101

I have been saying this for years and people have been saying I was crazy. Good the MSO’s should get some relief. The DEA slow played it. They should get at least 50-100 of 23,24,25 tax years back. Criminal That it took this long 

Immediate_Thought656

They didn’t reclassify shit. The AG’s order calls for an expedited hearing to reclassify, which has to be done by the DEA and the hearing is scheduled for June 29.

ConLawHero

It's all bullshit. They have to resolve an interlocutory appeal. Then the stayed DEA hearing has to resolve, then they can reschedule, and then Smart Approaches to Marijuana, represented by former AG Bill Barr will immediately file a lawsuit seeking a temporary restraining order and preliminary injunction. I think they actually have a good shot at winning it because the HHS medical recommendation is so full of holes because Biden clearly told them to just make the recommendation, science be damned. Point being, unless they intend on violating the Administrative Procedures Act and the Controlled Substances Act, it is a process that will take time, even still.

jmu_alumni

Lol. 2024: > DEA MOVING TO RECLASSIFY MARIJUANA AS LESS DANGEROUS DRUG: AP

MatrixOrigin

So apparently the Washington Post backtracked a lil? Martinelli: >The Washington Post has updated their article from earlier today so instead of saying the DEA "is planning to soon announce a new administrative hearing", it now says the agency has "discussed announcing a new administrative hearing".

Kutukuprek

So, we started from "could reschedule as soon as Wednesday" (today) to.. maybe a new final ruling.. to.. maybe new hearings? I can't imagine Trump wanting to go through "hearings". It looks weak. He already signed an EO 5 months ago and it's not being acted on. A hearing is more of that. Cannabis can't be a wedge issue for November 2026 because if it is, again it just looks weak for the Trump administration which is not its signature character. No one is going to vote for them to get them to legalize, because if they couldn't do it with total control of the WH, House and Senate.. what is going to change in 2027..? It's now or never. Trump either comes out of this looking like he did something past Presidents have waddled on or got backstabbed by their DEA on.. or he looks like every past President, getting played by his own DEA.

Kbarbs4421

Came here to share this exact same thing, my emphasis in bold: > President Joe Biden’s Justice Department in 2024 formally recommended that marijuana be reclassified as Schedule III, but the move stalled amid legal disputes and a pending DEA administrative hearing. **As part of its plans to expedite the rescheduling of marijuana, the Trump administration would move to end those hearings and start a new process, according to the people with knowledge of the administration’s plans.**

Cool_Ad_5101

Well put. Trump needs to fire some DEA obstructionists 

Tiaan

I'm looking at [the washington post ](https://www.washingtonpost.com/politics/2026/04/22/trump-marijuana-rescheduling/)article where the potential ALJ hearing news originated from. I believe they were misquoted. The actual quote says this: >The Drug Enforcement Administration has discussed announcing a new administrative hearing, a required step in the process of rescheduling the drug, two of the people said. Acting attorney general Todd Blanche also could directly announce that marijuana has been reclassified as a lower-risk drug and say that states will be in charge of marijuana licenses, the other two people said. It just sounds like these "two people" who are the sources were just laying out the options that were discussed such as a new ALJ or just issuing a final rule. That was then reported by Marijuana Moment as: >The Washington Post added that the Drug Enforcement Administration (DEA) is planning to announce a new administrative hearing on cannabis rescheduling, citing two sources. Seems suspicious to me. It also doesn't make much sense for new hearings to start after Trump publicly complains about how long its been taking and tells them to get it done already

UsedState7381

I think it's important to understand that the DEA was never on our side here, and they will do what they can to twart or stall this process. It's up to the DOJ to decide what is going to happen here. Trump wants this done because he's polling badly, but the strict timing of this is beyond his control. (And sure, he could fire Terrance Cole just like he fired Bondi, but that still wouldn't avoid any delays...In fact it could only introduce more delays)

LandStander420

So according to (?Axius)? the DEA is planning on holding hearings, WTF. That’s the big news. In other words FU Trump, it’s the Devil’s lettuce 🥬 and we ain’t doing 💩

LandStander420

So according to (?Axius)? the DEA is planning on holding hearings, WTF. In other words FU Trump, it’s the Devil’s lettuce 🥬 and we ain’t doing 💩

KAI5ER

It sounds exactly like the DEA.

Wan4trulove

If DOJ's conclusion after 4 months following Executive order and a taunt from president directly, is to have new hearings , Imagine how long they can push this drama in the name of due process. Why would they need 4 months to simply decide they need to cancel/withdraw the hearings and start new hearings... such bogus act by DOJ/DEA

Wide_Gur_9963

In February 2025, the DOJ publicly withdrew its defense of the constitutionality of ALJs at multiple agencies, including DEA. DOJ said the "multiple layers of tenure protection" for ALJs violate Article II of the Constitution. An administration that believes ALJs are unconstitutional is unlikely to appoint new ones.

Wide_Gur_9963

Correct. In February 2025, the DOJ publicly withdrew its defense of the constitutionality of ALJs at multiple agencies, including DEA. DOJ said the "multiple layers of tenure protection" for ALJs violate Article II of the Constitution. An administration that believes ALJs are unconstitutional is unlikely to appoint new ones.

KAI5ER

I fully accept the downvotes. this is would be a **slow walked scenario.** **The timing math** If DEA announces a hearing in the next few days, realistically: * Hearing prep and scheduling: 1-2 months * Actual hearing proceedings: 6-8 weeks * ALJ writes findings: 1-2 months * Administrator reviews and publishes final rule: 1-2 months That's optimistically 6-8 months from announcement to a final rule — putting you right at the **November 2026** hemp ban deadline, or just past it. And that's assuming no court challenges file for a stay along the way.

UsedState7381

I think it's INCREDIBLE that we have multiple news sources saying that Trump could reschedule cannabis today or even this weekend...And then only Washington Post comes out with that tidbit of the DEA restarting the ALJ hearings. Cannabis literally can't be rescheduled today or this week if the hearings restarts, so what is it? How can multiple and "reputable" news sources get so divergent to report about the same thing happening? Infuriating.

Cool_Ad_5101

lets hope cause the DEA is totally obstructing. Its comical at this point

Gambelero

I also have this as correct. When Mulroony retired, that left no law judges in the DEA's Office of Administrative Law Judges. There are obviously going to be a lot of issues held in abeyance until a new law judge is hired (or one of several thousand OLJs working in other agencies is transferred in). Is it possible that the lack of law judges is impacting rescheduling? Certainly it's possible. That office's AlJs have always had a heavy work schedule with all sorts of complicated matters to sort out.

1_FCKTRD

*Based on reports from early 2026, the Trump administration has significantly altered the administrative judiciary across several agencies, including reports indicating that effective* ***August 1, 2025****, the Drug Enforcement Administration (DEA) would have no Administrative Law Judges (ALJs).*  They're trying to take your shares again. [https://x.com/AMartinelliWA/status/2047017771687657818](https://x.com/AMartinelliWA/status/2047017771687657818)

AverageNo130

DEA has mucked this up all along. Hopefully they are on right track.

youngbutgood

So the DEA wants the new ALJ Hearing. Can the attorney general override that with a final rule?

alpastoor

Except this was something that Biden initiated during his term. IT's been workoing it's way through the DEA for years. Trump is just putting his stink on it at the last minute so he can take credit. This isn't just being rammed through.

sevseg_decoder

😂 what? By what logic do you think the president cannot enforce their wishes onto the DEA like he can with every other agency under his administration? Even if it wasn’t legal, and it is, he could do the whole “mortgage fraud” thing and fuck people over or intimidate them into doing what he wants…

cloutier85

DEA is stalling it apparently. new hearing.

sevseg_decoder

Sure, but they absolutely could. And if the DEA refused they could fire everyone necessary and replace them. I mean are you watching what’s going on in the rest of the executive branch?

Vesploogie

The president cannot order the DEA to reschedule drugs. Literally all his order did was say “hurry up”.

sevseg_decoder

The president can order the DEA to change the scheduling. They’ve done orders like this to fuck the American people over in every way possible, at this point this is a case where it’s more than valid and justified.

J_Dabson002

Wonder who appoints the head of the DEA…?

drbigtoe

These actions have no legal basis. Nothing has changed in terms of scheduling whatsoever other than pressuring the DEA to move to reschedule

J_Dabson002

It has to go through the Attorney General, HHS leads, and DEA leads who were all appointed by the executive branch. It’s a formality.

Vesploogie

My favorite part is the “How it works” section not explaining how it works. The DEA reschedules drugs. The president does not and cannot. There has yet to be any info on what the DEA is doing or going to do about this.

drbigtoe

The authority is vested in the Attorney General (via the DEA) under the Controlled Substances Act, with input from HHS. The DEA has the final rule following a review, which is what Joe Biden did as he was following the legal process. The president can not just wave his hand and reschedule marijuana.

echoshizzle

Is this Trump or the work the DEA started years ago. I don’t believe the POTUS has the power to reclassify

four_twenty_4_20

Neither party really gives a fuck about rescheduling or meaningful cannabis reform. For most of the GOP its still the devil's lettuce and for the dems its the carrot to get election donations over and over. Yes Biden initiated the S3 review but did nothing to move it along. Its clearly not something the DEA rank and file want. As much as I hate Trump I agree, our best chance is Trump pushing to get it done before the mid-terms and the impeachment circus that will follow.

Ok_Recording_4440

Once the DEA has a hold of it the fuckery commences 

UsedState7381

Seems like the standard going from S1 to S3, considering the HHS starting the rescheduling process of cannabis and it taking half a year for the DEA to say "yes" and then another half a year to decide to do those ALJ hearings(which is where we actually got slow-walked).