On June 29, 2026, one of the most consequential hearings in the history of US cannabis policy, the crucial DEA Administrative Law Judge (ALJ) hearing that could determine whether adult-use cannabis joins state-licensed medical cannabis on Schedule III of the Controlled Substances Act, begins proceedings.
The US Department of Justice has filed a federal lawsuit seeking $8.3m plus interest from New Jersey-based cannabis multistate operator TerrAscend (TSX: TSND), in what appears to be the first known instance of the government attempting to recover 280E tax refunds made proactively by a cannabis company.
Since President Trump issued an executive order to expedite cannabis rescheduling in December 2025, questions over the legal implications of this route have hung over the industry.
As the industry’s (more than justified) excitement over last week’s rescheduling announcement begins to subside, the regulatory reality is settling in.
After years of false starts, political delays and administrative paralysis, the United States federal government has taken its first concrete step toward rescheduling cannabis.
Cannabis stocks have once again been sent flying in the wake of the latest hint of progress on cannabis rescheduling from Trump’s White House.
US cannabis rescheduling is unlikely to trigger a land grab.
As the excitement around President Donald Trump’s executive order to push forward with cannabis rescheduling has faded, the bill is now facing a much harsher reality.
From the euphoric highs of 2018’s ‘green rush’ to the sharp corrections and structural stasis that have followed, cannabis equities have been among the most volatile financial assets since they first appeared on global markets.
