DEA to Consider Marijuana Rescheduling June 29, Boosting Aurora Cannabis Shares
ACB•DEA hearing on June 29 will consider moving marijuana from Schedule I to Schedule III for all commercial and medical uses, potentially legalizing federal adult-use sales. Rival cannabis shares including Aurora Cannabis climbed with the AdvisorShares Pure US Cannabis ETF rising over 8% on investor optimism tied to regulatory developments.
1. Upcoming Rescheduling Hearing
The Drug Enforcement Administration will hold a hearing on June 29 to decide whether to reclassify marijuana from Schedule I to Schedule III, a move that could federally legalize medical and adult-use cannabis production and sales across the United States.
2. Hemp CBD Regulatory Push
The administration is urging Congress to amend the scheduled broad ban on hemp-derived cannabinoids, aiming to keep full-spectrum CBD products legal and provide regulatory clarity for farmers before the current ban takes effect in November.
3. Stock Market Reaction
Optimism around federal regulatory changes lifted cannabis equities, with Aurora Cannabis among peers climbing and the AdvisorShares Pure US Cannabis ETF posting an over 8% gain, reflecting renewed investor interest ahead of key policy decisions.
