TLRY - Cannabis Rescheduling: When Will It Happen? Expert Lays Out Timeline Risks And Wild Cards | Benzinga
The Department of Justice (DOJ) confirmed that it has started the formal rulemaking process to reclassify cannabis to Schedule III. This significant step reinforces the positive outlook for cannabis stocks.
However, senior analyst Pablo Zuanic from Zuanic & Associates notes that U.S. plant-touching stocks might not see immediate benefits due to factors such as poor liquidity, over-the-counter (OTC) status, lack of custody and limited institutional involvement.
Key Developments And Implications
The Office of Legal Counsel (OLC) opinion supports the Attorney General's (AG) authority to reschedule cannabis, arguing it would not violate international treaties if accompanied by regulatory action, such as a revised Cole Memo. The OLC's interpretation emphasizes that the AG has the power to move forward without waiting for the Drug Enforcement Administration (DEA), which has not fully aligned with the process.
The Biden administration seems to consider this a priority, with the AG stepping in to ...