Cannabis News Today: DEA Rescheduling, U.S. Hemp and $ACB $TLRY $CRON $CGC

1. U.S. Marijuana Rescheduling: Where the Process Actually Stands

The first priority is to separate two proceedings that are frequently conflated in market commentary. In April, the Department of Justice moved FDA-approved marijuana products and marijuana products regulated under state medical-cannabis licenses to Schedule III. That action created a federal registration path for eligible medical operators, but it did not legalize adult-use marijuana across the United States and did not automatically resolve every ambiguity facing businesses with both medical and recreational licenses.

In parallel, the DEA conducted a new hearing to consider broader marijuana rescheduling. Testimony concluded on July 15. An order signed by Chief Administrative Law Judge Derek Julius gives the parties until August 17 to submit transcript corrections and post-hearing briefs, which are limited to 50 pages. The judge will then prepare a nonbinding recommendation, after which the DEA administrator will make the final agency decision. The order gives no deadline for either of those later steps.

August 17 is therefore a procedural catalyst, not a regulatory action date comparable to an FDA PDUFA date and not the day marijuana automatically moves to Schedule III more broadly. Any headline presenting it as the final decision date is oversimplifying the process. The document investors should keep is the DEA’s official post-hearing order.

An unusually structured hearing

The composition of the hearing generated substantial controversy. All seven entities admitted as “interested parties” opposed the reform, while the DEA itself formally served as the proponent of rescheduling. Reuters’ legal analysis notes that excluding supportive groups could become another point of contention if the administrative record is later challenged in court.

The useful conclusion is not that the DEA abandoned the proposal. During the proceeding, the agency introduced testimony supporting the existence of accepted medical use and a lower relative abuse profile than Schedule I implies. However, a process that appears uneven in terms of participation could make the eventual outcome more vulnerable to judicial review.

2. The Second Federal Front: Hemp-Derived THC

The newest congressional development is the Lawful Hemp Protection Act, introduced by Representatives Andy Barr, a Kentucky Republican, and Angie Craig, a Minnesota Democrat. The bill seeks to replace federal restrictions scheduled to take effect on November 12, 2026 — restrictions that would make most currently marketed intoxicating hemp products unlawful — with national potency limits, licensing, labeling, testing and taxation.

According to the legislation and accompanying congressional materials, the proposal would keep many adult hemp-derived products legal at up to 1 percent total THC by dry weight, while prohibiting specified synthetic or converted cannabinoids, including HHC, THC-O and THCP. It would add a 21-and-over requirement, certificates of analysis accessible through QR codes, potency limits, federal permits and a 5 percent excise tax on several product categories. Hemp beverages would be subject to a separate tax calculated per milligram of THC.

The politically notable detail is that Barr’s office says the White House supports the proposal. That is a meaningful signal, but not a guarantee of passage. The bill must still navigate committees, the House and the Senate. It also faces resistance from parts of the alcohol industry and from licensed marijuana operators that view hemp-derived THC products as less-regulated competitors.

For investors, the fight extends well beyond hemp growers. A federal framework for THC beverages and other hemp-derived products could reshape competition among state-regulated marijuana businesses, hemp companies, beverage manufacturers and mainstream retailers. It could favor operators with the scale and compliance systems to test every batch and meet national standards, while pressuring the fragmented synthetic-cannabinoid market.

Insurance reform: the CLAIM Act returns

Senators Kevin Cramer and Ruben Gallego have also reintroduced the bipartisan CLAIM Act, which would prevent federal regulators from penalizing insurers, brokers or employees for providing services to state-authorized cannabis businesses. This is the fourth consecutive Congress in which the measure has been introduced. Bipartisan sponsorship is constructive, but the bill’s history also shows how difficult it has been to convert sector-specific agreement into federal law.

The proposal would not replace the SAFER Banking Act. It would instead address one of the industry’s less visible constraints: without adequate property, commercial and liability insurance, businesses face greater difficulty financing facilities, protecting assets and establishing normal relationships with the broader financial system.

Full federal legalization: Senate Democrats revive the CAOA

On July 16, Cory Booker, Chuck Schumer and Ron Wyden, joined by 14 original cosponsors — 17 senators in total — introduced a new version of the Cannabis Administration and Opportunity Act. Unlike rescheduling, the CAOA would remove marijuana entirely from the Controlled Substances Act, expunge certain federal convictions and restore some public benefits affected by cannabis convictions. It would also establish a federal minimum age of 21, create an FDA Center for Cannabis Products, provide access to Small Business Administration programs and require updated FinCEN guidance for financial services.

The proposed tax structure distinguishes among business sizes. The federal excise tax for small and midsize producers would begin at 5 percent and gradually rise to 12.5 percent after five years. For larger businesses, the rate would start at 10 percent and could reach 25 percent. The legislation also includes social-equity programs, product tracking, protection for interstate transportation through prohibition states and authority for Department of Veterans Affairs physicians to recommend cannabis.

There is another important hemp provision: the bill would prevent the scheduled federal recriminalization of many hemp-THC products in November. Nevertheless, the new Senate CAOA should be treated as a major policy statement, not an imminent market catalyst. The Republican-controlled House has advanced language pointing in the opposite direction, and the odds of the full bill becoming law remain low.

Congress is moving in opposite directions

The contrast is stark. On May 14, the House Appropriations Committee approved the fiscal 2027 Commerce, Justice, Science funding bill by a 32–28 vote. Section 591 would prohibit the use of federal funds to reschedule marijuana or remove it from the schedules established under the Controlled Substances Act. If that provision passed both chambers and were signed by the president, it could block additional work on the hearing and broader rescheduling.

For now, however, the anti-rescheduling rider is only committee-approved language. Similar provisions were advanced in previous years without becoming law. The same spending package also preserves the protection that has prevented the Justice Department from interfering with state medical-marijuana programs since 2014. The political message is contradictory: protect existing medical markets while attempting to halt broader federal reform.

Democratic Senator John Fetterman summarized reform advocates’ frustration by urging Congress, in unusually blunt terms, to stop wasting time and legalize marijuana. Fetterman’s statement is highly shareable political rhetoric, but it remains a pressure signal. It does not change the vote count required to pass the CAOA.

3. Political Backstory: Industry Millions and the Line Between Fact and Rumor

The financial contributions are supported by election records. The claim that those contributions guarantee favorable rescheduling would be speculation unsupported by evidence. There is no documented agreement between the donors and the administration. It is nevertheless reasonable to observe that the industry is sharply increasing its political influence at the same time the White House, Justice Department and DEA are navigating the most sensitive stages of the process.

A second development tempers optimism. During his confirmation process, Acting Attorney General Todd Blanche declined to commit to supporting broader rescheduling beyond medical use. Asked about adult-use marijuana, he said he would evaluate the issue after consulting stakeholders and the DEA. He also did not categorically rule out federal simple-possession prosecutions in national parks and did not explain how relief from Section 280E would apply to businesses holding both medical and recreational licenses. Blanche’s written answers were not a formal rejection, but neither were they the unambiguous endorsement bullish investors wanted.

The political picture is therefore mixed. Money and lobbying show a better-organized industry. The White House is signaling openness on hemp and medical research. But senior Justice Department officials continue to avoid firm commitments on adult-use marijuana.

The parallel court war — and the William Barr connection

Three challenges to the April order have been consolidated in the U.S. Court of Appeals for the District of Columbia Circuit. The challengers include Smart Approaches to Marijuana, the National Drug and Alcohol Screening Association, a coalition involving physicians and addiction-treatment interests, a cannabinoid-focused biopharmaceutical company, and the attorneys general of Indiana and Nebraska. Louisiana initially participated but later withdrew.

The central legal issue is technical but potentially decisive. The Justice Department relied on Section 811(d)(1) of the Controlled Substances Act, which concerns international treaty obligations, to issue a final order without completing the full ordinary process. Opponents argue that this route does not allow the attorney general to choose a domestic schedule unilaterally when multiple classifications would satisfy U.S. treaty obligations. A Reuters legal analysis explains why the D.C. Circuit case and the DEA hearing represent two separate tests for the reform.

The National Drug and Alcohol Screening Association and MMJ International have also asked the court to stay the order while litigation proceeds. The association argues that Schedule III could prompt some employers to stop testing workers for marijuana, reducing revenue for its members. MMJ argues that, after investing more than $10 million in Schedule I cannabinoid treatments, it could face faster competition from rescheduled products. Those are litigants’ claims, not facts established by the court. If granted, the motion for a stay could freeze the disputed effects of the order while judges consider the merits.

The most notable political-legal connection involves former U.S. Attorney General William Barr. The SAM and NDASA challenge was signed by Torridon Law, where Barr is a partner. SAM previously announced that it had retained Barr’s firm to oppose reform following the presidential action. That connection is documented, but it does not prove that Barr controls the petitioners or the court proceeding. It does show that the marijuana fight now involves former Justice Department leadership, prohibition groups and economic interests directly affected by rescheduling.

Meanwhile, two medical operators — MedPharm Iowa, which operates as Bud & Mary’s, and Tri-Mountain Pure — have sought permission to intervene in defense of the order. They cite Section 280E costs, banking barriers, research restrictions, hiring problems and DEA-registration burdens. Anti-cannabis groups want the intervention denied, arguing that the government can already represent those interests. The fight over whether cannabis businesses may join the case matters because it will help determine which economic and operational evidence enters the record directly.

The strangest account from inside the hearing

One of the week’s most unusual reads is an account by a former commercial cultivator who attended the hearing. The author says the government presented only two witnesses and conducted limited cross-examination until the final week. He also reports that some images used by an anti-rescheduling witness to illustrate pediatric risks originated from online searches, Reddit and unverified material, including a meme. According to the account, DEA counsel repeatedly challenged the sourcing of those images.

The account also includes evidence less favorable to the industry. Yale psychiatrist Deepak D’Souza reportedly acknowledged that most marijuana consumers will not develop psychosis and that cannabis cannot reliably be described as a hallucinogen. He nevertheless emphasized risks associated with rising THC potency and psychosis in vulnerable individuals. Sheriff William Honsal reportedly testified that the Metrc track-and-trace system can be manipulated and that some legally produced material can leak into illicit channels.

This material requires the correct label: it is an op-ed based on handwritten notes, not the official transcript. The DEA will publish a corrected record after the review process. The article is still worth reading because it illustrates how the hearing became a contest over the quality and provenance of evidence, not merely a clash of ideologies.

4. Company News: What Matters and What Is Mostly Marketing

$ACB: why EU-GMP matters more than an ordinary press release

Aurora acquired Safari Flower in April 2026 to increase capacity for international medical markets. The certification covers a facility of approximately 59,000 square feet and is valid for three years. Unlike a routine product launch, EU-GMP status is a critical operational requirement for entering tightly regulated medical supply chains.

A cautious interpretation is still necessary. Certification removes a regulatory barrier, but it does not prove demand, average selling price, facility utilization or profitability. The next evidence to watch will be new supply contracts, export volumes, the contribution to international margins and Aurora’s first-quarter fiscal 2027 results on August 5.

$TLRY, $HITI and $CRON: innovation and distribution, not yet financial inflections

Tilray is testing a THC format resembling nicotine pouches: fast acting, discreet and combustion free. The concept is commercially sensible, but the announcement provided no distribution figures, volume targets or revenue expectations. The next near-term financial test is Tilray’s fourth-quarter and full-year fiscal 2026 report, scheduled after the market close on July 28. High Tide continues to densify its Canadian retail footprint; the Ottawa opening reinforces scale but does not alter the group’s valuation by itself.

Cronos offers a more measurable data point. SOURZ by Spinach reports a 20.8 percent share of Canadian edibles and a 31.7 percent share of the 10-by-10 multipack format in May. The August 6 results must show whether that commercial strength is translating into organic growth, promotional discipline and better gross margins.

5. Europe and Italy: Medical Opportunity, Rising Friction

Europe remains one of the primary growth routes for North American producers. Aurora’s certification confirms that Germany, the United Kingdom and Poland have become strategically important markets. At the same time, Germany’s debate is shifting from access alone toward the quality of medical use and the potency of available products.

An analysis reported by German media on July 23 found a moderate, single-digit-percentage increase in cannabis-associated hospital admissions following the 2024 reform. The authors discuss greater availability of high-THC medical cannabis as one possible factor. The data do not prove that legalization caused the increase: reporting changes, reduced stigma and differences in product mix could all influence the statistics. Politically, however, the findings could strengthen calls for tighter controls on telemedicine, online prescriptions and distribution.

For $ACB, $TLRY, $CGC and $CRON, the implication cuts both ways. European demand can support growth, but high-quality compliance will become an even more important competitive advantage. Production capacity and low prices will not be enough if governments narrow prescription channels.

Italy: a third referral to the Constitutional Court

Between July 20 and July 21, Italian news outlets reported that a judge in Brescia had also referred questions concerning Article 18 of the Security Decree and the ban on cannabis-light flower to the Constitutional Court. The 26-page order was reported as deposited on July 15 and would represent the third referral, following proceedings initiated in Brindisi and Trani.

The legal meaning must not be overstated. Referral to the Constitutional Court does not automatically legalize cannabis light or invalidate the provision. It does indicate that constitutional concerns are no longer isolated. At the time of publication, the newly reported Brescia referral did not yet have a separate Constitutional Court docket entry cited here; the official Order No. 26/2026 linked below concerns the earlier Brindisi case. The Italian supply chain therefore remains in a state of severe uncertainty, alongside a separate proceeding in which the Council of State has already referred related questions to the Court of Justice of the European Union.

6. Research and Public Opinion: Two Developments Worth Reading

A federally funded cross-sectional study of 197 people who used cannabis and unregulated opioids found an association between cannabis use during opioid withdrawal and self-reported reductions in opioid consumption. About 45.2 percent of participants said they had used cannabis to manage withdrawal during the previous six months; among that group, 66.3 percent said cannabis reduced the amount of opioids they needed. After adjustment for several demographic and clinical factors, cannabis use for withdrawal management was associated with more than twice the odds of reporting reduced opioid use, and the association was stronger among participants with moderate or severe pain. The finding matters for the medical-cannabis and harm-reduction discussion, but it should not be converted into a definitive clinical conclusion. Cross-sectional, self-reported data do not establish causation or replace controlled trials.

Separately, a NuggMD/Marijuana Moment poll of 510 cannabis consumers in states with legal markets found that 48 percent approved of the Trump administration’s cannabis actions, down from 73 percent in the previous quarter. Another 13 percent disapproved, while 40 percent were neutral or had no opinion. Most respondents did not expect rescheduling to be completed by the end of 2026. The survey was conducted July 9–15 and reported a margin of error of plus or minus 4.34 percentage points. The sample represents cannabis consumers rather than the full electorate, but it is a useful indicator of rising frustration inside the community.

7. Cannabis Catalyst Calendar

8. The Merlintrader View: What Has Actually Changed

The cannabis sector is no longer in the state of total federal paralysis that characterized much of the previous several years. A limited medical rescheduling order has been adopted, a DEA registration path exists and the broader proceeding has finally completed its testimony phase. Under the order, qualifying state medical-marijuana licensees are no longer subject to Section 280E, although the tax treatment of mixed medical and adult-use operations remains an important unresolved implementation issue.

At the same time, the market risks pricing in too much too early. The general process can still be delayed by litigation, review of the administrative record, decisions by the DEA administrator or congressional intervention. Even Section 280E relief raises unresolved questions for operators that combine medical and adult-use activity.

The cleanest monitoring framework is to separate three levels:

• Already operative facts: the limited medical reclassification, the DEA registration process, company certifications and store openings.
• Verifiable catalysts: earnings, the August 17 briefs, court decisions and formal movement of legislation.
• Rumor and sentiment: political contributions, ambiguous statements, expectations for a decision before year-end and speculative equity moves.

For the community, the Nasdaq- and NYSE-listed names to watch over the coming weeks remain $ACB, $TLRY, $CRON, $CGC, $HITI, $SNDL and $VFF, together with the $MSOS ETF. They do not share identical economic exposure. Instead, they represent different combinations of medical exports, consumer products, Canadian retail, potential U.S. access and sensitivity to federal reform.

Recommended Articles and Primary Sources

• DEA — Official order covering transcript corrections and post-hearing briefs
• DEA — Official marijuana-rescheduling regulatory actions page
• U.S. Department of Justice — April 2026 medical-marijuana rescheduling announcement and documents
• Reuters Legal — The dual legal risk from the D.C. Circuit and DEA hearing
• Marijuana Moment — What happens after the hearing
• Marijuana Moment — An unusual inside account, clearly labeled as an op-ed
• Marijuana Moment — Cannabis-industry political contributions
• U.S. Representative Andy Barr — Official Lawful Hemp Protection Act announcement
• Marijuana Moment — The Lawful Hemp Protection Act
• U.S. Senator Kevin Cramer — Official CLAIM Act announcement and bill text
• Marijuana Moment — The return of the insurance-focused CLAIM Act
• U.S. Senator Cory Booker — Official 2026 Cannabis Administration and Opportunity Act announcement
• Marijuana Moment — The CAOA and full federal legalization proposal
• Marijuana Moment — The House rider seeking to block rescheduling
• Marijuana Moment — Senator Fetterman’s blunt legalization statement
• Marijuana Moment — Acting Attorney General Blanche’s noncommittal answers
• Marijuana Moment — The motion to pause the rescheduling order
• Marijuana Moment — The fight over cannabis-company intervention in the case
• Journal of Cannabis Research — Primary paper on cannabis use during unregulated-opioid withdrawal
• Marijuana Moment — Coverage of the federally funded opioid-withdrawal study
• Marijuana Moment — NuggMD consumer poll on rescheduling and the Trump administration
• Aurora Cannabis — Safari Flower’s EU-GMP certification
• Tilray Brands — ZONNA THC pouch launch
• Tilray Brands — Confirmed July 28 fiscal 2026 results date
• Aurora Cannabis/CNW — Release confirming the August 5 first-quarter fiscal 2027 call
• High Tide — New Canna Cabana location in Ottawa
• Cronos Group — Expansion of the SOURZ by Spinach lineup
• Canopy Growth — Official releases and upcoming events
• DPA/WELT — Cannabis-associated hospital admissions in Germany after reform
• L’Indipendente — The latest Italian cannabis-light constitutional referral
• Giornale di Brescia — The Brescia proceeding and referral to the Constitutional Court
• Italian Constitutional Court — Official entry for the earlier Brindisi referral, Order No. 26/2026