"DEA Tells Congress It Has 'Final Authority' On Marijuana, Regardless Of Health Agency's Schedule III Recommendation" - Marijuana Moment
Portfolio Pulse from Benzinga Newsdesk
The DEA has informed Congress that it has the final say on marijuana scheduling decisions, despite HHS's recommendation to reclassify marijuana to Schedule III. The DEA is currently reviewing the recommendation, but the timeline for completion is unclear. Lawmakers and various groups have expressed differing opinions on the matter, with some urging for descheduling and others for maintaining its Schedule I status. The DEA also warned Georgia pharmacies against dispensing THC, as marijuana remains a Schedule I drug.
January 03, 2024 | 7:46 pm
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NEUTRAL IMPACT
The DEA's assertion of final authority on marijuana scheduling and the ongoing review process could impact the cannabis industry and ETFs like MJ, which tracks cannabis-related stocks.
The DEA's decision on marijuana scheduling will directly affect the legal landscape for cannabis, which in turn impacts companies within the MJ ETF. However, the lack of a clear timeline and the DEA's non-committal stance make the short-term impact neutral but worth monitoring.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
MSOS, an ETF focusing on U.S. cannabis companies, could be affected by the DEA's review of marijuana scheduling, with potential regulatory changes impacting its holdings.
As MSOS is an ETF that includes U.S. cannabis companies, any changes in marijuana scheduling could have regulatory implications for its holdings. The current uncertainty of the DEA's decision leads to a neutral short-term impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70