'DEA Officials Reportedly At Odds With Biden Admin Over Marijuana Rescheduling Push' - Marijuana Moment
Portfolio Pulse from Benzinga Newsdesk
DEA officials are reportedly at odds with the Biden administration over the push to reschedule marijuana from Schedule I to Schedule III, despite recommendations from the U.S. Health and Human Services (HHS). The DEA is concerned about the increased THC potency and questions the medical value of cannabis. The move to Schedule III would allow state cannabis businesses federal tax deductions and ease research barriers but wouldn't federally legalize marijuana. The timeline for the DEA's decision is uncertain, but it's expected to be completed this year. The Biden administration's cannabis policies have been positively received by the public, according to recent polls.
March 11, 2024 | 5:21 pm
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POSITIVE IMPACT
Aurora Cannabis Inc. may see a positive impact if marijuana is rescheduled, as it could ease research barriers and tax burdens.
As a major player in the cannabis industry, Aurora Cannabis stands to gain from any regulatory changes that ease operational constraints, such as research barriers and tax deductions.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Canopy Growth Corporation could experience a positive short-term impact from potential marijuana rescheduling, benefiting from reduced research restrictions and improved tax treatment.
Canopy Growth, as a significant cannabis company, would likely benefit from the easing of federal restrictions on research and the ability to claim federal tax deductions.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
The ETFMG Alternative Harvest ETF (MJ) could experience a positive impact from the potential rescheduling of marijuana, as it would benefit the cannabis industry as a whole.
As an ETF that tracks the cannabis industry, ETFMG Alternative Harvest ETF would likely benefit from regulatory changes that positively affect the industry, such as easing research restrictions and improving tax treatment.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
AdvisorShares Pure US Cannabis ETF (MSOS) could see a positive impact from the potential rescheduling of marijuana, benefiting from industry-wide improvements.
As an ETF focused on the US cannabis industry, AdvisorShares Pure US Cannabis ETF stands to gain from any regulatory changes that have a positive impact on the sector, such as the potential rescheduling of marijuana.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tilray Brands, Inc. could see a favorable impact from the potential rescheduling of marijuana, which would facilitate research and improve tax conditions.
Tilray, being a key player in the cannabis market, would likely see positive effects from any regulatory changes that make research easier and provide tax relief.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70