EL7.AI
StocksMediumUpdated×11•Originally published 23 April 2026•Updated 24 April 2026•
1 min read

US DOJ Reclassifies Medical Marijuana to Schedule III, Sparking Cannabis Stock Rally

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Key Facts

1The DOJ and DEA announced that medical marijuana products will be moved immediately from Schedule I to Schedule III.
2The reclassification is designed to expand access to approved therapies and support regulated medical programs in 40 states.
3Cannabis stocks including CGC, TLRY, and ACB rose between 5% and 8% in premarket trading following the news.

The US Department of Justice has officially moved medical marijuana from Schedule I to the less restrictive Schedule III, with Acting Attorney General Todd Blanche signing the formal order. Trulieve CEO Kim Rivers confirmed that this move will allow businesses to normalize operations and benefit significantly from federal tax reform. Rivers also highlighted the importance of distinguishing between various medical product forms, such as edibles and vapes, under the new regulatory framework. This change aims to support regulated medical programs across 40 states while alleviating heavy financial burdens on cannabis enterprises. Despite the strategic milestone, major sector stocks including CGC, TLRY, and ACB turned lower on Thursday in a 'sell the news' reaction. The industry now looks toward long-term federal legitimacy and the economic benefits of this immediate regulatory implementation.