Federal Appeals Court Denies Bid to Block Trump Marijuana Rescheduling

Regulation
โดย Seeking Alpha·US·Read original
Summary · why it matters

A federal appeals court has denied a request by two parties seeking to block the Trump administration's plan to reschedule marijuana for medical purposes. The motion came from the National Drug and Alcohol Screening Association and MMJ International Holdings, which argued that marijuana abuse has consequences and that providing tax benefits to cannabis companies will lead to more sales and abuse. The Justice Department said in its brief that the challengers' attempt stemmed from "pocketbook interests served by keeping all marijuana in Schedule I," according to Marijuana Moment. An order signed in April by US Attorney General Todd Blanche would move medical marijuana from Schedule I to Schedule III under the Controlled Substances Act, giving licensed medical marijuana operators tax breaks and easing some barriers to researching cannabis. The ruling clears the way for the rescheduling to proceed, a development relevant to multi-state operators such as Curaleaf Holdings, Cresco Labs, Green Thumb, Trulieve Cannabis, Ayr Wellness, TerrAscend, Verano Holdings and Village Farms International, as well as cannabis-focused ETFs including AdvisorShares Pure Cannabis ETF, ETFMG Alternative Harvest ETF, Amplify Seymour Cannabis ETF and AdvisorShares Pure US Cannabis ETF.

Impact on stocks 2

Consumer Staples▲ · 1 stocks
Trulieve Cannabis Corp.
TRLV
▲ PositiveRegulationrelevance

Rescheduling to Schedule III proceeds after the appeals court denial, benefiting Trulieve as a licensed medical marijuana operator with tax breaks.

Climate Adaptation & Water▲ · 1 stocks
Village Farms International Inc
VFF
▲ PositiveRegulationrelevance

Court denial clears the way for medical marijuana rescheduling to Schedule III, giving licensed operators like Village Farms tax breaks and research easing.

Off-coverage companies 4

Cresco Labs Inc.Private▲ Positive
Regulationrelevance

Appeals court denial clears rescheduling to Schedule III, easing tax and research barriers for Cresco Labs as a licensed operator.

Green Thumb Industries Inc.Private▲ Positive
Regulationrelevance

The ruling lets the Trump administration's Schedule III rescheduling proceed, giving Green Thumb tax benefits as a licensed operator.

TerrAscendPrivate▲ Positive
Regulationrelevance

Rescheduling to Schedule III moves forward, giving TerrAscend tax breaks and reduced barriers as a licensed medical marijuana operator.

Ayr WellnessPrivate▲ Positive
Regulationrelevance

Court ruling clears the way for marijuana rescheduling to Schedule III, giving licensed medical marijuana operators like Ayr Wellness tax breaks and easing research barriers.

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