- Weed rescheduled by December 31?11¢11%
The DEA administrative process for moving botanical marijuana from Schedule I to Schedule III remains in a limited briefing phase following an October 22 order from Chief ALJ Derek Julius. That ruling admitted a September GAO report highlighting gaps in federal scheduling procedures but denied requests to reopen the June-July 2026 hearings for additional testimony. Optional briefs on the report’s weight are due by November 5, after which the stay lifts and the judge can issue a nonbinding recommendation. An April 2026 Attorney General order already placed state-licensed medical marijuana and FDA-approved products into Schedule III, with the DEA issuing initial federal registrations to over 900 dispensaries in seven states as the first implementation step. Broader rescheduling covering adult-use cannabis requires the full hearing record, agency decision, and potential further review, keeping near-term resolution unlikely.
Rules
This market will resolve to "Yes" if marijuana is rescheduled down from I to any other level (or is unscheduled completely) by the Drug Enforcement Agency of the United States (https://www.dea.gov/drug-information/drug-scheduling), by December 31, 2026, 11:59 PM ET. Otherwise, this market will resolve to "No". The primary resolution source for this market will be official information from the US government, however a consensus of credible reporting will also be used.