Weed rescheduled by...?

Traders currently price "December 31" at 27% for "Weed rescheduled by...?". Over the past 24 hours that probability moved down 1.6 points. Full distribution: December 31 27%, September 30 14%, July 31 0%, March 31 0%. The market has traded $796K in total volume and resolves Mar 31, 2026. Recent executive actions under the current administration, including a December 2025 order directing expedited rulemaking and an April 2026 DOJ directive, have immediately moved FDA-approved cannabis products and state-licensed medical marijuana to Schedule III of the Controlled Substances Act while launching a streamlined administrative hearing process. Those hearings on broader rescheduling from Schedule I began June 29, 2026, and concluded by mid-July, setting the stage for a potential final rule. Traders weigh the compressed timeline and partial implementation already achieved against procedural requirements for full rescheduling, such as public comment periods and agency review, which could extend into late 2026 or beyond depending on any remaining legal or administrative steps.

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