The Trump administration on Thursday moved FDA-approved marijuana products and cannabis products sold under qualifying state medical marijuana licenses from Schedule I to Schedule III under federal law, while also setting a new administrative hearing for June 29, 2026 to restart and expedite the broader DEA reprogramming process.

Department of Justice said The immediate action is intended to support medical research and state-regulated medical programs while maintaining “strict federal controls against illegal drug trafficking.”

For now, the change only affects FDA-approved marijuana products and state medical marijuana markets, not adult-use cannabis businesses. This distinction is critical for the broader industry: adult-use operators are not getting immediate 280E tax relief under this order, and the measure does not provide any direct bank relief for adult-use businesses that remain federally illegal.

The administration’s announcement also indicated that the existing rescheduling process initiated by the DEA under the Biden administration would be scrapped for a new, expedited process beginning with a hearing in June. That broader process is expected to determine whether marijuana in general will be moved out of Schedule I, a question that remains especially important to adult-use operators still mired in the federal-state standoff.

“After further review, the DEA is withdrawing the prior notice of HEARING and the completion of these proceedings to move more efficiently toward the completion of the full redefinition of marijuana. This action will expedite the administrative process, include established deadlines, and allow DEA to proceed in the most expeditious manner consistent with federal law. The DEA will hold a new administrative hearing beginning June 29, 2026, regarding the proposed rescheduling of marijuana. – through the announcement of the Department of Justice

While the change represents the most significant change in federal cannabis policy in decades, even if cannabis is fully reclassified as a Schedule III substance, people currently serving time in prison for possession of cannabis will not be directly affected by the change, and businesses on the adult-use side of the industry will still be considered federally illegal.