History Was Made Today, Cannabis Investors! The Drug Enforcement Administration has called for cannabis to be reclassified under federal law, in what the U.S. Cannabis Council called a “a tectonic shift.” 

Plus, follow Benzinga Cannabis for more coverage on how the industry reacts.

Also, check out the newest episode of Cannabis Insider, also available on Apple and Spotify.

Puff Pass: Did someone forward you this email? Click here to get automatically subscribed.

TOP STORY

DEA Moves To Reschedule Cannabis

Briefly: The DEA will move to reclassify marijuana as a less dangerous drug.

What It Means: Per the Associated Press, the DEA's proposal, which still must be reviewed by the White House Office of Management and Budget, would recognize the medical uses of cannabis and acknowledge it has less potential for abuse than some of the nation's most dangerous drugs.

Why It Matters: The agency's move clears the last significant regulatory hurdle before its biggest policy change in over 50 years can take effect.

What Next: Once the White House signs off, the DEA is expected to publicly comment on the plan to move marijuana from its current classification as a Schedule I drug alongside dangerous drugs like heroin and LSD.

Read more here.

PRESENTED BY BENZINGA MARKET SPOTLIGHT: NEW JERSEY - CANNABIS

Benzinga Networking Event Spotlighting on New Jersey Cannabis Regulation and Legalization

Why You Should Attend:

• Second regional spotlight after a SOLD OUT event in California and overwhelming support from the big crowd at CCC Florida

• We'll be focusing on New Jersey, a growing market, but touching on broader market trends in neighboring markets like New York and Pennsylvania

• NETWORKING is a huge benefit to a one-day event like this, regardless of what market someone is in

• Great opportunity to learn about best practices - really important for dispensaries, growers, really anyone in the ecosystem

Date and time: Monday June 17 · 8am - 5:30pm EDT

Location: New Brunswick Performing Arts Center (NBPAC)

Register here.

ONE MORE FOR THE ROAD

Cannabis Stocks And ETFs Surge As DEA Moves To Reschedule Marijuana

Briefly: The cannabis sector saw a notable upswing following the news of the DEA’s proposal.

Price Action: Here’s how some of the top U.S. and Canadian cannabis stocks are trading at the time of writing.

KEEP READING

Before you go, be sure to subscribe to our other newsletters:

Ring The Bell: If you have to pick just one daily financial newsletter, it’s not a choice. Subscribe here.

The Street Sheet: A Wall Street cheat sheet, delivered every Sunday directly to your inbox. One-click subscribe here.

Future Finance: TradFi is tired. Wake up to the future of finance with this midday fintech and crypto letter. Subscribe here.

The Flag: Top takes from Washington to Wall Street impacting policy and your portfolio. One-click subscribe here.