Recent executive actions under the Trump administration, including a December 2025 order directing expedited rulemaking and an April 2026 Attorney General directive, have moved FDA-approved marijuana products and state-regulated medical cannabis into Schedule III while launching a streamlined DEA administrative hearing on broader rescheduling from Schedule I. That hearing convened June 29, 2026, and concluded no later than July 15, with participant selection and procedural rulings favoring an accelerated track. Trader consensus on near-term resolution dates reflects expectations that the DEA will issue a final rule shortly after the record closes, subject to standard administrative timelines and any intervening legal challenges. Key variables include the pace of post-hearing deliberations, potential court interventions, and whether the agency treats the partial Schedule III placement as precedent for full implementation. No further public milestones are scheduled before September.