The ongoing DEA administrative proceeding to move all marijuana from Schedule I to Schedule III under the Controlled Substances Act centers on hearings concluded in July 2026, where the agency argued the substance meets criteria for currently accepted medical use and safety under supervision. A separate April 2026 final rule already placed FDA-approved products and state-licensed medical marijuana in Schedule III. On September 29, opponents secured a temporary stay from Chief ALJ Derek Julius to consider a GAO report questioning federal scheduling processes and abuse-potential criteria, with government responses due October 13. This procedural pause has shifted expectations for an ALJ recommendation and subsequent DEA Administrator decision into 2027, though analysts view it as a delay rather than a reversal. Trader consensus reflects the multi-step rulemaking timeline, potential for further briefing, and distinction between medical and broader rescheduling outcomes.