Curaleaf Stock Surges on Federal Marijuana Rescheduling Prospects

Curaleaf Holdings (CURLF) soared over 10% Wednesday, dramatically outpacing the broader market's 0.3% gain, as political momentum built for federal cannabis reform. The rally followed dual catalysts: President Trump's Monday comments about considering marijuana rescheduling and Representative Greg Steube's (R-FL) reintroduction of the "Marijuana 1-to-3 Act."

Steube's bill seeks to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act within 60 days of passage. Such a move WOULD recognize marijuana's medical utility and reduce regulatory barriers. "The opportunities for research and study are drastically expanded," Steube argued during previous advocacy efforts, underscoring the scientific rationale behind rescheduling.

The political calculus appears sound. Recent polling shows 70% of Americans support federal cannabis legalization, creating rare bipartisan alignment. Market participants now weigh the likelihood of administrative action versus legislative progress as the DEA considers a separate rescheduling recommendation from health authorities.