Wall Street Thinks Marijuana Rescheduling Is a Done Deal. MMJ May Be Holding a Very Different Hand

WASHINGTON, May 22, 2026 (Newswire.com) - While investors count future tax savings and stock gains, one company sits in a position that could significantly slow the entire process.

Most cannabis investors are focused on what happens after the June 29 DEA hearing.

They are talking about:

• Billions in potential 280E tax savings.

• Higher stock prices.

• Institutional investors entering the sector.

• Possible exchange uplisting.

• Easier access to capital.

In other words, everyone is discussing the rewards.

Very few are discussing the risks.

And almost nobody is discussing MMJ International Holdings.

Think Of It Like A Football Game

Most marijuana companies have been playing on state fields for years.

MMJ chose a completely different route.

Instead of obtaining state marijuana licenses, MMJ spent nearly eight years trying to follow the federal rules:

• FDA drug development.

• FDA IND applications.

• Orphan Drug Designation.

• DEA registrations.

• DEA manufacturing applications.

While state operators built dispensaries, MMJ built a pharmaceutical company.

That difference matters today.

Why MMJ Is Different

Imagine standing in line at the DMV.

You arrive first.

You follow every rule.

You fill out every form.

You wait for years.

Then the people who never got in line are suddenly allowed to walk directly to the front counter.

Most people would be angry.

That is essentially MMJ's argument.

MMJ applied for a federal marijuana manufacturing registration in 2018 and is still waiting for a final resolution.

Meanwhile, many investors expect state marijuana operators to receive enormous benefits if marijuana moves to Schedule III.

The Problem Nobody Is Talking About

The June 29 hearing is not simply about marijuana.

It is about whether the process itself can survive legal challenges.

MMJ has already challenged the DEA's administrative process in federal court.

Even more important, the Department of Justice previously acknowledged constitutional concerns regarding the DEA Administrative Law Judge structure.

That means if MMJ receives an unfavorable outcome, the company could potentially return to federal court with a stronger argument than before.

The Treaty Issue

There is another question that almost nobody on Wall Street is asking.

The United States is still bound by the international drug treaty known as the Single Convention on Narcotic Drugs.

For years, DEA has used those treaty obligations to justify strict controls on federally registered marijuana manufacturers.

But if marijuana moves to Schedule III:

• Federal production quotas largely disappear.

• State marijuana licenses continue operating.

• Yet the treaty obligations remain.

So the obvious question becomes:

How can DEA continue to tell federally compliant companies they must follow treaty-based controls while state-licensed businesses operate under an entirely different system?

That question has never been fully answered.

Why Investors Should Care

Investors are assuming:

June 29 Hearing -> Rescheduling -> 280E Relief -> Higher Stock Prices

But reality may be:

June 29 Hearing -> Litigation -> Appeals -> Delays -> Uncertainty

That does not mean rescheduling fails.

It means the timeline may be far less certain than investors believe.

The Bottom Line

Wall Street is acting as if rescheduling is simply a matter of time.

MMJ occupies a unique position because it:

• Followed the federal rules.

• Has been waiting for years.

• Has active disputes with DEA.

• Has already raised constitutional issues.

• Can challenge the process from a position that many state operators cannot.

The biggest risk to marijuana rescheduling may not be whether marijuana should move to Schedule III.

The biggest risk may be whether the legal process used to get there can survive the challenges that are likely to follow.

And that is why MMJ may be holding more cards than most investors realize.

CONTACT:
Madison Hisey
[email protected]
203-231-8583

SOURCE: MMJ International Holdings

Source: MMJ International Holdings