The week opens with a landmark moment for cannabis capital markets as Trulieve prepares to become the first US cannabis company to list on a major American exchange. That milestone sits alongside mounting legal pressure on the Trump administration’s April rescheduling order, now facing coordinated challenges from conservative state attorneys general. California moves to align its licensing framework with new federal registration requirements, Alabama opens its long-delayed medical market, and the WNBA removes cannabis from its banned substances list.
Trulieve Cannabis Corp. announced on 5 June that its subordinate voting shares have been approved for listing on the New York Stock Exchange, with trading expected to begin under the ticker TRLV at the opening bell on 10 June. The company becomes the first US cannabis operator to secure a berth on a major American exchange, a transition made possible by the Trump administration’s April rescheduling of state-licensed medical cannabis to Schedule III of the Controlled Substances Act. Trulieve reported first-quarter revenue of $287 million and adjusted EBITDA of $100 million. Chief executive Kim Rivers called the listing “a historic milestone” that will broaden the shareholder base and deepen liquidity in a sector long excluded from mainstream capital markets. Track cannabis stock performance via the Cannabis Stocks Tracker.
The attorneys general of Indiana and Nebraska have filed a lawsuit in the US Court of Appeals for the DC Circuit challenging the Justice Department and DEA’s April 23 order reclassifying state-authorised medical cannabis from Schedule I to Schedule III. The court has consolidated the case with an earlier suit from the prohibitionist group SAM Inc. and the National Drug and Alcohol Screening Association, which argues the order violates the Administrative Procedures Act and exceeds the Attorney General’s authority. The consolidated action is the most significant legal threat to the rescheduling process and will frame the formal DEA hearing beginning 29 June. NORML reported the development on 4 June. For further context, see the Cannabis Rescheduling tracker.
California’s Department of Cannabis Control adopted emergency regulations on 5 June allowing marijuana retailers holding combined adult-use and medical licences to separate them into two distinct licences, enabling businesses to pursue DEA Schedule III registration ahead of a 26 June priority deadline. Licensees must submit modification requests using Form 9207 and ensure exact ownership matching between the new licences. The department stated it is “not advising businesses on whether pursuing federal registration is the right decision” and recommends consulting legal counsel. The rules represent one of the most concrete state-level responses to the April rescheduling order, which opened a DEA registration pathway for state-licensed medical operators. The original reporting appeared in The Marijuana Herald.
Alabama’s medical cannabis programme opened for patients on 4 June, with the first state-sanctioned sale taking place at Callie’s Apothecary in Montgomery — more than five years after lawmakers enacted the Alabama Medical Cannabis Act in 2021. The delayed launch followed extended regulatory disputes and court challenges over the licensing process. NORML reported that the milestone concluded years of patient advocacy for access to qualifying treatments. Alabama joins more than 40 states and the District of Columbia that permit medical cannabis in some form, as the post-rescheduling environment shifts federal enforcement expectations for state-licensed programmes.
The Women’s National Basketball Association removed cannabis from its prohibited substances list under a new collective bargaining agreement with its players union, as reported by Marijuana Moment on 4 June. The revised policy allows WNBA players to hold passive ownership stakes in cannabis companies and promote CBD products, though testing continues for players who enter treatment programmes or show signs of dependency. Psychedelics — including psilocybin and DMT — and synthetic cannabinoids such as delta-8-THC were added to the banned list. The decision reflects a wider shift in professional sport towards cannabis policy liberalisation following federal rescheduling. See related corporate developments on the Cannabis Companies hub.
The DEA’s formal hearing, beginning 29 June, will determine whether broader rescheduling of all cannabis to Schedule III — beyond state-licensed medical products — proceeds. Businesses in states with active licensing frameworks, including California, should monitor DEA registration guidance closely as the 26 June priority window approaches. Stay up to date with all the latest on the Cannabis News Hub.
The post Cannabis News Today — Monday 8 June 2026: First US Cannabis Stock Reaches Major Exchange as Rescheduling Faces Legal Pressure appeared first on Business of Cannabis.
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Trulieve to Make History with NYSE Debut on 10 June
Trulieve Cannabis Corp. announced on 5 June that its subordinate voting shares have been approved for listing on the New York Stock Exchange, with trading expected to begin under the ticker TRLV at the opening bell on 10 June. The company becomes the first US cannabis operator to secure a berth on a major American exchange, a transition made possible by the Trump administration’s April rescheduling of state-licensed medical cannabis to Schedule III of the Controlled Substances Act. Trulieve reported first-quarter revenue of $287 million and adjusted EBITDA of $100 million. Chief executive Kim Rivers called the listing “a historic milestone” that will broaden the shareholder base and deepen liquidity in a sector long excluded from mainstream capital markets. Track cannabis stock performance via the Cannabis Stocks Tracker.
Republican Attorneys General Move to Overturn Medical Cannabis Rescheduling
The attorneys general of Indiana and Nebraska have filed a lawsuit in the US Court of Appeals for the DC Circuit challenging the Justice Department and DEA’s April 23 order reclassifying state-authorised medical cannabis from Schedule I to Schedule III. The court has consolidated the case with an earlier suit from the prohibitionist group SAM Inc. and the National Drug and Alcohol Screening Association, which argues the order violates the Administrative Procedures Act and exceeds the Attorney General’s authority. The consolidated action is the most significant legal threat to the rescheduling process and will frame the formal DEA hearing beginning 29 June. NORML reported the development on 4 June. For further context, see the Cannabis Rescheduling tracker.
California Enables DEA Registration with Emergency Licence-Split Rules
California’s Department of Cannabis Control adopted emergency regulations on 5 June allowing marijuana retailers holding combined adult-use and medical licences to separate them into two distinct licences, enabling businesses to pursue DEA Schedule III registration ahead of a 26 June priority deadline. Licensees must submit modification requests using Form 9207 and ensure exact ownership matching between the new licences. The department stated it is “not advising businesses on whether pursuing federal registration is the right decision” and recommends consulting legal counsel. The rules represent one of the most concrete state-level responses to the April rescheduling order, which opened a DEA registration pathway for state-licensed medical operators. The original reporting appeared in The Marijuana Herald.
Alabama Patients Access Medical Cannabis for the First Time After Five-Year Wait
Alabama’s medical cannabis programme opened for patients on 4 June, with the first state-sanctioned sale taking place at Callie’s Apothecary in Montgomery — more than five years after lawmakers enacted the Alabama Medical Cannabis Act in 2021. The delayed launch followed extended regulatory disputes and court challenges over the licensing process. NORML reported that the milestone concluded years of patient advocacy for access to qualifying treatments. Alabama joins more than 40 states and the District of Columbia that permit medical cannabis in some form, as the post-rescheduling environment shifts federal enforcement expectations for state-licensed programmes.
WNBA Removes Cannabis from Banned Substances Under New Collective Agreement
The Women’s National Basketball Association removed cannabis from its prohibited substances list under a new collective bargaining agreement with its players union, as reported by Marijuana Moment on 4 June. The revised policy allows WNBA players to hold passive ownership stakes in cannabis companies and promote CBD products, though testing continues for players who enter treatment programmes or show signs of dependency. Psychedelics — including psilocybin and DMT — and synthetic cannabinoids such as delta-8-THC were added to the banned list. The decision reflects a wider shift in professional sport towards cannabis policy liberalisation following federal rescheduling. See related corporate developments on the Cannabis Companies hub.
The DEA’s formal hearing, beginning 29 June, will determine whether broader rescheduling of all cannabis to Schedule III — beyond state-licensed medical products — proceeds. Businesses in states with active licensing frameworks, including California, should monitor DEA registration guidance closely as the 26 June priority window approaches. Stay up to date with all the latest on the Cannabis News Hub.
The post Cannabis News Today — Monday 8 June 2026: First US Cannabis Stock Reaches Major Exchange as Rescheduling Faces Legal Pressure appeared first on Business of Cannabis.
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