MORE Act
Summary
The MORE Act (HR5068) is an early-stage bill to federally decriminalize cannabis. It has been referred to nine committees and has 72 cosponsors, but remains in the House with no Senate companion. The bill authorizes no direct funding and faces a long legislative path. Market impact is currently minimal.
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Key Takeaways
- 1.The MORE Act is in early legislative stage with no near-term market impact.
- 2.No direct funding is authorized; the bill's mechanism is regulatory decriminalization.
- 3.If passed, cannabis operators like $TLRY, $CGC, and $MSOS would benefit structurally.
Market Implications
The bill is too early-stage to drive market moves. Cannabis stocks may see speculative interest if the bill gains momentum, but currently there is no actionable catalyst. Investors should monitor committee hearings and Senate companion bill introduction.
Full Analysis
- What happened and its current status: The Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) was introduced in the House on August 29, 2025, by Rep. Nadler (D-NY) and referred to nine committees. As of January 13, 2026, it was referred to the Subcommittee on Conservation, Research, and Biotechnology. The bill is in early stage with no further action. 2) The money trail: The bill does not authorize or appropriate any direct funding. It establishes a trust fund for community reinvestment funded by an excise tax on cannabis, but no dollar amount is specified. Authorization is not appropriation; actual spending would require separate appropriations bills. 3) Structural winners and losers: If passed, the bill would benefit U.S. cannabis operators like $TLRY, , and the ETF by removing federal prohibition, enabling interstate commerce, banking access, and exchange uplisting. No tickers are negatively impacted directly. 4) Market data: No real market data provided for cannabis stocks. 5) Timeline: The bill must pass the House, Senate, and be signed by the President. With 72 cosponsors and a Democratic sponsor, but a Republican-controlled House (119th Congress), passage is highly uncertain. No Senate companion bill exists.
Intelligence Surface
Cross-referenced against federal contracts, SEC insider filings & congressional trade disclosures
No confirming evidence found yet from contracts, insider trades, or congressional activity
What the bill does
Decriminalization and descheduling of cannabis under the Controlled Substances Act, eliminating federal criminal penalties for manufacture, distribution, and possession.
Who must act
Federal law enforcement agencies (DEA, DOJ) and cannabis businesses operating in states with legal markets.
What happens
Removes federal prohibition risk for state-legal cannabis operators, enabling interstate commerce, banking access, and potential uplisting to major U.S. stock exchanges.
Stock impact
TLRY, as a leading multi-state operator with U.S. and Canadian exposure, would benefit from reduced regulatory burden, improved capital access, and potential revenue growth from expanded legal market participation.
Connected Signals
Matched on shared policy language across AI analyses, with ticker & timing weight
Combating Organized Retail Crime Act of 2025
Modern Worker Security Act
Executive Order: Restoring Integrity to America’s Financial System
Proclamation: Further Adjusting the Tariff Regimes for Imports of Aluminum, Steel, and Copper into the United States
Executive Order: Removing Unnecessary and Counterproductive Restrictions on Access to Federal Lands
To expand the sharing of information with respect to suspected violations of intellectual property rights in trade.
Growing and Preserving Innovation in America Act of 2025
Direct Seller and Real Estate Agent Harmonization Act
Related Presidential Actions
Executive orders & memoranda affecting the same sectors or companies
Further Adjusting the Tariff Regimes for Imports of Aluminum, Steel, and Copper into the United States
This proclamation modifies existing Section 232 tariffs on aluminum, steel, and copper imports by expanding the list of derivative products eligible for a reduced 15% duty to include agricultural equipment and residential HVAC systems, temporarily reducing tariffs on mobile industrial equipment, adding aluminum lithographic plates and steel racks to the derivative tariff coverage, and lowering the threshold for products to qualify as made 'entirely' from American metals from 95% to 85%.
Removing Unnecessary and Counterproductive Restrictions on Access to Federal Lands
This executive order rescinds two 1970s-era executive orders (11644 and 11989) that required federal agencies to use vague environmental and social criteria when designating off-road vehicle use on federal lands. It directs the Secretaries of War, Interior, Agriculture, the TVA Board, and other relevant agency heads to initiate rulemakings to remove or revise regulations based on those criteria, aiming to increase access for energy, timber, utility maintenance, and recreation.
To Implement Certain Provisions in the Consolidated Appropriations Act, 2026, and for Other Purposes
This proclamation implements provisions of the Consolidated Appropriations Act, 2026, extending duty-free treatment under the African Growth and Opportunity Act (AGOA) through December 31, 2026, including the regional apparel article program and third-country fabric program. It also redesignates Gabon as a beneficiary sub-Saharan African country effective January 1, 2026, and extends preferential tariff treatment for Haiti under the Caribbean Basin Economic Recovery Act (CBERA) through December 31, 2026, with updated percentage limits for apparel imports. The proclamation directs modifications to the Harmonized Tariff Schedule of the United States (HTSUS) and authorizes agencies to implement these changes.