09:20 AM EDT, 04/23/2026 (MT Newswires) -- Tilray Brands (NASDAQ and TSX: TLRY) is "positioned"for expansion in the United States as federal policy there has opened the door to rescheduling of cannabis from Schedule I to Schedule III under the Controlled Substances Act, the company said Thursday,

Shares in Tilray, a player in the cannabis, beverage, and wellness industries, were at at last look up more than 12% in US premarket trade on what the company called "an inflection point". They rose more than 14% in the US yesterday.

"A defining inflection point that represents a fundamental shift in U.S. drug policy, unlocking significant opportunities for medical cannabis clinical research, patient access, and industry standardization. The action represents the most consequential federal cannabis policy development in decades, accelerating the emergence of a regulated, science-driven medical cannabis framework in the United States,"Tilray in a statement.

Rescheduling has the potential to accelerate clinical research, broaden access, and "elevate the quality, consistency, and safety standards that establish medical cannabis as a legitimate pillar of modern healthcare", added Irwin D. Simon, Chairman and Chief Executive Officer.