admin

In Latest News

Expired Obamacare subsidy deal inches toward Senate floor vote amid bipartisan talks

January 7, 2026 No Comments

A bipartisan group of senators is still working on a fix for the now-expired Obamacare subsidies and believe that they may be nearing a proposal that could hit the Senate floor.

The confab, which met a handful of times during Congress’ holiday break, adjourned once more behind closed doors on Monday night. Sens. Susan Collins, R-Maine, and Bernie Moreno, R-Ohio, are leading the talks among several Senate Republicans and Democrats looking for a compromise solution.

Most who attended the meeting were tight-lipped on specifics of the still-simmering proposal, but Collins noted the plan was similar to the initial offering from her and Moreno.

‘Parts of the bill are similar to what Senator Moreno and I proposed originally, with a two-year extension, with some reforms in the first year and then more substantial reforms in the second year,’ she said.

Their original plan — one of several floating around in the upper chamber — would have extended the subsidies by two years, put an income cap onto the credits for households making up to $200,000 and eliminated zero-cost premiums as a fraud preventive measure by requiring a $25 minimum monthly payment.

Sen. Tim Kaine, D-Va., one of the lawmakers who has routinely attended the meetings, said the talks were going well.

‘We had a really good discussion last night,’ Kaine said. ‘I don’t want to characterize it other than we had a really good discussion.’

And Senate Majority Leader John Thune, R-S.D., said that he had gotten an update on negotiations from Moreno Tuesday morning and believed that the bipartisan huddles had been productive.

Still, any plan that hits the floor has to hit several benchmarks for Republicans, including antifraud guardrails, a transition into health savings accounts (HSAs) and more stringent anti-abortion language.

‘The keys are reforms, obviously, and then how do you navigate [the Hyde Amendment],’ Thune said. ‘I think that’s probably the most challenging part of this. But again, I think there’s potentially a path forward, but it’s something that has to get a big vote, certainly a big vote.’

The Hyde Amendment issue is a barrier for both sides of the aisle, given that Senate Republicans demand that changes be made to the subsidies, and more broadly Obamacare, to prevent any taxpayer dollars from funding abortions.

That debate received a wrinkle Tuesday when President Donald Trump told House Republicans ‘you have to be a little flexible’ when it comes to the Hyde Amendment.

That triggered mixed reactions from Republicans in the upper chamber.

Sen. James Lankford, R-Okla., said that he had ‘no idea the context’ of Trump’s remarks but affirmed that he was ardently against funding abortions.

‘I’m saying I’m not flexible in the value of human life,’ Lankford said. ‘Life is valuable. I don’t believe some children are disposable, and some children are valuable. I think all children are valuable.’

Senate Democrats largely viewed Trump’s comments as a sign of progress — that maybe Republicans would budge on the Hyde issue. But flexibility goes both ways, and Sen. Ron Wyden, D-Ore., and top-ranking Democrat on the Senate Finance Committee, wasn’t ready to budge on the matter.

‘I am not going to open the door to Hyde, given what happens and what has been seen historically when you do that,’ he said. ‘If you open the door, it will get drafty in a hurry, and I’m not going to let it happen.’

Moreno signaled that Republicans might have to make a compromise on the issue if they wanted to move ahead with any kind of healthcare fix that could pass muster in the Senate.

He noted that there was a sense that ‘maybe the Obamacare language wasn’t as adherent to that philosophy [of Hyde] as it should be.’

‘But that’s not something that we’re looking — able to change right now,’ he said. ‘Because, quite frankly, if you put Hyde up to a vote among Democrats today, as opposed to Democrats 20 years ago, it would probably fail 46 to one on the Democrat side. So unfortunately, most Democrats today feel that there should be federal funding for abortion.’

This post appeared first on FOX NEWS

In Economy

The W.E.B. Du Bois We Lost: Marginal Economist?

January 7, 2026 No Comments

W.E.B. Du Bois was born in Great Barrington, Massachusetts (where AIER is now headquartered), in 1868. Today, this towering figure of the early civil rights movement is remembered as a groundbreaking sociologist, Pan-African socialist, and near-mythical hero to the intellectual left.

“He’s a reformist,” philosopher Cornel West told a classroom of Dartmouth students in a 2017 lecture on Du Bois’ long path to becoming a revolutionary. “But he’s a radical reformist, no doubt.”

But there was once a W.E.B. Du Bois who was radical mainly in the scientific sense. Before drifting into the study of history and sociology, he was an economics student at Harvard. The marginal revolution had just remade the dismal science into a more mathematical and literally “edgy” subject. And Du Bois made original contributions that leveraged insights from the free-market Austrian school and anticipated later developments in neoclassical economic thought, as Daniel Kuehn explains in a recent paper published in the Journal of Economic Perspectives.

Similarly, the young Du Bois’ recommendations for black racial uplift bore surprising similarities to the modern-day conservative economist Thomas Sowell. What caused his later radicalization? It was arguably a tragedy of racism.

Du Bois’ maternal great-great-grandfather was born in Africa and enslaved in America. But in the late 1700s he gained his freedom, possibly by fighting in the American Revolution. By the time Du Bois was born in Great Barrington, the town had a small but largely integrated black population. Du Bois’ mother (his father had abandoned the family when Du Bois was a toddler) owned land, and he learned and played at the public school alongside white kids. In 1888, having already studied at historically black Fisk University, he became only the sixth African American student to matriculate at Harvard.

Studying under Frank Taussig, Du Bois wrote a 158-page essay titled A Constructive Critique of Wage Theory. It included a thorough review of Carl Menger, one of the drivers of the marginal revolution, and his insight that the market value of goods and services does not depend on the value of inputs, but rather the value that consumers place on the most recent, or marginal, unit of output.

In his essay, Du Bois built on such work and rigorously demonstrated what Kuehn terms “a statement of wages as equal to the marginal revenue product… Du Bois identifies this need to think in terms of what would ultimately be called the marginal revenue product of labor.”

Kuehn goes on to note that Du Bois provides “one of the earliest acknowledgements that a labor-leisure trade-off determines individual labor supply in the marginalist framework.”

A year later, Du Bois left Harvard for two years of study at what is today the Humboldt University of Berlin. There he was exposed to a more historical approach to economics under scholars such as Adolph Wagner. Du Bois’ interests evolved, and when he returned to Harvard to finish a PhD (the first PhD Harvard would award to an African American), it was in history.

In his autobiography published in 1968, Du Bois would look back and characterize the economics he studied under Taussig as “reactionary” and “dying.” But as a newly minted PhD, Du Bois still had a long way to go to reach that point. His early works such as The Study of the Negro Problems (1898), The Philadelphia Negro (1899), and The Negro in Business (1899, which he edited), mention family cohesion, productive skills acquisition, and entrepreneurship as keys to black uplift. The required precursor, he believed, was ending racial discrimination.

But having taken a position at Atlanta University in Georgia, Du Bois was immersed in the South’s era of Jim Crow segregation. It was a time when a black man accused of a heinous crime against whites could find himself facing, rather than a court of law, mob action determined to surpass in barbarity the alleged underlying crime. Sam Hose was such a man, alleged to have murdered his white employer in 1899. A mob kidnapped him from a jail in Newnan, Georgia, dismembered him and burned him alive. Another black man was shot to death for “talking too much” about the attack on Hose.

Du Bois later reported in his autobiography that on his way to meet an Atlanta newspaper editor to discuss the lynching, he learned the burnt knuckles of Hose’s hand were on display in a nearby store window. He said the experience “broke in upon my work and eventually disrupted it…one could not be a calm, cool, and detached scientist while Negroes were lynched.”

Was this the final disappearance of the W.E.B. Du Bois who had once made those economic breakthroughs at Harvard? Subsequent years saw him drift to the left. In 1910, Du Bois joined the Socialist Party of America. In 1926, he visited the new Soviet Union, which he saw as a beacon of hope for racial equality. In 1961, he joined the Communist Party USA. By this time, he seemed to believe that, rather than having potential for black uplift, capitalism was an obstacle to it.

The suffering of The Great Depression likely played a role in his views, as it did for some others. But one wonders how much Du Bois’ embrace of socialism had to do with the simple fact that, for all their proven faults, such regimes tend not to be concerned with skin color. They oppress all races the same.

We live in a time when many young people have a similarly friendly view of socialism. They see the historic wealth produced by free markets not as a path to their dreams but an obstacle to them. And like the evolution of Du Bois’ economic thought, it’s a tragedy.

In Investing

Prismo Metals Announces Assay & IP Survey Results at Silver King

January 7, 2026 No Comments

(TheNewswire)

Crown Porphyry-Stockwork Drill Targets Confirmed

Vancouver, British Columbia, January 7th, 2026 TheNewswire Prismo Metals Inc. (‘Prismo’ or the ‘Company’) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce it has received final assay results for samples taken at the Silver King Project from the Crown porphyry target area located on the east side of the property (Fig. 1).

Click Image To View Full Size

Figure 1. Map showing the location of the Crown porphyry and stockwork and Black Diamond replacement exploration targets at the Silver King project. Claim boundaries are shown in yellow.

Overlimit silver assays have been received for the samples taken in late 2025, showing high grade silver mineralization associated with quartz-sulfide veins hosted by the Crown porphyry (Fig 2, Table 1). These assays provide evidence for a high-priority drill target, especially when taken in conjunction with the high gold assays reported previously for the stockwork intrusion (see the News Release of Dec. 3, 2025).

‘Prismo optioned Silver King with existing drill targets around the historically significant high-grade silver mine. Based on the geology and its location in a well mineralized region, we believed that additional mineralization was also likely present. Our work in the second half of 2025 indicates that we were correct, and we now have exceptional drill targets at the Crown porphyry and adjacent Black Diamond replacement areas,’ stated Craig Gibson, Chief Exploration Officer of the Company. He added, ‘With the high-grade gold assays reported in December and the copper assays at the Black Diamond replacement, we now have a very significant precious-metal and copper target at Silver King similar to other areas in this well mineralized district that includes the Magma mine and the Resolution copper deposit.’

‘These additional assay results along with the IP survey information continue to enhance and support our exploration thesis of the Silver King mine and surrounding areas,’ stated Gordon Aldcorn. ‘This modern-day review has yielded additional drill targets and prospective structures to our program in this already very strategically located project.’

Table 1. Assay results for selected samples from the Crown porphyry stockwork

Sample	Location	Easting	Northing	Width m	Au g/t	Ag g/t	Cu %	Pb %	Zn %
544559	Crown porphyry	492681	3687905	0.5 m	0.02	18.91	0.02	0.07	0.04
544561	Crown porphyry	492673	3687904	2 m	0.02	177	0.07	0.37	0.02
544563	Crown porphyry	492613	3687848	0.5m	0.03	176	–	0.09	0.01
544591*	Crown porphyry	492799	3687851	1.0	5.19	46.44	0.05	0.21	0.06
544592*	Crown porphyry	492793	3687823	1.0	4.06	13.97	0.02	0.10	0.07

*Assays previously released in News Release of December 3, 2025.

Click Image To View Full Size

Figure 2. Precious metal and copper assays from the Crown porphyry
and the Black Diamond replacement body at the Silver King Project.

IP Survey

The Company also completed a pole-dipole IP survey over a part of the Silver King project in December 2025. This survey was designed to provide some additional 3-dimensional data for areas identified during the initial gradient array survey (see News Release dated December 3, 2025). This new survey confirmed the presence of important chargeability and resistivity anomalies at the Silver King project. The Silver King silver mine appears to be associated with a large low resistivity anomaly located on the contact of the Silver King diorite porphyry (Fig 3). There is also low resistivity anomalies associated with the Crown porphyry and near the replacement mineralization at Black Diamond (Fig 3). The highest chargeability anomalies appear to be associated with the altered country rocks along intrusive contacts, but a chargeability high is also associated with the Crown porphyry stockwork intrusion. The anomaly associated with the Crown porphyry is particularly interesting and can be traced from shallow levels to about 300 meters in depth.

Click Image To View Full Size

Figure 3. IP resistivity map at a depth of 75 meters, overlain on geology and showing the Silver King glory hole (black line), Black Diamond replacement body in red, and the Crown porphyry-stockwork in magenta.

Click Image To View Full Size

Figure 4. IP chargeability at a depth of 75 meters, overlain on geology and showing the Silver King glory hole (black line), Black Diamond replacement body in red, and the Crown porphyry-stockwork in magenta.

Drilling Update

Alain Lambert, CEO of Prismo commented: ‘The results announced today confirm the vast exploration potential at Silver King. While we look forward to drilling these new targets in the future, our plans remain unchanged. Our immediate priority is to undertake our fully funded drill program, as previously announced. This drill campaign will primarily focus on the historic Silver King mine site and will be about 2,000 meters. The objective is to test the upper half of the steeply dipping pipelike Silver King mineralized body as well as potential mineralization adjacent to the dense stockwork that was the focus of historic mining.’

Mr. Lambert added: ‘We are pleased with the steady progress on the permitting front. The collaboration of Forest Service officials demonstrates a clear commitment to supporting mining activities in Arizona.’

Prismo recently announced that the Forest Service, the federal surface land management entity for Silver King, had determined that the Company’s proposed drill plan meets the regulatory requirements for processing, and that such plan is complete, as described in the regulations at 36 CFR 228.4(c).

The Forest Service is currently proceeding with the environmental analysis pursuant to 36 CFR 228(a)(5) in conformity with the National Environmental Policy Act (NEPA). This analysis is proceeding as a Categorical Exclusion, the lowest level of environment reviews applicable to projects that are not expected to have a significant effect on the environment, such as Silver King.

QA/QC

Samples were analyzed by SGS, an internationally recognized analytical lab, with preparation at the Tempe, Arizona facility and analyses at the Burnaby laboratory. Prismo inserts controls samples consisting of a standard pulps and a coarse blanks in the sample stream, and the lab also inserts control samples.

Qualified Person

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico.

Please follow @PrismoMetals on Twitter, Facebook, LinkedIn, Instagram, and YouTube

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6 Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward-looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Silver King; and the intended use of any proceeds raised under recent financings.

These forward-looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: the potential inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.com) under the Company’s issuer profile.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will use the proceeds of the Second Tranche as currently anticipated and on the timeline currently expected.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward- looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward- looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

In Latest News

James Comer to accuse Tim Walz of being ‘asleep at the wheel’ at fraud hearing

January 7, 2026 No Comments

House Oversight Committee Chairman James Comer, R-Ky., will accuse top Minnesota government officials of being ‘asleep at the wheel’ at the start of his panel’s high-profile hearing into alleged fraud.

In Comer’s opening statement, obtained by Fox News Digital, he is expected to question whether ‘Governor Tim Walz, Attorney General Keith Ellison, and Minnesota’s Democratic leadership’ were negligent or ‘complicit’ in the growing scandal.

‘Minnesota’s social services — which are funded by you, the American taxpayer — are being ripped off. The most vulnerable are suffering as a result,’ Comer will say, according to his prepared remarks.

‘The fraudsters — many of whom are from Minnesota’s Somali community — have stolen from programs meant to feed needy kids, provide services to autistic children, house low-income and disabled Americans, and provide healthcare to vulnerable Medicaid recipients.’

Federal prosecutors in Minnesota have charged multiple people with stealing more than $240 million from the Federal Child Nutrition Program through the Minnesota-based nonprofit Feeding Our Future.

However, the probe has since widened to multiple state-run programs being investigated for potential fraud. Childcare providers receiving state funding, mainly within the Somali community, are also under scrutiny.

U.S. attorneys have alleged that billions more dollars could have fallen prey to fraud in the state, something Walz has pushed back on while accusing Republicans of politicizing the scandal.

‘Fraudsters like these take millions to enrich themselves while providing nothing, overstating, or outright faking the services. How many children have gone hungry because fraudsters stole money that was intended to provide them with food?’ Comer will say.

‘How many autistic children were denied services because fraudsters instead sent this money overseas? How many low-income seniors, people with disabilities, or those with mental illnesses were denied access to housing because fraudsters drained resources and pocketed the money for themselves?’

Comer will argue in his statement that the revelations so far are ‘just the tip of the iceberg.’

The Wednesday hearing, which kicks off at 10 a.m. ET, will feature testimony from three Republicans in the state legislature.

Comer summoned Walz and Ellison for a follow-up hearing on Feb. 10, but it’s not yet clear if they will attend.

House Majority Whip Tom Emmer, R-Minn., will also take part in Wednesday’s hearing, Fox News Digital was told. Emmer is a longtime critic of Walz’s administration and represents a district that’s home to two out of three of the hearing’s GOP witnesses.

This post appeared first on FOX NEWS

In Latest News

UK, France strike new Ukraine security pact as US takes lead in ceasefire enforcement

January 7, 2026 No Comments

The U.K. and France signed a declaration Tuesday pledging troops for Ukraine under a future peace deal and with security guarantees supported by the U.S. and allied partners.

The declaration was adopted in Paris by the Coalition of the Willing and sets out what leaders said was a framework for lasting peace between Ukraine and Russia, set in international law and the principles of the United Nations Charter.

Russia’s full-scale invasion of Ukraine in 2022, triggered Europe’s largest conflict since World War II.

The new agreement says that Ukraine’s sovereignty and its ability to defend itself are non-negotiable elements of any peace deal and warned that its self-defense is essential to its own security and wider Euro-Atlantic stability.

Under the plan, a multinational force for Ukraine would be deployed once a ceasefire is in place, aimed at deterring any Russian aggression and supporting the rebuilding of Ukraine’s military.

The force would be European-led with proposed support from the U.S.

The declaration also commits the Coalition to security guarantees that would be activated once a ceasefire begins.

These include commitments to support Ukraine militarily, diplomatically and economically in the event of a future armed attack by Russia.

A key U.S. role is outlined in plans for a continuous, U.S.-led ceasefire monitoring and verification mechanism, with contributions from partners.

The U.S. would participate in a special commission to manage ceasefire breaches, attribute responsibility and determine solutions.

Coalition members also agreed to carry on with long-term military support for Ukraine and pledged defense cooperation, including training, defense production and intelligence sharing.

Leaders also announced the creation of a permanent U.S.-Ukraine-Coalition coordination cell based at the Coalition’s headquarters in Paris.

The declaration was unveiled at a joint news conference by French President Emmanuel Macron, Ukrainian President Volodymyr Zelenskyy and U.K. Prime Minister Keir Starmer.

This followed talks in Paris which were attended by Jared Kushner and the U.S. special envoy, Steve Witkoff.

This post appeared first on FOX NEWS

In Investing

Top 3 Small-cap Medical Device Stocks (Updated January 2026)

January 7, 2026 No Comments

The growing prevalence of chronic diseases like cancer and diabetes is driving increasing innovation in medical device technology. In 2024 alone, 30 new devices were approved by the US Food and Drug Administration (FDA).

Wearable medical devices and the use of artificial intelligence in medical technology are two key trends in this sector.

Investors who want exposure to this wave of growth may want to consider NASDAQ small-cap medical device stocks. Below is a list of the top NASDAQ medical device companies based on year-on-year gains.

All data was compiled on December 31, 2025, using TradingView’s stock screener, and the medical device makers listed below had market caps between US$50 million and US$500 million at that time.

1. MDxHealth (NASDAQ:MDXH)

Year-on-year gain: 50.86 percent
Market cap: US$173.24 million
Share price: US$3.50

MDxHealth is a commercial-stage precision diagnostics company specializing in molecular tests for urologic cancers, particularly prostate cancer, using genomic, epigenetic and exosomal technologies. Its US headquarters and operations are located in Irvine, California.

The company offers non-invasive and tissue-based diagnostic assays that run on standard PCR platforms.

In September, MDxHealth acquired Exosome Diagnostics from Bio-Techne (NASDAQ:TECH) for US$15 million, adding the ExoDx Prostate urine test to its portfolio. The deal also includes a CLIA-certified clinical laboratory and related assets. The deal is expected to generate over US$20 million in revenue in 2026.

2. KORU Medical Systems (NASDAQ:KRMD)

Year-on-year gain: 50.13 percent
Market cap: US$269.6 million
Share price: US$5.82

KORU Medical Systems develops and manufactures medical devices and supplies in the US and internationally, with a focus on mechanical infusion products. Its Freedom Syringe Infusion System first received FDA clearance in 1994.

Based on this system, its primary products include the Freedom60 and FreedomEdge syringe infusion systems, Precision Flow Rate Tubing and High-Flo Subcutaneous Safety Needle Sets.

KORU Medical Systems submitted a 510(k) premarket notification to the FDA on December 30, 2025, seeking clearance for its FreedomEdge system to deliver Phesgo — a HER2+ breast cancer targeted biologic — subcutaneously, targeting infusion centers to cut chair time and boost efficiency.

The company stated this is part of its strategy to expand the indications of FreedomEdge to the wider oncology infusion center market.

3. Vivani Medical (NASDAQ:VANI)

Year-on-year gain: 1.71 percent
Market cap: US$86.81 million
Share price: US$1.19

Vivani Medical is a clinical-stage biopharmaceutical company developing miniature, long-term subdermal drug implants using its proprietary NanoPortal technology to treat chronic conditions like obesity and type 2 diabetes.

Headquartered in Alameda, California, Vivani focuses on GLP-1 implants that provide steady drug release over six months to improve adherence and tolerability compared to daily pills or weekly injections.

In August, Vivani Medical reported positive Phase 1 results from its LIBERATE-1 trial of the NPM-115 exenatide implant, confirming safety and steady drug release for obesity treatment without major side effects.

The company plans to rapidly advance its NPM-139 semaglutide implant after it achieved preclinical results of sustained 20 percent weight loss. It is planning a Phase 1 clinical study in the first half of 2026.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

In Investing

Cannabis Market 2025 Year-End Review

January 7, 2026 No Comments

2025 marked a turning point for investment in the cannabis sector, shifting the focus toward operational resilience and consolidation after a sluggish 2024.

Key market drivers included an upswing in merger and acquisition (M&A) activity as stronger multi-state operators (MSOs) acquired distressed assets, alongside pivotal regulatory developments.

The central theme for the year was the expected US federal shift to Schedule III, a policy rollercoaster that culminated in an executive order to expedite rescheduling, focusing investor flows into scaled, cashflow-positive MSOs.

Internationally, incremental legalization in Europe, particularly the momentum in Germany, broadened the global footprint and provided new export channels for North American producers.

Within market trends, profitability pivoted away from bulk flower to high-margin consumables, with infused pre-rolls and edibles driving category growth and supporting a rerating of resilient operators.

US cannabis rescheduling a core shift

After 2024’s punishing drawdowns, cannabis navigated a high-stakes policy rollercoaster in 2025.

The sector bottomed in Q1 as anticipated US Drug Enforcement Administration (DEA) rescheduling hearings were delayed, but ignited in late Q3 and Q4 as the narrative shifted toward a decisive executive-led reclassification.

This momentum culminated in US President Donald Trump’s December 18 executive order, which expedites rescheduling and CBD access. It triggered a parabolic surge followed by a violent ‘sell the news’ correction.

“Cannabis is not just a volatile sector or industry. It is the most volatile place,” said Dan Ahrens, managing director and portfolio manager of the AdvisorShares Pure US Cannabis ETF (ARCA:MSOS). “It just proves the point, once again, that we really, really need this federal reform to be officially completed.”

Indeed, 2025 brought plenty of ups and downs. The year opened with Schedule III buzz, which came after prior Department of Health and Human Services recommendations and initial DEA scheduling proposals from late 2024; however, proceedings ground to a halt after the DEA postponed a key January hearing by over 180 days due to administrative turnover, bias claims and leadership gaps post-election. These disruptiosn kept Section 280E tax penalties in place and banking access frozen, keeping margins for MSOs compressed.

Meanwhile, House spending bills included language prohibiting the Department of Justice (DoJ) from spending any funds on rescheduling efforts, while Senate Farm Bill revisions redefined hemp to exclude intoxicating derivatives like delta-8 THC, capping them at trace levels and effectively imposing a nationwide hemp ban on high-potency alternatives.

The MSOS ETF’s portfolio construction exemplified the broader trend of investor flows concentrating into scaled, cash-flow-positive MSOs amid reform volatility. The fund’s top three holdings — Curaleaf Holdings (CSE:CURA,OTCQX:CURLF), Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF) and Green Thumb Industries (CSE:GTII,OTCQX:GTBIF) — accounted for over 68 percent of its total holdings as of December 31, underscoring confidence in these operators as resilient proxies for US cannabis maturation while smaller single-state players face dilution.

MSOS managers reinforced the shift in the year’s third quarter by trimming three underperformers from the ETF: 4Front Ventures (CSE:FFNT), Lowell Farms (CSE:LOWL) and Gold Flora.

Despite stalls in momentum, Trump kept hope alive in the cannabis sector throughout the year.

In September, he called cannabis reform an “80-20 issue” with broad public backing, and posted a Truth Social video promoting CBD for seniors and suggesting Medicaid coverage.

Those moves, alongside Representative Greg Steube’s (R-FL) Marijuana 1-to-3 Act, aimed at legislatively shifting cannabis to Schedule III, drove a surge in Q3 without any underlying procedural progress.

As mentioned, the December 18 executive order injected fresh life into the sector, directing the DoJ and DEA to expedite cannabis rescheduling to Schedule III, while launching a CMS Innovation Center pilot for federal health programs to cover hemp-derived CBD as early as April 2026, with up to US$500 annual reimbursement for eligible patients.

CMS Administrator Mehmet Oz previously endorsed Medicare reimbursement for CBD therapies during his confirmation hearings, framing them as “low-risk, high-impact” options for age-related ailments.

European cannabis legalization and international growth

2025 brought incremental legalization or medical frameworks in multiple jurisdictions, including Czechia, Malta, Poland, Switzerland and Luxembourg, broadening the investable global footprint.

This continental momentum has directly boosted North American producers through export ramps and licensing deals, with Canadian licensed producers capturing 43 percent of Germany’s Q2 imports alone.

The country’s CanG framework and adult‑use reform, which came into effect in April 2024, have made it Europe’s most important legal market, with 2025 medical sales expected to see explosive year-on-year growth.

Cannabis company trends in 2025

In 2025, cannabis companies pivoted toward operational resilience and product innovation amid persistent commoditization pressures. After 2024’s wholesale flower price declines, down roughly 32 percent since 2021 by some estimates, stronger MSOs like Tilray Brands (TSX:TLRY,NASDAQ:TLRY) are demonstrating pricing power through branded products and category expansion into edibles, vapes and infused pre-rolls.

Deal flow rebounded from 2024’s US$1.17 billion trough, with US transactions reaching US$2.1 billion.

Against that backdrop, cash-rich MSOs pursued distressed roll-ups in oversupplied states like California and New York, with Vireo Growth’s (CSE:VREO,OTCQX:VREOF) acquisitions in Minnesota and New York exemplifying the trend, achieving critical mass with premium valuations amid hemp restrictions.

Private equity and creative deal structures dominated in the cannabis market, preparing operators for federal reform, while consolidating fragmented retail.

Investor takeaway

2025 marked a transformative year for cannabis, with regulatory breakthroughs and market maturation set against the backdrop of volatility. Trump’s execuctive order has brought new life into the sector in the US with the promise of not only banking and tax relief, but also bipartisan momentum for normalization; however, investors remain cautious.

“Everybody is waiting for it to be real and for it to be completed. Because even though we think the executive order was huge … nothing’s complete yet. Nothing’s official yet,” explained Ahrens.

Looking to 2026, he emphasized that the path forward for cannabis isn’t a straight line, but rather a series of volatile ‘waves’ tied to incremental regulatory milestones. Ahrens anticipates that while the finalization of Schedule III should trigger an initial move, it is merely the first domino; subsequent upside depends on the DoJ providing clear guidance for state-legal adult-use programs and the eventual passage of banking reform.

While he does foresee cannabis stocks uplisting to major exchanges, and Big Pharma companies beginning to make acquisitions in the space, Ahrens remains cautious about timing, noting that even with a signed order, large institutional banks will likely keep the ‘blockade’ in place until the legal ink is truly dry.

Ultimately, while 2025’s executive action has established a concrete foundation for federal reform in the US, the cannabis sector remains poised in a state of high-stakes volatility, with its full maturation dependent on official completion of milestones in 2026 and beyond.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

In Investing

Cannabis Market 2025 Year-End Review

January 7, 2026 No Comments