Background The scheduling of controlled substances in the United States is managed by the Drug Enforcement Administration (DEA). Currently, marijuana, MDMA, and psilocybin are all Schedule I substances, meaning they are considered to have no accepted medical use and a high potential for abuse. However, there are ongoing developments regarding their potential rescheduling.

Resolution Criteria This market resolves YES if at least two of marijuana, MDMA, and psilocybin are rescheduled to a less restrictive schedule (Schedule II-V) by the DEA before January 1, 2026. The market resolves NO if fewer than two substances are rescheduled.

For MDMA and psilocybin, rescheduling of specific FDA-approved formulations counts as rescheduling of the substance. State-level changes or DEA temporary authorizations do not count as rescheduling. The substances must be formally moved to a different schedule in the Controlled Substances Act.