Cannabis Stocks Rally on Potential U.S. Medicare Coverage for CBD Treatments
Cannabis stocks surged as much as 4% following reports that U.S. Medicare may soon cover cannabidiol (CBD) treatments for certain patients. The Centers for Medicare & Medicaid Services is reportedly drafting a plan to reimburse seniors undergoing cancer treatment or palliative care for CBD-based therapies. Tilray (TLRY), Curaleaf Holdings (CURLF), and Cronos Group (CRON) were among the top gainers.
The industry, long battered by regulatory hurdles and sluggish demand, sees this as a potential lifeline. Howard Kessler, a payments financier advocating for cannabis access, has engaged with Health and Human Services Secretary Robert F. Kennedy Jr. on the matter. This marks the sector's second rally since September, when former President TRUMP hinted at federal reforms.
