Cannabis ETFs get high on DEA reclassification news

The Biden admin is moving to weaken restrictions on cannabis, according to a report by the Associated Press.

Marijuana has been classified as a Schedule I drug (on par with heroin) since the Controlled Substances Act was first signed in 1970.

This change would make cannabis, which is recreationally legal in 24 states, a Schedule III drug (on par with anabolic steroids). The shift, which isn't finalized, would likely give a significant boost to the $35B legal cannabis industry through changes to its tax status.

Cannabis stocks and ETFs soared on the news.

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Nathan's Famous restaurant on Coney Island

Iconic hot dog brand Nathan’s Famous just sold for $450 million

Packaged meat company Smithfield Foods has agreed to acquire the historic Coney Island staple — best known for its annual hot dog eating contest — in an all-cash deal.

Millie Giles1/23/26

Tom Jones

so fried

1/23/26

KFC ranked worst out of 76 restaurant chains per new market share analysis

The chicken wars are taking their toll, new Barclays analysis suggests, as competitors close in on the chain that once ruled the roost.

Nate Becker

1/22/26

Paramount is doing everything except the one thing that could give its Warner Bros. bid a chance of success

Warner Bros. says “more than 93%” of its shareholders have rejected Paramount. That’s probably not going to change substantially unless Paramount boosts its offer.

Streamers continued retreating from original shows in 2025

The death of “peak TV” has not been exaggerated, per a new report from Luminate.

Max Knoblauch1/21/26

Retail display of Takis snack food in various spicy flavors in Target store, Queens, New York

America’s love for spicy food and mouth-tingling sauces has surged, but are we approaching “peak heat”?

Takis doesn’t think so, as it searches for a “Chief Intensity Officer.”

Claire Yubin Oh1/21/26

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