The cannabis sector just woke up from a half-decade nap, and it took something special to make it happen: actual good news on two fronts at once.

First, the Washington Post reported that President Donald Trump wants to move marijuana into Schedule III, which would put it in the same regulatory bucket as common prescription drugs. Then Tilray Brands Inc. (TLRY) dropped news that its vape launch went so well it basically broke the company's internal projections. Cannabis stocks haven't seen momentum like this in years, and for once, there's substance behind the surge.

When a Vape Launch Actually Delivers

Tilray's premarket jump of nearly 30% wasn't just riding the policy wave. The company's Amped Live Resin Diamond Sauce vape has turned into something the cannabis industry rarely sees: a genuine hit product backed by real demand, not just marketing bluster.

Here's the striking part: this single vape SKU is generating more incremental revenue than Tilray made selling flower across an entire Canadian province. In a sector famous for overpromising and underdelivering, that's noteworthy. After a reverse split and months of trying to prove it's more than just a restructuring story, Tilray finally has something that's working. One blockbuster vape accomplished what six quarters of diversification efforts couldn't.

The Trump Factor Changes Everything

Then the political catalyst hit. Trump's reported push to reclassify marijuana into Schedule III instantly resets the game for everyone in the space. Banking becomes easier. Tax burdens lighten. Pharmaceutical distribution channels open up. These aren't small tweaks.

The market responded accordingly. Canopy Growth Corp (CGC), SNDL Inc (SNDL), AdvisorShares Pure US Cannabis ETF (MSOS) and the rest of the cannabis universe ripped higher in unison, posting gains between 15% and 30%. Canopy Growth led the Canadian names on pure regulatory momentum.

This Time Feels Different

What makes this rally interesting is that it's not built on retail fever dreams or Reddit hype. Tilray has an actual product hit on its hands. Trump just handed the industry its most significant regulatory tailwind since 2018. The stars are aligning in a way they haven't before.

For an industry that's spent years in existential limbo, watching capital flee and credibility evaporate, this is what a genuine revival looks like. Cannabis stocks aren't hallucinating this rally. They're earning it.