The U.S. Drug Enforcement Administration (DEA) announced a delay on Monday in its final ruling on cannabis rescheduling until after the November presidential election. The decision, which has created uncertainty in the market, pitsVice President Kamala Harris, a cannabis reform advocate, against former PresidentDonald Trump, whose vice-presidential pick is opposed to legalization.

Market Responds With Sharp Declines

According to Benzinga Pro, the market's response was immediate and pronounced. TheAdvisorShares Pure US Cannabis ETF(NYSE:MSOS)dropped over 10% in early trading, while individual cannabis stocks experienced significant declines.

Amid the market downturn some of the...