New York's Cannabis Regulatory Blunder: How It Hurts Over 100 Businesses and What to Expect

Industry Leaders Respond to Historic Cannabis Rescheduling: What’s Next?

Update A Shift in Cannabis Policy: Industry Leaders Weigh In The rescheduling of cannabis from Schedule I to Schedule III marks a historic milestone for the cannabis industry, unleashing a torrent of responses from leaders across the sector. Following President Trump’s executive order on December 18, 2025, executives, advocates, and lawmakers herald this decision as a pivotal moment that recognizes the medicinal value of cannabis and the need for reform. Historical Significance of Rescheduling Cannabis Moving cannabis to Schedule III breaks the long-standing assumptions about its potential for abuse and medical utility. Prior to this, cannabis was classified alongside the most dangerous drugs that had no approved medicinal uses. According to leaders in the field, this change validates decades of advocacy for recognizing cannabis as a legitimate medical option worth researching and prescribing. In a sense, it begins to rectify what has been viewed for decades as a flawed policy. Immediate Impacts on Access and Research With this new classification, cannabis businesses are expected to gain access to investor funds that have previously been out of reach due to high tax burdens imposed under IRS Section 280E. Many industry leaders believe this will alleviate financial constraints, potentially leading to lower prices for consumers as businesses can pass on the savings from tax relief. According to Trulieve CEO Kim Rivers, this policy shift “represents long overdue change and a major milestone in cannabis reform,” reinforcing the sentiment among stakeholders that cannabis deserves a legitimate place in medicine. Challenges and Next Steps for the Industry However, while rescheduling is a significant step, certain challenges remain. Critics note that cannabis is still restricted under federal law, and true legalization would require additional legislative action by Congress. The move does not eliminate obstacles such as banking discrimination or the ongoing black market for cannabis, which persists as long as legal prices remain out of reach for everyday consumers. What This Means for Patients and Consumers For patients relying on cannabis for pain relief and other medical issues, the rescheduling could enhance access to safe, regulated products. This aligns with comments from industry veterans who have long argued for the extensive therapeutic benefits of cannabis, turning the tide of public perception. As Curaleaf CEO Boris Jordan states, “Rescheduling opens the door to federal reform, medical research, and normalization for an industry that employs hundreds of thousands of professionals.” Broader Implications for the Future of Cannabis Looking ahead, the impact of this rescheduling could extend beyond immediate financial improvements to influencing consumer perceptions and encouraging states to increase their legalization efforts. It represents a challenge to the remaining stigma and indicates a growing acceptance of cannabis use, both recreationally and medicinally. This could trigger further industry growth and the organic evolution of cannabis policy across the globe. Yet, such a future depends on coordinated efforts across the industry, public advocacy for full legalization, and ongoing dialogue with legislators. In conclusion, while the executive order marks a celebratory moment for the cannabis sector, it also signifies the beginning of a new strategy towards comprehensive cannabis reform. As the industry braces for change, stakeholders must work together to push forward, ensuring that marginalized voices are heard and that the promise of this shift extends to all sectors of the community.