Analysts React: Trump Signs Executive Order to Reschedule Cannabis
The long-debated issue of US cannabis rescheduling is finally back in the spotlight.
On Thursday (December 18), President Donald Trump signed an executive order to expedite the process of moving cannabis from Schedule I to Schedule III under the Controlled Substances Act. Market watchers are now assessing what such a shift could mean for the industry, from taxation and access to broader investment potential.
To gauge sentiment across the sector, the Investing News Network collected insights from analysts, policy experts and market researchers on what rescheduling might realistically mean for cannabis companies and investors.
What do industry experts think about cannabis rescheduling?
Sasha Nutgent, vice president of cannabis retail, Housing Works Cannabis
As it stands today with the current classification, retailers are not incentivized to operate legally. Reclassification would change that for thousands of businesses, especially those owned by folks from communities most impacted by the war on drugs.
Anthony Coniglio, CEO of NewLake Capital Partners (OTCQX:NLCP)
We welcome President Trump’s directive to the Department of Justice to finalize the rescheduling of cannabis from Schedule I to Schedule III. This represents a historic and long-overdue alignment of federal policy with scientific evidence, medical practice and the regulatory reality already functioning across most US states.
Now, follow through is critical. We urge the DOJ and DEA to move swiftly to issue the Final Rule and complete the rescheduling process. Doing so would finally remove the punitive burden of Section 280E, allowing compliant, state-licensed operators to reinvest in growth, innovation and workforce development across the nearly half-million Americans employed in this industry. This is not about legalization — it’s about legitimacy. Responsible operators have long followed strict state-level compliance frameworks that prioritize safety, transparency and consumer protection. Rescheduling would rightfully distinguish these businesses from illicit markets and allow federal enforcement to focus where it truly belongs: on criminal cartels, not compliant small businesses. This announcement is a milestone, not a finish line. Congress must build on this momentum by passing the bipartisan SAFER Banking Act and advancing STATES 2.0 to create a durable national framework that strengthens safety, access and accountability for all stakeholders.
Harrison Bard, CEO and co-founder, Custom Cones USA and DaySavers
Rescheduling will further stack the odds against small operators, but this type of change is a long-overdue step toward treating cannabis like the legitimate medicine so many veterans already rely on. For years they’ve been forced to navigate stigma, inconsistent access and out-of-pocket costs just to manage pain, PTSD and other service-related conditions. A more rational federal framework won’t solve…
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