Trump’s Cannabis Policy: What It Means for Business Owners

READING DAZE

1. Federal Rescheduling of Cannabis

One of the biggest potential shifts is moving cannabis from a Schedule I to a Schedule III substance under the Controlled Substances Act. This would recognize its medical benefits and ease some long-standing restrictions. Pros:

Cannabis businesses could finally escape the dreaded Section 280E tax code, which means being able to write off normal business expenses like any other industry. Translation: more money in the bank.
Easier access to medical research could lead to FDA-approved products and broader acceptance in the healthcare industry.

Cons:

Rescheduling isn’t the same as legalization, so cannabis would still be under federal control, limiting its impact on state-legal markets.
The big dogs—Big Pharma and corporate cannabis giants—might see this as their cue to dominate the industry.

Source: MarketWatch

2. State-Led Legalization Initiatives

Trump has taken a “let the states decide” approach, even throwing support behind Florida’s failed Amendment 3, which aimed to legalize adult-use marijuana. While federal legalization isn’t on his radar, he’s not looking to crack down on state markets either. Pros:

More states may push forward with legalization, opening up new business opportunities.
A hands-off federal stance means fewer worries about DEA raids and shutdowns in legal states.

Cons:

Without federal legalization, interstate commerce remains a no-go, keeping supply chains messy and inefficient.
Banking and financial access are still limited unless Congress steps in with a fix.

Source: OPB

3. Potential Banking and Financial Reforms

One of the biggest headaches for cannabis businesses has been banking—or rather, the lack of it. Federal restrictions force many companies to operate as cash-only businesses, which is both inconvenient and risky. Trump’s team has hinted at backing legislative efforts to fix this. Pros:

If banking laws loosen, businesses could finally access loans, credit, and safer financial services.
Less cash on hand means fewer security risks and more streamlined operations.

Cons:

So far, there’s no concrete plan—just vague support for reform.
Even if banks get on board, major credit card companies might still hesitate to process cannabis transactions.

Source: CannDelta

4. Industry Reactions and Future Implications

The cannabis industry isn’t waiting around to see what happens. Major players are forming coalitions, like the newly established U.S. Cannabis Roundtable, to push for financial and regulatory reforms under a potential Trump administration.
Source: MarketWatch

Final Verdict: What Does This Mean for Business Owners?

Good News If You’re:

A cannabis business owner looking for tax relief—rescheduling would finally let you keep more of your hard-earned cash.
Hoping for better access to banking and financial services.
In a state with upcoming legalization, meaning new market opportunities are on the horizon.

Not-So-Good News If You’re:

Expecting full federal legalization anytime soon—it’s not happening under Trump.
Worried about Big Pharma and corporate giants squeezing out smaller operators.
Relying on interstate commerce to scale your business—because that’s still off the table.

At the end of the day, Trump’s cannabis stance is better than outright prohibition but falls short of true legalization. Business owners should stay informed, advocate for industry-friendly reforms, and—most importantly—be ready to adapt. The cannabis market is changing, but the smartest players will always find a way to stay ahead of the game.