Rescheduling Update: GOP Voices Join the Chorus
Positive Momentum for Cannabis Rescheduling
Over the past several weeks, cannabis reform has gained significant political and cultural traction, with a particular focus on federal rescheduling. In a pivotal moment, President Donald Trump told House lawmakers that marijuana rescheduling “will happen soon,” signaling strong political backing from the GOP leader. His comments were echoed by advisor Alex Bruesewitz (~600k twitter followers), who publicly reinforced the campaign’s alignment with Schedule III reform.
This unified message from key Republican figures represents a major shift, reducing stigma and increasing the likelihood of bipartisan support.
Former Congressman Matt Gaetz (3.4mn twitter followers) and right-wing influencer Gunther Eagleman (1.4mn twitter followers) added further conservative voices to the chorus, using their platforms to normalize pro-cannabis positions among traditionally skeptical audiences.
Additionally, Rogan O’Handley (DC_Draino on twitter – 2.2mn followers) and Roger Stone (850k+ twitter followers) expressed their support for the immediate rescheduling of cannabis.
At the legislative level, One America News reported on a House GOP initiative to lift cannabis restrictions for federal workers, while in the Senate, Thom Tillis (R-NC) engaged in open-floor discussion supporting cannabis reform. These signs point to growing acceptance within the Republican establishment.
Furthermore, in Ohio, two state GOP lawmakers defended access to adult-use cannabis, signaling long-term durability for reform in Midwest battlegrounds. Meanwhile, cultural icon Mike Tyson continues to amplify the legalization message on social media and national television, using his influence to reach broader, younger audiences.
Together, these developments represent a critical moment of convergence between policy, politics, and culture that could tip the scales on federal rescheduling.
If you have any questions, comments or thoughts on rescheduling, reply to this email to get in touch.
Experienced Operators and New Structures Driving Cannabis Investment Opportunities
Founding Partner of KEY, Pete Karabas wrote an article for MJBiz Daily giving an overview of where the cannabis market has been, where it is at, and where it is headed. Pete also gave a quick overview on creative structures that KEY has seen in the cannabis industry over the past 12-24 months.
The cannabis industry’s early volatility and overexpansion have given way to a new phase characterized by more disciplined, experienced operators. Lessons learned from years of operational challenges, such as inflated valuations, over-leveraging, and market saturation, have led to a sharper focus on execution, efficiency, and sustainable growth. Today’s cannabis leaders are more financially prudent, better equipped to navigate complex regulations, and increasingly focused on building real profitability rather than chasing top-line hype.
This shift has opened the door for new types of funding opportunities. Investors are showing greater interest in businesses that are tightly managed, strategically positioned, and capable of generating cash flow. As the sector matures, funding is increasingly flowing toward established operators with track records and scalable models. For capital providers, this environment offers a more stable entry point into the cannabis industry, one where risk is mitigated by operational sophistication and capital discipline.
Click here to read the full article by Pete Karabas
Multiple States Expecting Material Growth in Near-Term
Cannabis markets across the United States continue to demonstrate strong signs of growth through rising sales, legislative momentum, and proactive regulatory planning. From mature programs to newly legal markets, several states are laying the groundwork for sustained expansion.
In Arkansas, medical cannabis sales are on track to reach new highs in 2025. Nearly $23 million in transactions were reported during May alone, pushing year-to-date totals over $110 million. If the trend holds, Arkansas could break its prior annual record of $283 million. The consistency of patient demand and the stability of dispensary operations make this market an attractive prospect for businesses focused on medical-only jurisdictions.
Hawaii is expanding its medical program under a new state law that offers dispensaries greater operational flexibility. The legislation allows license holders to open new retail outlets and operate cultivation sites across different islands. It also instructs regulators to begin preparing a framework that could accommodate future recreational use. These changes are designed to strengthen the medical program today while preparing for broader legalization down the road.
Delaware is preparing to launch its adult-use cannabis market on August 1, 2025. The state’s rollout includes a carefully designed licensing process, with a focus on equity, safety, and structured business entry. This transition from medical to recreational access is expected to activate a new wave of retail activity and generate strong consumer participation. Delaware’s entry into the adult-use market adds to the growing list of East Coast states embracing full legalization.
North Carolina, while not yet a legal cannabis state, is positioning itself for eventualreform through early planning. Governor Josh Stein recently established a 24-member Cannabis Advisory Council to study potential policy frameworks for regulation. The council includes professionals from health, law enforcement, legal, and economic sectors and is expected to deliver its findings by the end of 2026. This initiative marks a meaningful step toward long-term legalization in a large southeastern state that has so far remained on the sidelines.
Colorado, a well-established legal cannabis market, is projected to more than double in size by 2030. Market researchers estimate that sales will rise from $2.61 billion in 2024 to $5.39 billion by the end of the decade. The expected growth is attributed to increased interest in branded products, organic cultivation, and social-use venues. Colorado’s regulatory consistency and consumer trust continue to make it a blueprint for long-term industry success.
New data from New Cannabis Ventures shows that sales are also rising on a national level. In June 2025, cannabis sales increased in several key adult-use markets, including Illinois, Massachusetts, Michigan, and Missouri. Illinois alone reached a record $145 million in monthly adult-use revenue. Meanwhile, Maryland’s recently launched recreational market continues to grow rapidly. These strong June sales numbers point to robust seasonal demand and reinforce broader consumer confidence in legal retail channels.
Together, these developments highlight the ongoing evolution and expansion of the U.S. cannabis landscape. Whether through new laws, strong sales, or long-term planning, multiple states are contributing to a nationwide trend of increased market activity and investor opportunity.
President Trump Signs HALT Fentanyl Act into Law
On July 16, 2025, President Trump signed the HALT Fentanyl Act into law, making the temporary classification of fentanyl-related substances under Schedule I of the Controlled Substances Act permanent. The legislation also introduces a streamlined registration pathway designed to support specific research involving Schedule I substances.
Additionally, the law affirms Congress’s alignment with the legal reasoning in United States v. McCray (2018), a decision from the U.S. District Court for the Western District of New York. That ruling held that butyryl fentanyl, despite being a controlled substance, could be treated as a fentanyl analogue, even though the Controlled Substances Act generally excludes already controlled substances from the analogue definition.
Cannabis Market Poised for Explosive Growth in U.S. and Globally
The legal cannabis industry is entering a high-growth phase both in the United States and in international markets. In the U.S., the market is projected to increase from $31.4 billion in 2024 to $45.3 billion in 2025, representing a 44% year-over-year gain. Growth is being driven by adult-use legalization in emerging states such as Missouri, Maryland, and Illinois, along with rising adoption of digital retail platforms, including mobile ordering, customer loyalty tools, and advanced inventory management systems. With over 425,000 full-time jobs now linked to the cannabis sector, the industry has become a major contributor to employment and tax revenue at the state level.
Globally, the legal cannabis market is expected to expand from $33.8 billion in 2024 to $110.1 billion by 2030. This growth is fueled by increasing access to medical cannabis in Europe, regulatory modernization in Latin America, and a rising wave of normalization in parts of the Asia-Pacific region. Demand is shifting beyond traditional flower to include wellness-oriented products, edibles, and infused consumer goods. Meanwhile, supporting industries such as compliance software, logistics infrastructure, and contract manufacturing are gaining traction as international operators seek scalable business solutions. For investors, the combination of U.S. and global momentum paints a compelling picture for long-term opportunity in what is fast becoming one of the most dynamic consumer sectors worldwide.
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