Is Trump Finally About To Reschedule Cannabis This Time?
New reporting from The Washington Post says President Donald Trump is considering an executive order that would reschedule cannabis from Schedule I to Schedule III. Nothing has been signed. Nothing is final. But the fact that this conversation is happening — quietly, at the White House — is enough to get the industry’s attention again. Brady Cobb and Michael Bronstein are back in the mix, bringing policy context and real-world perspective. They’re joined by Hirsch Jain of Ananda Strategy and Adam Terry of CanTrip, rounding out a deep bench for a conversation that cuts across politics, capital, and execution.
Hosts Shadd Dales and Anthony Varrell discuss CNBC reports that an announcement could come as early as Monday and noting strong positive market reactions across the sector. A move from Trump to reschedule cannabis to Schedule III wouldn’t legalize cannabis, but it would change the tone fast. 280E tax pressure eases. Banking conversations open up. Institutional eyes come back to the sector.
For operators and investors, that’s not noise — that’s a potential reset. Shadd Dales and Anthony Varrell break down what’s actually been reported, what’s speculation, and why this moment feels different from the usual rescheduling chatter that pops up and disappears. This isn’t about celebrating early or calling winners. It’s about reading the signals, understanding the timing, and figuring out what matters — and what doesn’t — if rescheduling really is back in focus.
The discussion then shifted to the hemp and beverage sectors. Adam Terry of CanTrip warned that pending federal hemp restrictions could severely disrupt supply chains, noting that missed planting cycles could lead to long-term shortages and farm closures. While reform is necessary, an overcorrection risks eliminating access to cannabinoid products for millions of consumers in non-legal states.
Policy strategist Hirsch Jain added that Minnesota’s hemp beverage model demonstrated strong consumer demand and effective collaboration between alcohol and cannabis industries. He argued that rescheduling presents an opportunity to reset national cannabinoid policy responsibly, but warned that public health missteps could provoke backlash and slow progress.
While timing remains uncertain, guests broadly agreed that rescheduling appears inevitable and would mark the most significant shift in federal cannabis policy since the Controlled Substances Act, setting the stage for global ripple effects and long-term industry maturation. Dive in for the full conversation.
