Today on Trade to Black, we’re thrilled to welcome Kim Rivers, CEO of Trulieve. Rivers has served as chair of the board of directors and CEO since 2015, and also as second vice chair of the National Cannabis Roundtable and Benzinga Cannabis Advisory Board. This is the first time we’ve had the opportunity to have her on the podcast as a guest, and she shares with us her perspective on the latest developments from the industry.
The biggest piece of news in cannabis in the last two weeks – the recommendation from the HHS that the DEA reschedule cannabis from Schedule I to III – has had investors and speculators stirred. Rivers discusses this long-awaited and ‘refreshing’ development with us, giving us her thoughts on the impact the announcement made. This recommendation has breathed new life into the industry, making it one of the biggest single catalysts for growth we’ve seen in a while.
The biggest outcome from rescheduling cannabis would be that cannabis companies are no longer subject to the tax code 280e, which would make many struggling companies more profitable. Without that tax pressure, the cannabis market will be able to truly thrive and evolve.
These sorts of developments also go a long way towards helping advance conversations on adult recreational use of cannabis in states that have not yet legalized or still restrict cannabis to medicinal use. Florida is one such state with a potential market that could be a big win for any company able to get a significant foothold.
Rivers eagerly anticipates swift action on cannabis legislation federally, as it will come to a head before the upcoming election. This finding by a top government agency also sets the stage for progress in Congress where more reform will take place that will result in a domino effect. Tune in for more insights from this podcast episode with Trulieve CEO Kim Rivers.