Trump Considers Cannabis Rescheduling: What It Means for Dispensaries
In August 2025, news broke that former President Trump was weighing a move to reschedule cannabis from Schedule I to Schedule III under the Controlled Substances Act. The move wouldn’t make cannabis federally legal, but it would mark a huge shift in how the plant is treated at the federal level—and more importantly, how dispensaries operate on the ground.
Right now, cannabis is grouped alongside heroin and LSD (drugs considered to have no medical benefit and a high potential for abuse). Moving it to Schedule III, where drugs like ketamine and anabolic steroids sit, would mean cannabis is officially recognized as having medical use.
For dispensaries, this shift signals a watershed moment—one that could transform both day-to-day operations and the industry’s financial future.
How Cannabis Rescheduling Impacts Dispensary Taxes and Profitability
The most immediate impact of rescheduling would be relief from Section 280E of the tax code, which currently blocks cannabis businesses from deducting most ordinary operating expenses. Because of 280E, dispensaries can’t write off things like rent, payroll, or marketing—leaving them with effective tax rates that sometimes climb above 70 percent.
Jack Blaeser, founder of Mosaic, who, having worked directly with cannabis retailers, knows how critical this is. “280E has been one of the toughest financial burdens on dispensaries. If it’s lifted, operators can finally reinvest in their people, their technology, and their communities instead of just sending it all to the IRS,” he says.
That kind of shift would be transformative. Small independent dispensaries struggling on razor-thin margins would suddenly have room to breathe. Profitable stores would see more cash flow available for expansion.
And for the industry at large, rescheduling could draw in investors who have been waiting on the sidelines, as experts have shared. For many investors, it can be especially appealing to partner with formidable operations that managed to stay resilient during these difficult years and proved their ability to navigate complex headwinds.
“Institutional investors have been skittish,” Blaeser adds. “Rescheduling won’t flip a switch overnight, but it certainly changes the narrative. It shows the government is acknowledging cannabis as legitimate. That’s when bigger money starts paying attention and looking for the right players.”
Will Cannabis Rescheduling Improve Banking Access for Dispensaries?
Another major pressure point for the cannabis industry has been banking. While some cannabis-friendly banks and credit unions exist, most traditional institutions steer clear. The result is a heavily cash-based industry, which creates risks for theft, compliance headaches, and higher costs for dispensaries. The SAFE Banking Act and its successor, the SAFER Banking Act, have been introduced in Congress multiple times in recent years and offered hope for relief. Yet despite bipartisan support it has stalled with operators left waiting for meaningful reform.
Rescheduling to Schedule III could reduce some of that risk perception from financial institutions. Large banks, insurers, and lenders may see the change as a green light—or, at least a yellow light—to begin exploring partnerships with cannabis businesses.
But Blaeser cautions against over-optimism. “Banks move slowly,” he says. “Even if cannabis is Schedule III, they’ll want to see how regulators interpret it. Dispensaries shouldn’t assume Chase or Bank of America will suddenly be calling. In the short term, you’re still going to lean on the cannabis-friendly financial services that have been here from the start.”
For dispensaries, that means being prepared for a potentially more gradual shift. Better access to capital may come, but it likely won’t arrive all at once.
What Cannabis Rescheduling Means for Dispensary Customers and Market Growth
Rescheduling wouldn’t just matter to accountants and investors. Customers will feel it too. The simple act of the federal government recognizing cannabis as a medicine changes the conversation. It lowers stigma, opens doors for more research, and gives hesitant consumers a reason to take a second look at dispensaries.
This is particularly important for two groups, Blaeser says:
- Illicit market buyers, who avoid dispensaries because they think the unregulated market is cheaper or more convenient.
- The canna-curious, people who have never shopped but are interested if they can be educated and reassured.
“There’s a whole segment of buyers who don’t trust dispensaries yet or think the illegal market is easier. Rescheduling can change that perception, but only if stores do the work of educating and welcoming them,” Blaeser explains.
That means creating an in-store and online experience that’s approachable, clear, and educational. If rescheduling sparks curiosity, dispensaries need to be ready to capture it with the right service, products, operations, and technology.
How Dispensary Data and AI Can Drive Loyalty in a Rescheduled Cannabis Market
In Blaeser’s view, the dispensaries best positioned to take advantage of rescheduling are the ones that have already invested in their digital presence with tools such as Mosaic. Mosaic is a platform that helps stores consolidate e-commerce, loyalty programs, payments, and CRM into one seamless system.
“If rescheduling happens, competition is going to heat up fast. You’re not just competing with the shop down the street anymore—you’re competing with well-funded operators who know how to run retail at scale. The dispensaries that win will be the ones with digital infrastructure already in place,” he said.
That infrastructure matters for efficiency but also for customer loyalty. Personalized menus, targeted promotions, and well-designed rewards programs all create the kind of stickiness that will matter more than ever when consumers have more choices.
How Dispensary Data and AI Can Drive Loyalty in a Rescheduled Cannabis Market
Dispensaries already collect data like purchase histories, loyalty activity, marketing engagement, etc. But few are using that information strategically. Rescheduling may give operators the financial room to start doing so.
“Your data tells you what products people are buying, how often they’re visiting, what’s bringing them back. That information is gold—especially if you know how to act on it. AI is already helping us personalize offers in real time. Rescheduling gives dispensaries the financial flexibility to actually invest in those tools,” Blaeser says.
Dispensaries that know their customers best will be the ones that thrive when competition intensifies, he adds.
Rescheduling Cannabis to Schedule III: Investment, M&A, and Product Innovation
Beyond taxes, banking, and customers, rescheduling could also unlock new avenues of product development. With cannabis at Schedule III, researchers may have more freedom to study its medical applications. That could lead to FDA-approved treatments and new product categories entering dispensaries.
For forward-thinking operators, this is an opportunity to get ahead. Partnering with medical professionals, offering research-backed education, and stocking innovative products can all set a dispensary apart.
Meanwhile, M&A activity is likely to accelerate. “Stronger margins make dispensaries more attractive acquisition targets,” Blaeser says. Larger multi-state operators may look to scoop up independents with strong brand loyalty and community presence. For some owners, that may create an exit opportunity. For others, it will be a push to double down on growth.
Steps Dispensaries Should Take Now to Prepare for Cannabis Rescheduling
Rescheduling is not guaranteed, but the momentum is real. Dispensaries that wait to act risk falling behind. According to Blaeser, here are some priorities to consider now:
- Talk to your CPA about 280E relief. Model what your finances would look like if deductions are restored. Plan how you’d reinvest those savings.
- Upgrade your digital infrastructure. Make sure your e-commerce, loyalty, and customer communication systems are streamlined. Mosaic can help.
- Invest in customer education. Create resources for new shoppers and former illicit buyers who may now be more open to trying legal products.
- Build a data strategy. Start capturing and analyzing customer insights now, so you can act on them later.
- Stay nimble. Regulations are still evolving. Flexibility will be one of the most valuable assets a dispensary can have.
Cannabis Rescheduling to Schedule III: What Dispensaries Should Expect Next
We don’t know if rescheduling will happen. It’s been promised before without ever materializing. If it does happen, rescheduling won’t solve every problem the cannabis industry faces. But for dispensaries it could be the break they’ve been waiting for. Lower taxes, more legitimacy, better access to customers, and eventually improved banking and investment options—it all adds up to a brighter outlook.
Blaeser sums it up: “If rescheduling happens, dispensaries will get the oxygen they need to grow. The ones who prepare now with the right systems, the right messaging, and the right customer focus—are the ones who’ll thrive when the door really opens.”
