The SAFE Act. Rescheduling. The Farm Bill. A new presidential administration. Nobody can predict the future of cannabis regulations — but we asked a few experts to try anyway.
Marijuana Venture spoke with several entrepreneurs and operators in the cannabis space to get their predictions for 2025. Part 2 of this four-part series will cover cannabis policy.
Part 2: Policy
Part 3: Hemp
Part 4: Products
Michael Teller
Chief operating officer
In 2025, rescheduling cannabis won’t be the silver bullet for the industry we all thought it would be when it was first announced. With a Republican-controlled White House, Senate and House, we’re likely to see a focus on more conservative priorities, especially in the first part of the year. This will leave things like SAFE banking on the back burner. Our outlook for 2025 shows that we will see M&A and strategic mergers happening at a great clip. In the overarching market, the reality is that established operators will come into new states, as those experienced operators have the best ability to obtain debt and equity and have the proven ability to take those deals over the finish line. In the past, emerging markets attracted new players, but many struggled to execute and reach completion. Today, lenders and investors prioritize operators with a track record of success, as these seasoned operators bring the expertise and operational strength necessary to succeed and scale. As such, consolidation is set to take center stage in 2025, with market conditions highly favorable for strategic mergers and acquisitions. This will drive greater efficiency and a stronger industry.”
Kevin Hart
Founder and CEO
I believe states will continue to drive cannabis reform and progress, maintaining their independent approach. For decades, they’ve successfully developed viable, compliant programs that facilitate cannabis commerce and enable compliant money movement, including banking.
States didn’t wait for Washington in the past, and they’re unlikely to wait for federal action moving forward. While this will likely preserve the status quo of limited interstate and international commerce, it will also allow for ongoing sales, industry growth and the continued service of their citizens.
Nohtal Partansky
Founder and CEO
If we reschedule cannabis in 2025, the industry will look completely different in 2026. Rescheduling will legitimize the industry and cause an influx of capital into the space.
David Craig
Chief marketing officer
– Rescheduling of cannabis: Following the Department of Health and Human Services’ 2023 recommendation and ongoing DEA review, it is plausible that by 2025 cannabis will have been moved from Schedule I to Schedule III or a similarly less restrictive designation. This reclassification would not fully legalize cannabis federally, but it would significantly alter taxation, banking and research parameters.
– SAFE Banking and other federal reforms: Persistent pressure from businesses, investors and legislators could push the long-stalled SAFE Banking Act through Congress. If enacted, it would allow federally regulated banks to serve cannabis businesses without fear of federal penalty. By 2025, the U.S. cannabis sector may finally have more streamlined access to financial services, reducing cash-on-hand issues and normalizing business operations.
– Impact on research and intellectual property: Easier access to federally approved cannabis for research purposes would catalyze more clinical trials. By 2025, we may see a notable uptick in patent filings, new pharmaceutical formulations and a rise in FDA-approved cannabinoids for specific medical indications.
David Kooi
Co-founder and CEO
I doubt that federal legalization and legislation is realistic post-election. Our government hasn’t listened to the people in years (if it ever did). More than 70% of Americans support cannabis legalization, but more than a decade after that support crossed 50%, federal movement is nil. Why? Special interests, culture wars and political games. No party has the 60 votes to make change. Congress would rather block each other’s wins than do what people actually want.
Caleb Counts
Co-founder and CEO
If 2024 taught us anything, it’s not to get too comfortable — cannabis and politics are full of surprises. Sure, seeing three states fail to pass recreational cannabis was a letdown, but it just means we need to stay persistent. As for federal legalization, I’d say don’t hold your breath. There are so many priorities in D.C. that no one’s likely to use their political power on cannabis right now, so the real progress will have to happen at the state level. In 2025, I expect we’ll see small and mid-sized cannabis companies banding together to survive, especially since capital’s tight, and it’s getting harder to compete with bigger players. It’s going to be a tough year, but if you’ve been in this industry, you know the drill — bring it on.
Vince C. Ning
CEO and co-founder
Coming out of the 2024 election, the national cannabis industry needs to ground their expectations in reality — a bipartisan pathway is essential for meaningful reform, but with a new administration, it’s unclear. While we have seen momentum building for federal legalization over the past year, it’s unlikely that this will happen overnight, and we must be prepared for more political and regulatory hurdles.
Shauntel Ludwig
CEO
I’m not holding my breath for federal legalization in 2025. I expect we’ll see descheduling progress, holding steady for a few years while Big Tobacco, Big Pharma and other major players position themselves to seize the market post-legalization. In the meantime, descheduling promises something real: access to capital and tax relief for all cannabis companies, which will fuel growth across the industry.