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Happy Friday Pre Rollers! Welcome to another edition of The Pre Roll, the cannabis newsletter that keeps you up-to-date on the industry happenings you need to know.
Here’s what we’re rolling up this week:
DEA opens dispensary registration portal
Farm Bill advances in House
Safe Harbor unveils 401(k) plan
…and more. Let’s get to it.
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🚨 ROLL CALL
Policy
Source: Beard Bros
Rescheduling registration. The Drug Enforcement Administration (DEA) has launched a new medical dispensary registration portal that allows state-licensed medical cannabis businesses to formally register with the federal government following recent rescheduling of certain cannabis products to Schedule III.
The system, which went live this week, requires applicants to pay a non-refundable $794 fee and submit detailed compliance, licensing, and security information as part of an expedited pathway designed to bring medical cannabis operators into a federal regulatory framework while maintaining strict controls.
At least one major multi-state operator, Trulieve, has already filed its application with the DEA.
Policy
Source: KCUR 89.3
Hemp hurdles. The U.S. House of Representatives has passed a broad agriculture bill that includes provisions supporting industrial hemp farming but does not include a delay or repeal of a scheduled federal crackdown on intoxicating hemp-derived THC products.
That separate policy change, which is set to take effect later this year and expected to redefine legal hemp in a way that would effectively ban most consumer THC products, remains on track despite bipartisan attempts to postpone it.
Lawmakers and industry stakeholders had pushed amendments to buy more time or create a regulatory framework, but those proposals were not included in the final House version of the Farm Bill, leaving the hemp-derived THC market facing significant disruption once the new rules take effect.
Business
Source: Safe Harbor Financial
Retirement rollout. Safe Harbor Financial has introduced a new pooled employer 401(k) plan tailored specifically for state-legal cannabis businesses and their service providers, aiming to close a longstanding gap in access to compliant retirement benefits.
The Safe Harbor Retirement Plan uses collective investment trusts and a structure designed to align with regulatory requirements, addressing persistent challenges that have made traditional 401(k) providers hesitant to serve the industry.
“For years, cannabis operators have tried to offer retirement benefits to their employees while navigating uncertainty around plan stability. This solution is designed to provide a more consistent path forward. It reflects the same approach we’ve taken across banking and financial services, building infrastructure that aligns with the realities of this industry and supports the people behind it.”
By reducing the risk of plan disruptions and improving continuity for employees, the offering is positioned as a more stable, scalable solution for cannabis operators. The move further expands Safe Harbor’s broader fintech platform, which already includes banking, payroll, and HR services, as the company pushes to build end-to-end financial infrastructure for the cannabis workforce.
🇺🇸 STATE OF THE INDUSTRY
Indiana: Governor Mike Braun signaled openness to cannabis legalization as a new report highlighted significant cross-border cannabis spending and outlined policy considerations, though key details and next steps remain uncertain.
Missouri: Governor Mike Kehoe signed legislation that effectively reclassifies intoxicating hemp-derived cannabinoids under the state’s existing cannabis regulatory framework.
Nebraska: Nebraska could soon gain federal protections shielding its voter-approved medical cannabis program from Justice Department interference after previously being excluded from congressional safeguards, potentially resolving a unique gap that left the state’s industry legally vulnerable.
Texas: Hemp businesses in the state have filed a lawsuit challenging new regulations they argue would effectively ban most consumable hemp products, escalating a legal fight over the future of the hemp-derived cannabis market.
🤝 DEALS
Curaleaf takes control of German cannabis producer
The international cannabis consumer products company has completed its acquisition of the remaining stake in Germany-based Four 20 Pharma, giving it full ownership and expanding its control over European supply and distribution operations.
💨 QUICK HITTERS
A Johns Hopkins study found that most Americans support moving cannabis to a lower federal drug schedule, with even stronger backing for further reforms beyond simple rescheduling.
Hemp production value in the United States reached $739 million in 2025, marking a 64% increase from the previous year.
Regulators and local law enforcement in Rochester, New York padlocked two unlicensed smoke shops and seized more than $1.3 million in illegal cannabis products following a long-term investigation.
📚 WHAT WE’RE READING
Department of Justice Eases Control of Medical Marijuana (Congress.gov)
The U.S. leaps forward on marijuana policy (POLITICO)
Focus: Companies with cannabis-based drugs eye IPOs, private funding boost after US reclassification (Reuters)
Trump administration move to reclassify cannabis sparks confusion (Guardian)
Reclassification of marijuana opens doors for much‑needed medical research into the benefits and risks of the drug (The Conversation)
Legit vs. Shady: How to spot a legal cannabis dispensary in New Jersey (New Jersey Cannabis Regulatory Commission)
🎙️ POTCASTS
The Rescheduling Order: A Legal Deep Dive (High Spirits)
📽️ VIDEO OF THE WEEK
🔎 JOB BOARD
Ascend Wellness Holdings
$95,000—$110,000
Nabis
$90,000—$105,000
Metrc
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Stay tuned for more cannabis industry news next week!
💚,
The Pre Roll Team
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