🌿 DEA and FDA review cannabis rescheduling risks, bipartisan lawmakers reintroduce SAFE Banking Act, and EDUCATE Act proposed for cannabis education funding

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:

…and more. Let’s get to it.

Was this email forwarded to you?

Rescheduling review. At the opening day of federal rescheduling hearings on cannabis, Drug Enforcement Administration (DEA) attorneys and Food and Drug Administration (FDA) officials emphasized testimony indicating that cannabis generally poses lower day-to-day risks than alcohol and opioids.

FDA representatives pointed to evidence showing that cannabis does not produce the same level of toxic overdose risk seen with opioids, with fatalities typically linked to indirect factors such as accidents rather than toxicity. They also noted that alcohol carries a significantly more severe withdrawal syndrome, including potentially life-threatening symptoms like seizures, while cannabis withdrawal is generally considered milder and more comparable to nicotine dependence.

DEA counsel underscored that the proceedings are focused on scientific and medical evaluation for regulatory classification rather than policy-driven legalization debates, while acknowledging that all controlled substances carry some level of risk but must be evaluated in terms of relative harm and medical benefit.

The discussion is part of the broader Trump administration push to move cannabis from Schedule I to Schedule III under the Controlled Substances Act, a shift that will have major implications for medical cannabis regulation, research access, taxation rules, and federal enforcement policy.

The hearings are ongoing, and the extent to which recreational cannabis will be addressed remains to be seen.

Banking bounceback. Bipartisan lawmakers in both chambers of Congress have reintroduced the SAFE Banking Act, renewing efforts to give state-legal cannabis businesses access to traditional banking and financial services.

Led in the Senate by Senator Jeff Merkley (D—OR) and in the House by Representative Dave Joyce (R—OH), the legislation would prohibit federal banking regulators from penalizing financial institutions that serve licensed cannabis businesses, clarify that proceeds from state-legal cannabis transactions are not considered unlawful under federal anti-money laundering laws, and protect banks from regulatory retaliation for serving the industry.

Despite cannabis recently being moved from Schedule I to Schedule III, sponsors argue that congressional action remains necessary to address the ongoing conflict between federal and state law that leaves many cannabis operators, accountants, attorneys, landlords, and other businesses that support the industry reliant on cash. Supporters say the bipartisan bill would improve public safety by reducing cash-heavy operations while expanding access to secure financial services for legal cannabis and hemp businesses operating in compliance with state law.

Cannabis curriculum. Representatives Troy A. Carter, Sr. (D—LA) and Dina Titus (D—NV) have introduced the Establishing and Developing University Cannabis Agriculture Techniques and Excellence (EDUCATE) Act, legislation designed to expand cannabis education and workforce development at minority-serving colleges and universities. The bill would provide $5 million annually in federal funding for historically black colleges and universities (HBCUs) and Hispanic Serving Institutions (HSIs) to develop cannabis focused academic and research programs, while also establishing a $100,000 annual scholarship program for undergraduate and graduate students pursuing careers in cannabis cultivation, research, business, and public policy.

The measure aims to ensure communities disproportionately impacted by cannabis prohibition have greater access to opportunities in the growing legal cannabis industry. It has received endorsements from organizations including the National Organization for the Reform of Marijuana Laws (NORML), Drug Policy Alliance, and Last Prisoner Project.

Nebraska: Governor Jim Pillen approved permanent regulations for the state’s medical cannabis program, moving them toward implementation after Attorney General review.

Glass House Brands uplists on New York Stock Exchange

The California-based cannabis company began trading on the NYSE under the ticker GLAS earlier this week, marking another milestone for U.S. cannabis businesses and signaling expanding access to mainstream capital markets.

TerrAscend targets major exchange uplisting

The North American cannabis operator filed a preliminary proxy statement with the U.S. Securities and Exchange Commission ahead of a shareholder vote on a proposed share consolidation, advancing its plans to uplist to a major U.S. stock exchange.

Tilray Brands buys HelloMD

The global cannabis and consumer packaged goods company expanded its medical cannabis footprint and Canadian patient access through the acquisition of the telehealth platform.

Flowhub fuels AI flexibility

The cannabis retail software company launched an MCP connector that lets dispensary operators link their POS platform to AI assistants including ChatGPT, Claude, Gemini, Grok, Perplexity, and Cursor to analyze data and execute workflows in natural language while maintaining permission controls and a complete audit trail.

Looking to get your business or brand in front of cannabis enthusiasts, entrepreneurs, and executives?

Email us here to learn more!

Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

*Did someone forward you this newsletter? Sign up here.