🌿 Industry reacts to rescheduling news, Vireo Growth expands via Eaze acquisition, and states consider reversing adult-use legalization

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.

As the year comes to a close, we just want to take a moment to say thank you. Your support and readership have made this year truly special for The Pre Roll. It’s been a big year for the cannabis industry and next year is set to be even bigger. Here’s to closing out 2025 on a high note. We are looking forward to what’s ahead in 2026!

Here’s what we’re rolling up this week:

• Industry reacts to rescheduling news

• Vireo Growth expands via Eaze acquisition

• States consider reversing adult-use legalization

…and more. Let’s get to it.

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🚨 ROLL CALL

News

Industry reaction. The cannabis industry is responding to last week’s historic rescheduling executive order that was signed by President Donald Trump, with stakeholders assessing the potential opportunities, challenges, and long-term implications of moving cannabis from Schedule I to Schedule III. Companies, executives, legislators, and advocacy groups are already analyzing how the shift could reshape research, taxation, and business operations.

Here is a snippet:

• AYR Wellness CEO Scott Davido: Applauds the rescheduling as a historic moment that helps unlock research into the medical efficacy of cannabis and fair tax treatment for licensed cannabis operators.

• Canopy Growth Corporation: Welcomes the decision and frames it as a positive step for the cannabis industry and company.

• Cresco Labs CEO Charlie Bachtell: Describes it as a landmark shift and cultural turning point that validates and normalizes the legal cannabis industry.

• Curaleaf Chairman and CEO Boris Jordan: Hails the rescheduling as a historic milestone recognizing the medical value of cannabis and enabling expanded research, patient access, and industry growth.

• Mike Tyson: Celebrates the rescheduling as a practical step that modernizes policies, supports workers and families, and officially recognizes hundreds of thousands of cannabis jobs.

• National Cannabis Industry Association (NCIA): Emphasizes that while the rescheduling is meaningful progress, lawmakers must build on it with clear federal guidelines, respect for states’ rights, and support for compliant cannabis businesses.

• NORML Deputy Director Paul Armentano: Calls the rescheduling an overdue recognition of the legitimate medical utility of cannabis and a correction of past federal overreach against patients and doctors.

• Representative Dina Titus (D-NV): Urges that after the rescheduling, cannabis should be fully de‑scheduled rather than merely reclassified.

• Representative Greg Steube (R-FL): Argues that moving to Schedule III is a necessary step to free scientists and researchers to explore cannabis for new treatments and cures, noting there’s no logical reason it was treated like heroin or LSD for the last 50+ years.

• Safe Harbor Financial: Acknowledges that it does not resolve core banking challenges for the industry, but sees rescheduling as a major growth opportunity for its cannabis banking platform.

• Senate Democratic Leader Chuck Schumer (D-NY): Frames the rescheduling as progress while urging additional reforms are needed on decriminalization, banking access, and addressing past cannabis-related injustices.

• Senator Elissa Slotkin (D-MI): Notes that rescheduling aligns federal policy with what Michigan voters approved on cannabis reform in 2018.

• Senator Rand Paul (R-KY): Supports the decision as consistent with reducing federal overreach and giving states the ability to decide.

• Trulieve CEO Kim Rivers: Views the rescheduling as a moment that makes all the hard work worthwhile and emphasizes its benefits for millions of medical cannabis users nationwide.

• Vicente LLP: Highlights the move as a historic change in federal cannabis policy with legal implications.

We’ll continue to cover industry reactions as the rescheduling process unfolds in 2026.

Business

Eaze-y does it. Vireo Growth announced that it has agreed to acquire cannabis retailer and delivery technology company Eaze in a move that will significantly expand its footprint and capabilities.

Following the transaction, Vireo will have operations in 10 U.S. states, encompassing 166 active retail dispensaries and about 800,000 square feet of cultivation and production facilities.

The deal is structured as a merger with base consideration of roughly $47 million and is expected to close in the first half of 2026, subject to regulatory approvals and customary conditions.

Policy

Roll back. Ballot initiatives in Maine and Massachusetts are moving forward for the 2026 elections that aim to repeal or roll back adult‑use cannabis legalization. These measures could end commercial cannabis sales and home grows in the states and signal a growing political challenge to previously expanding legal markets.

In Maine, a citizen‑led effort aims to put a question on the 2026 ballot asking voters whether to eliminate parts of the state’s 2016 recreational cannabis law that allow licensed adult‑use cultivation, sales, and purchases; limited personal possession would still be permitted.

In Massachusetts, a campaign has already submitted enough signatures to advance a 2026 ballot petition that would reverse the 2016 legalization of adult‑use cannabis.

Both proposals could potentially dismantle a massive state-legal recreational cannabis market.

🇺🇸 STATE OF THE INDUSTRY

Alabama: Dozens of doctors are completing training to recommend medical cannabis as the state’s program moves closer to launch.

New Mexico: Duke Rodriguez, a prominent cannabis entrepreneur and CEO of Ultra Health, is officially running for governor in 2026 as a Republican.

New York: The Cannabis Control Board approved 38 new adult‑use cannabis licenses and highlighted progress on the regulated cannabis market, including seed‑to‑sale tracking implementation and sustained sales growth.

Ohio: Governor Mike DeWine signed a law banning intoxicating hemp products and tightening cannabis regulations.

💼 BUSINESS

Mint Cannabis makes debut in the Sunshine State

The multi-state cannabis operator is launching in Florida with 18 new medical cannabis dispensaries across the state.

🤝 DEALS

Curaleaf terminates deal with The Cannabist Company

The mega cannabis company has terminated its binding commitment to acquire a the latter’s Virginia-based assets after a competing offer emerged.

💨 QUICK HITTERS

• C3 Industries is closing a cannabis cultivation facility and laying off 62 workers as a result of Michigan’s new 24% wholesale cannabis tax.

• Petalfast and Sunderstorm signed a letter of intent to combine distribution and logistics operations in a strategic California expansion.

• Aurora Cannabis launched Daily Special, a new medical cannabis brand for the German market, focused on affordable, high-quality products for patients.

• IM Cannabis, a medical cannabis company with operations in Israel and Germany, appointed Asi Levi as its new Chief Financial Officer.

📚 WHAT WE’RE READING

• Trump made cannabis decision during heated Oval Office meeting: Exec (NewsNation)

• Cannabis reclassification could finally end the industry's financial exile (NBC News)

• Trump’s marijuana order throws lifeline to hemp industry (The Hill)

• Michigan marijuana businesses, customers see hazy future with new tax (Detroit News)

• Economic boon or disaster? Trying to move through the haze surrounding marijuana reclassification (Colorado Public Radio)

• Al Harrington: The Heart of a Lion (Cannabis Now)

• Bye-Bye 280E: New Executive Order Concerning Cannabis Rescheduling (Goodwin Procter)

🎙️ POTCASTS

• Schedule III Changes Everything — This Is Just the Beginning (The Dime)

🔎 JOB BOARD

• Senior Software Engineer, Front-End

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• Assistant Secretary for Gaming, Cannabis, and Alcohol

  • New York State Executive Chamber

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• HR Business Partner (Payroll, Benefits & HR Operations)

  • The Travel Agency

  • $80,000—$105,000

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Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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