TALLAHASSEE, Fla. — December 18, 2025 — Leads & Copy — Trulieve Cannabis Corp. is praising the Trump Administration’s decision to reclassify marijuana to Schedule III under the Controlled Substances Act.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a cannabis company in the U.S., applauds the action, which the company believes eases barriers to research and removes the punitive 280E tax burden.
According to Trulieve CEO Kim Rivers, the action represents change and a milestone in cannabis reform. Rivers also stated that Trulieve is grateful for the action taken by the Administration that acknowledges the medical benefits of cannabis, supports licensed and regulated operators, and allows law enforcement agencies to prosecute bad actors, also expressing a commitment to supporting the Administration throughout this process.
The company says that reclassification of marijuana to Schedule III is a first step in achieving common sense cannabis reform. The company believes that the reclassification opens the door for more robust research of medical marijuana, removes the tax burden imposed by Section 280E of the tax code, and retains flexibility for law enforcement to target and punish illicit operators.
Trulieve believes that reclassifying marijuana to Schedule III acknowledges the medical benefits of marijuana and eases restrictions on conducting medical research in the U.S. The company noted that research on the properties and benefits of marijuana has primarily been conducted in other countries with fewer restrictions on research; with this change, Trulieve believes that American companies and universities can take the lead with research designed to delineate medical applications as well as appropriate dosages and form factors for various patient populations including veterans and seniors.
According to Trulieve, Section 280E of the tax code was implemented to prohibit drug traffickers selling Schedule I or Schedule II substances from taking tax deductions for ordinary business expenses. The adoption of Section 280E preceded state legal marijuana programs and thus did not explicitly differentiate between drug traffickers such as foreign cartels and licensed operators subject to strict oversight by state regulators. The company states that by definition, Section 280E does not apply to Schedule III substances, and that removing the 280E tax burden supports state legal operators who provide patients and adults tested, labeled, and age-gated cannabis products.
The company believes that rescheduling marijuana applies common sense to cannabis reform by recognizing the difference between marijuana and dangerous drugs such as heroin and synthetic fentanyl. According to the company, rescheduling does not legalize marijuana, and law enforcement agencies retain the authority to target illicit operators, protect communities from illegal drugs crossing borders, and prosecute bad actors selling marijuana to children.
Trulieve is a vertically integrated cannabis company and multi-state operator in the U.S., with market positions in Arizona, Florida, and Pennsylvania. Trulieve is poised for accelerated growth and expansion, building scale in retail and distribution in new and existing markets through its hub strategy. By providing products across its brand portfolio, Trulieve delivers customer experiences and increases access to cannabis.
Investor and Media Contact:
Christine Hersey, Vice President of Investor Relations
+1 (424) 202-0210
Christine.Hersey@Trulieve.com
Source: Trulieve Cannabis Corp.
