Buying and Selling Cannabis Assets

California and Texas are heading in opposite directions on cannabis and hemp. Governor Newsom’s AB 564 marks a win for the legal cannabis market with the reversal of California’s cannabis excise tax increase, while Governor Abbott’s GA-56 signals tighter restrictions for hemp retailers. Together, they spotlight the widening policy divide between two of America’s largest states.

Last week, Donald Trump signaled he is considering rescheduling cannabis from Schedule 1 - a classification shared with heroin and deemed more dangerous than cocaine - to Schedule 3, where prescription drugs like Tylenol with codeine reside. This move could open the door to normalized banking, credit card payments at dispensaries, greater patient access, and potentially unlock sidelined investment capital. U.S. cannabis stocks reacted immediately, with some rising nearly 100%