Planet 13 Holdings has shared the following commentary regarding the December 18, 2025 Executive Order that directs the Attorney General to expedite completion of the process of rescheduling marijuana to Schedule III of the Controlled Substance Act.
Planet 13 remains committed to growth despite ongoing challenges related to banking, tax, and regulatory constraints, and the rescheduling announcement by the Trump Administration represents a positive development for job creation, industry growth and broader access to the potential medical benefits of cannabis.
© Planet 13
Rescheduling cannabis from Schedule I to Schedule III may reduce certain tax constraints currently faced by the legal cannabis industry, including those related to IRS Code Section 280E. Rescheduling helps establish a foundation for future safe banking reforms. Safe banking in the cannabis industry provides a secure environment for financial transactions, granting access to essential services like checking accounts and loans. It ensures transparency, reduces costs associated with cash handling, and offers consumers safe and convenient payment options. Overall, safe banking is crucial for industry growth, regulatory compliance, and enhancing consumer experiences. Moreover, it would unlock substantial economic benefits, including job creation and increased tax revenues.
"Rescheduling cannabis isn't the finish line—it's the launchpad for research breakthroughs, safer financial systems, and a stronger, more equitable economy," said Bob Groesbeck, Co-CEO of Planet 13. "This moment marks a turning point: the federal government is opening the door to science, safety, and progress for millions of Americans."
For more information:
Planet 13
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planet13lasvegas.com
