Cannabis Rescheduling Support 'Spans Democrats, Republicans, Independents': Cresco Labs CEO

As the cannabis industry faces increasing pressure, optimism is building around the potential for federal cannabis rescheduling.

During an interview at the recent Benzinga Cannabis Capital Conference, Cresco Labs CEO Charlie Bachtell spoke about the impact of rescheduling, highlighting it as the initial move toward long-term federal normalization.

Bachtell stressed the importance of rescheduling cannabis under federal law, calling it “the first step in finally having federal normalization” for the cannabis industry.

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Rescheduling on the Horizon

Completing the rescheduling process would be critical in allowing businesses to operate under more conventional financial and tax systems, Bachtell says.

This change could help companies “grow and continue normally” while eliminating unnecessary burdens imposed on the industry, he added.

The Cresco Labs executive pointed to widespread public support for cannabis rescheduling. “The vast majority of people support it in the United States,” Bachtell noted, adding that support spans political parties, with backing from Democrats, Republicans, and independents alike.

Industry Challenges Amid Optimism

Despite the hope for policy reform, Bachtell acknowledged ongoing challenges in the industry, particularly with price compression. He stressed that companies must focus on understanding their customers’ difficulties and finding ways to help them adapt. “We really want to understand that our customers are facing [challenges],” Bachtell said, recognizing the market’s competitive nature.

Still, he remains optimistic about the industry’s future, especially with potential breakthroughs in rescheduling on the horizon. Bachtell mentioned that larger cannabis brands and retailers employ innovative tactics to “fight the curve,” hinting at a positive outlook for the future. He expressed excitement about the possibilities these new approaches could bring to the industry, helping companies succeed in an increasingly crowded market.

A United Effort

Bachtell’s message is clear: rescheduling is just the beginning. For Cresco Labs and the wider cannabis community, it signals a step toward federal recognition and normalization, which will help drive growth and ensure the industry’s long-term viability. “We believe that rescheduling… is going to be the first step,” Bachtell reiterated, urging continued advocacy for reform.

As the cannabis market awaits potential rescheduling, Bachtell and Cresco Labs remain focused on navigating current challenges and preparing for a future shaped by federal policy changes.

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