Trulieve Cannabis Corp Sees Surge Amid Potential Federal Reclassification of Marijuana

In a significant development for the cannabis industry, shares of Trulieve Cannabis Corp experienced a notable surge on Monday, following President Donald Trump’s indication that his administration is considering reclassifying marijuana as a less dangerous drug. This potential shift in federal policy could lead to eased criminal penalties and a major transformation in the industry’s standing at the national level.

Shares of Trulieve Cannabis Corp jumped by 27% on the Toronto Stock Exchange, reflecting the broader optimism sweeping through the sector. This surge was part of a larger trend, with leading cannabis companies like Tilray Brands, SNDL, and Cronos Group seeing their shares rise by 24%, 15.5%, and 13.2% respectively on the NASDAQ. The potential reclassification from Schedule I to Schedule III under the Controlled Substances Act is at the heart of this optimism. Such a move would acknowledge marijuana’s accepted medical use and lower its perceived potential for abuse, unlocking significant benefits for the industry.

The discussion around this potential reclassification was reportedly brought up at a high-profile fundraising dinner at President Trump’s golf club in New Jersey, where the entry fee was $1 million per person. Among the attendees was Kim Rivers, CEO of Trulieve Cannabis Corp, who advocated for the reclassification and an expansion of medical marijuana research. The presence of industry leaders from the cannabis, pharmaceutical, and cryptocurrency sectors underscored the wide-ranging interest in this policy shift.

This potential reclassification is not entirely new; it was initially recommended by the Biden administration but remained incomplete. Moving marijuana to Schedule III would facilitate legal trade, offer tax relief to companies, and promote research, marking a significant regulatory breakthrough for the industry. While it would not make cannabis fully legal, it represents a substantial step forward.

Trulieve Cannabis Corp, a healthcare holding company based in Quincy, operates in the cultivation, possession, sale, and distribution of medical cannabis products in the United States. With a market capitalization of $845.28 million and a close price of $5.73 as of August 7, 2025, the company stands to benefit significantly from any easing of federal restrictions on cannabis.

The potential reclassification of marijuana signals a pivotal moment for the cannabis industry, promising to reshape its landscape. For companies like Trulieve Cannabis Corp, this development could herald a new era of growth and opportunity, underscoring the importance of staying attuned to federal policy shifts in this rapidly evolving sector.