Cannabis Global Summit 2025 Concludes: Federal Reform at the Forefront
Las Vegas, NV – The Cannabis Global Summit 2025, a pivotal gathering for the burgeoning cannabis industry, concluded on June 6th in Las Vegas, following three intensive days of discussion and strategy sessions held from June 4th to June 6th. The event brought together a diverse array of industry leaders, policymakers, financial experts, and advocates to deliberate on the most pressing issues facing the sector, with a particular emphasis on the evolving landscape of federal cannabis policy.
The summit’s agenda was dominated by high-level discussions surrounding the prospects for federal reform in the United States. Against the backdrop of varying state-level legal frameworks, industry stakeholders are increasingly focused on achieving national clarity and stability. Sessions delved deeply into the potential pathways for such reform, including legislative action and administrative review processes.
Legislative Prospects: The SAFE Banking Act
A key focal point of the Cannabis Global Summit 2025 was the future of the SAFE Banking Act. This proposed legislation aims to provide a safe harbor for financial institutions to work with state-legal cannabis businesses, addressing a critical challenge that has long plagued the industry: access to traditional banking services. Currently, many cannabis companies are forced to operate largely as cash-only businesses, creating significant security risks and hindering their ability to access capital, secure loans, and manage finances efficiently.
Discussions at the summit explored the bill’s journey through Congress. While the SAFE Banking Act (or variations thereof) has seen success in the House of Representatives in past legislative sessions, its passage through the Senate has remained elusive. Panelists comprising legal experts, lobbyists, and financial professionals assessed the current political climate and the bill’s chances of passing the Senate specifically this year, 2025. Hopes were cautiously optimistic, acknowledging the bipartisan support for addressing the banking issue but also the procedural hurdles and competing legislative priorities in the Senate.
Industry executives from major multi-state operators (MSOs) shared firsthand accounts of the difficulties posed by the lack of banking access, highlighting how it impacts everything from payroll and tax payments to investor relations and expansion plans. The consensus among attendees was that the passage of the SAFE Banking Act is an urgent necessity for the industry’s maturation and legitimization.
Administrative Review: Rescheduling and Descheduling
Beyond legislative efforts, significant attention was also given to the potential for federal cannabis policy change through administrative review. This pathway primarily involves the executive branch, specifically actions by the Department of Health and Human Services (HHS) and the Drug Enforcement Administration (DEA).
Discussions centered on the ongoing administrative review initiated by the Biden administration, which could potentially lead to the federal rescheduling or even descheduling of cannabis under the Controlled Substances Act. Currently classified as a Schedule I drug, alongside substances like heroin and LSD, cannabis faces severe restrictions on research, interstate commerce, and is subject to the punitive Section 280E of the IRS tax code, which prevents state-legal cannabis businesses from deducting ordinary business expenses.
Experts at the summit outlined the process: HHS conducts a scientific and medical evaluation and makes a recommendation to the DEA, which then makes the final scheduling decision. Sessions debated the potential outcomes – moving to Schedule III (which would exempt businesses from 280E and ease some restrictions), Schedule II, or potentially removing it from the schedule entirely (descheduling).
Assessments of potential timelines for this administrative review process varied. While HHS had previously made a recommendation to the DEA, the DEA’s review process is independent and its duration uncertain. Attendees discussed factors influencing the timeline, including the complexity of the scientific review, potential legal challenges, and the political considerations involved. The possibility of action occurring within the next year or two was widely debated, with many emphasizing the need for preparedness regardless of the exact timing.
Addressing Urgent Needs: Financial Access and Regulatory Clarity
The overarching theme resonating throughout the Cannabis Global Summit 2025 in Las Vegas was the urgent need for both enhanced financial access and greater regulatory clarity. These two factors are seen as fundamental prerequisites for sustainable business growth, increased investment, and the eventual realization of interstate commerce.
The current patchwork of state-level regulations, coupled with the federal prohibition, creates significant operational complexities and legal uncertainties for businesses. This fragmentation limits the ability of companies to optimize supply chains, achieve economies of scale, and build national brands effectively. The inability to easily move products across state lines, even between states where cannabis is legal, stifles market efficiency and increases costs.
The summit provided a crucial platform for MSOs, financial experts specializing in the cannabis sector, and dedicated advocates to share strategies for navigating the current environment while pushing for systemic change. Discussions covered innovative financing models, compliance best practices in a complex regulatory landscape, and advocacy efforts aimed at educating policymakers and the public.
Attendees included top executives from some of the largest MSOs operating in the U.S., demonstrating the high-level nature of the conversations and the strategic focus of the event. Their presence, alongside prominent financial analysts and leading industry advocates, underscored the summit’s role as a key forum for tackling the industry’s most significant high-level strategic challenges.
Charting the Path Forward
As the Cannabis Global Summit 2025 wrapped up in Las Vegas, the prevailing sentiment was one of cautious optimism tempered by the reality of the significant hurdles that remain. While the path to comprehensive federal reform is neither guaranteed nor clearly defined, the detailed discussions on the SAFE Banking Act and the administrative review process provided attendees with valuable insights into the potential routes forward and the likely timelines involved.
The event reinforced the industry’s unified call for policy changes that would facilitate access to capital, provide regulatory certainty, and enable the efficiency of interstate commerce. The insights shared during the summit are expected to inform the strategic decisions of businesses and guide ongoing advocacy efforts as the cannabis industry continues its push for federal recognition and integration into the broader U.S. economy. The focus remains firmly on legislative progress in the Senate and the outcome of the critical administrative review process under the DEA.
