About the Course
Introduction
This CLE course will examine banking issues and capital access for medical marijuana businesses after the April 2026 Schedule III reclassification of marijuana for medical purposes. The panel will highlight the tax implications of rescheduling, including Section 280E deductions, One Big Beautiful Bill Act (OBBBA) opportunities, and other tax-planning considerations. The faculty will help attendees prepare for the business opportunities ahead, spotlighting pivot points from additional rulemaking efforts, judicial challenges, and other developments.
Description
The U.S. cannabis market is expected to reach USD 40.41 billion by 2034. Growth drivers include expanding legalization, broader acceptance, and increased investment in cultivation and retail operations.
In December 2025, the President signed an executive order starting the process of rescheduling marijuana under the Controlled Substances Act (CSA). Pursuant to that order, on Apr. 23, 2026, the Department of Justice (DOJ) and Drug Enforcement Agency (DEA) issued an order placing FDA-approved marijuana products and cannabis products regulated by a state medical marijuana license in Schedule III of the CSA. They also announced an expedited administrative hearing process to consider rescheduling marijuana from Schedule I to Schedule III. A new hearing beginning June 29 will "evaluate broader changes to marijuana's status under federal law."
The reclassification has significant financial implications for medical cannabis businesses, affecting banking, access to capital, and tax liabilities. It may also change how financial institutions assess the risks of serving these businesses, potentially expanding banking services (including lending) to improve cash flow and support growth. In addition, the reclassification ends the punitive limitations of Internal Revenue Code (IRC) Section 280E, allowing medicinal businesses to deduct expenses for federal tax purposes. Finally, Schedule III status signals federal recognition of accepted medical uses, which may expand research opportunities and draw attention from institutional investors and financial markets.
During this webcast, our faculty will review state and federal legal frameworks after the 2026 DOJ and DEA order and how banking services are likely to change in response. Discussion will include how financial institutions should assess policies and update practices to serve medical cannabis businesses while maintaining existing compliance obligations, including requirements for recreational cannabis and blended businesses. The panel will also address preparing for IRC Sec. 280E deductions, the viability of retroactive relief, the potential qualified business income (QBI) deduction, and other tax benefits under the OBBBA.
Listen as our authoritative panel summarizes the legal and financial impacts of the reclassification of marijuana for medical treatment, while imparting important operational considerations for cannabis-related businesses (CRBs) and the financial institutions serving them.
Presented By
Mr. Alovisetti advises investors, companies, and other law firms on complex corporate transactions across highly regulated industries, with a particular depth of experience in cannabis, hemp, psychedelics, and emerging consumer products. Extensive experience managing licensed transactions across major regulated markets provides Mr. Alovisetti with deep insight into state and local regulatory nuances, particularly regarding stock and asset acquisitions, management structures, and strategic investment planning. He also counsels emerging growth and portfolio companies on general corporate governance, commercial transactions, and compensation arrangements. Mr. Alovisetti is the co-author of The Business of Cannabis: Understanding Law, Finance, and Governance in America’s Newest Industry, the definitive industry legal resource. He frequently advises mainstream companies exploring investments in regulated markets, helping them evaluate and structure opportunities to mitigate risk.
Mr. Landau’s practice focuses on providing day-to-day business counseling to cannabis and other businesses with an eye toward avoiding problems before they arise. He also represents clients in litigation before federal, New York State, and local courts and other tribunals, including arbitration and mediation before the American Arbitration Association. Mr. Landau is a thought leader in the cannabis legal community. He frequently writes and speaks on such topics as attorney ethics, cannabis banking and licensing of cannabis businesses. He is Chair of the Ethics Committee of the Cannabis Law Section of the New York State Bar Association and Co-Chair of the Cannabis and CBD Litigation Committee of NYSBA’s Commercial and Federal Litigation Section. Mr. Landau is also a Founder and Immediate Past Co-Chair of the Westchester County Bar Association’s Cannabis Law Committee and a Director and Chair of the Regulatory Committee of the Hudson Valley Cannabis Industry Association.
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Mr. Robbins counsels clients on the evolving, complex legal and business issues impacting companies with interests in the regulated substances industries. He is a founding board member of the National Cannabis Bar Association and is also an active member of the National Cannabis Industry Association. Mr. Robbins brings deep experience representing public and private companies and individuals in complex regulatory and litigation matters in the regulated substances sectors. His experience encompasses investigations and administrative and enforcement proceedings brought by federal, state, and self-regulatory bodies, including the U.S. Securities and Exchange Commission (SEC), Florida Attorney General’s Office, Florida Department of Financial Services, and Florida Office of Insurance Regulation. In addition to his growing cannabis practice, Mr. Robbins also represents public and private companies and individuals in complex regulatory, and litigation matters in the financial services and regulated substances sectors.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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Date + Time
- event
Thursday, July 23, 2026
- schedule
1:00 PM ET/10:00 AM PT
I. Key CSA compliance considerations in light of the Schedule III classification
II. IRC 280E deductions: moving forward, retroactive relief, OBBBA benefits, and issues for mixed-use businesses
III. Bank services and regulations: what changed and what remains the same for medical operations
A. SAFE and SAFER Banking Acts
B. Reporting requirements under FIN-2014-G001: SARs
C. Compliance with AML and KYC requirements and the Bank Secrecy Act
IV. Capital access for CRBs: lending prospects, credit, including private credit and institutional capital
V. Access to U.S. bankruptcy protection
VI. U.S. public exchanges and plant-touching companies: analyzing changes
VII. A look ahead
A. Future federal oversight by the FDA and others for medical operations
B. The rulemaking process
C. Judicial challenges
D. Classification changes for adult recreational use
The panel will review these and other key issues:
- What financial benefits can be expected for CRBs operating in the medical marijuana industry?
- How can medical marijuana businesses pursue more banking services?
- What tax liabilities can be offset by an IRC 280E or QBI deductions?
- How can businesses prepare for future tax filings and retroactive filings?
- Will the reclassification to a Schedule III for medical treatment improve research and attract industry investment?
- What broader cannabis changes can CRBs expect?
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