The recent Executive Order directing federal agencies to move cannabis toward Schedule III has generated enormous excitement — and just as much misunderstanding.

Headlines suggest immediate tax relief, banking reform, and federal legitimacy. The reality is far more nuanced.

In this presentation, David Kay, CPA, CMA, CFE, breaks down what the Executive Order actually does, what steps in the DOJ/DEA rulemaking process are already complete, what remains stalled, and why meaningful change will take time to materialize. More importantly, he explains why operators who plan based on assumptions — rather than procedure — face heightened risk over the next 6–18 months. 

This is not a hype video. It is a regulatory and financial reality check for cannabis operators, investors, lenders, and advisors. 

🌿 What You’ll Learn 

✔ What the Executive Order really does — and what it does not do 

✔ Which steps of the Schedule III rulemaking process are complete, in-progress, or not yet started 

✔ Why the DEA hearing delay matters and what must still occur before rescheduling becomes effective 

✔ How Schedule III could impact 280E — and why relief is likely prospective, not retroactive 

✔ Why higher federal legitimacy brings more scrutiny, not less 

✔ How inventory tracking, cost accounting, and documentation will face increased IRS attention 

✔ What rescheduling means (and does not mean) for banking, insurance, and dispensary operations 

✔ How hemp-derived cannabinoids and CBD fit into the parallel regulatory track 

💡 Key Takeaway

This Executive Order represents a structural shift, not a finish line. The opportunity is real — but so are the legal, administrative, and compliance hurdles that remain. Operators who prepare early will benefit. Those who assume immediate change may be exposed. 

👤 About the Speaker

David Kay, CPA, CMA, CFE President, Proactive Tax Planners PLLC Specialist in cannabis taxation, IRC §280E compliance, cost accounting, and regulatory readiness for cannabis operators, investors, and advisors. 

📧 Contact

David@ProactiveTaxPlanners.com

https://youtu.be/rj5EJfTTVSg?si=arRd5hY7oEVAPcLs