Albuquerque Cannabis Entrepreneur Celebrates Major Shift in Marijuana Policy
Historic Executive Order by President Trump
On December 18, 2025, President Trump signed a pivotal executive order aimed at rescheduling marijuana from a Schedule I to Schedule III substance under the Controlled Substances Act. This move is seen as a significant advancement in U.S. cannabis policy, which acknowledges the medical utility of marijuana and could ease research restrictions surrounding its use.
Impact on Local Cannabis Businesses
Eric Seegle, the founder of Verdes Cannabis in Albuquerque, welcomed the executive order as a transformative development for the cannabis industry. Since obtaining his license in 2010, Seegle has faced challenges due to the current classification of marijuana, which prevents businesses from deducting standard operational expenses. This has placed a financial burden on many cannabis companies, often resulting in effective tax rates exceeding 100%—a situation that is virtually unheard of in other industries.
Financial Relief and Growth Opportunities
The anticipated shift to Schedule III would allow cannabis businesses to write off various expenses, aligning them more closely with traditional businesses. “This will provide much-needed cash flow to hire employees, improve compensation, and expand operations,” Seegle stated in a recent interview. The executive order recognizes the medical applications of marijuana, following recommendations from the Department of Health and Human Services (HHS) that identified its potential in treating conditions such as chronic pain and chemotherapy-induced nausea.
Broader Implications for Federal Cannabis Policy
While the rescheduling does not legalize marijuana federally, it marks a considerable step forward in aligning federal policy with state-level medical marijuana programs. More than 6 million registered patients currently utilize medical marijuana across the United States, underscoring a disconnect between federal regulations and actual medical practices. This executive order aims to bridge that gap, but it will take time for the rulemaking process to finalize the changes.
Future Considerations for the Industry
As the cannabis landscape continues to evolve, Seegle expressed optimism about the potential for a Medicare pilot program to expand access to hemp-derived CBD products. This initiative, set to begin in early 2026, would allow Medicare beneficiaries to receive up to $500 annually for CBD products, marking a significant integration of cannabis-derived therapies into federally insured healthcare. However, challenges remain, particularly concerning potential restrictions on THC levels in consumable products, which could limit market options.
Conclusion
The executive order represents a watershed moment for cannabis businesses in New Mexico and across the nation. With new opportunities for financial relief and research expansion, local entrepreneurs like Eric Seegle are hopeful that this change will foster growth and innovation in the burgeoning cannabis industry.
