The Trump Whisperer: Inside One CEO's Fight To Reschedule Marijuana

Cannabis remains federally illegal, classifying those involved in the industry as drug traffickers, or as Kim Rivers prefers, "drug lords." Rivers believes the industry is at a tipping point, highlighting the nonsensical disconnect where 40 states have medical marijuana laws, yet cannabis companies are treated similarly to heroin dealers. On December 18, 2025, Rivers was present when President Donald Trump signed an executive order to reschedule cannabis, a monumental policy change since its initial classification as a Schedule I substance. Rivers, CEO of Trulieve, has been instrumental in persuading the president to direct his attorney general to reclassify marijuana as a less dangerous drug. Despite this progress, marijuana is still a Schedule I substance, meaning the federal government continues to tax Trulieve and other cannabis companies as if they were trafficking heroin, with tax rates sometimes exceeding 70%. Rivers argues that allowing regulated American companies to compete is crucial for keeping out drug cartels. Trulieve has grown from a single dispensary in Tallahassee in 2016 to a company generating $1.2 billion in sales last year, with a presence in nine states and a 35% market share in Florida's $2 billion medical market. Rivers' journey into cannabis began when she was approached by a group of nursery owners in Florida, who needed to form a business to compete for one of the state's initial cannabis licenses. Having had successful exits in her previous M&A and real estate ventures, Rivers was intrigued by the opportunity. She spent six months traveling the country, visiting cultivation facilities in Colorado and California to understand the nascent industry. Florida's program offered an unlimited vertical license, allowing for scale without limitations on plant numbers, square footage, or store count, provided everything was produced in-house without wholesaling. Trulieve secured one of five state medical marijuana licenses in 2015 and opened its first dispensary and a 60,000-square-foot cultivation facility in a former tomato packing plant in Quincy in 2016. Repurposing these buildings and bringing employment back to communities like Gadsden County was a core part of Trulieve's mission. The initial facility housed cultivation, conference rooms, innovation sites, labs, production, and shipping, often dealing in rooms rather than entire buildings for cultivation. The company later expanded to 24,000-square-foot cultivation-only facilities, moving from manual hand-watering to irrigation and then to full automation to optimize plant health and efficiency. Trulieve's current "Crown Jewel" is an 80-acre cultivation campus in Monticello, Florida, opened in 2022. This state-of-the-art facility boasts 11 buildings spanning approximately 1 million square feet, with its own electrical substation. One building alone houses a propagation room, three mother rooms, six veg rooms, and 18 flower rooms, totaling 750,000 square feet under one roof—equivalent to three Super Walmarts. This facility produces hundreds of thousands of pounds of cannabis annually and can service all 163 Trulieve dispensary locations in Florida. The facility utilizes advanced automation, including piped-in water from the Florida aquifer, reverse osmosis, and proprietary nutrient injection for each plant. Mechanical trolleys move plants between light and dark rooms, a process that takes minutes to swap hundreds of plants, replacing the need for manual movement every 12 hours. Plants spend about 60 days in the flower rooms before being harvested, hang-dried, and prepared for market. Despite Trulieve's $1.2 billion in annual revenue, the company reported a $122.2 million net loss last year due to tax code 280E. This code, designed for drug traffickers, severely limits deductions, allowing only for costs of goods sold, resulting in an effective tax rate of 60% of gross revenue or higher. For Trulieve, rescheduling marijuana to a Schedule III drug would mean 280E no longer applies, leading to an immediate shift to profitability. Rivers believes that President Trump's unique approach to gathering information from diverse sources was crucial in the rescheduling decision. She described him as a "crowd sourcer" who listened to many voices on cannabis, including veterans, medical professionals, and individuals whose lives had been positively impacted. This broad consultation, coupled with the high public approval for medical marijuana across all demographics, contributed to the president's evolving perspective. During a meeting in the Oval Office with key figures like Robert F. Kennedy Jr. and Dr. Mehmet Oz, Rivers explained the misclassification of marijuana. Although Speaker of the House Mike Johnson urged the president not to proceed for moral reasons, Trump ultimately signed the executive order. Rivers described the day the executive order was signed as emotional, reflecting on the efforts of many to reach that moment. She emphasized that rescheduling would enable real research, transforming how products are brought to market and how various conditions can be addressed. Trulieve, an epitome of corporate cannabis, draws inspiration from brands like Starbucks, focusing on consistent quality, innovation, and strong customer connection. They aim to create "raving fans" and foster loyalty, similar to Starbucks' personalized customer service. Rescheduling will not make marijuana federally legal, but it signifies a significant step in the incremental changes that have been unfolding across the US since California legalized medical marijuana in 1996. Rivers is optimistic that state and federal laws will eventually align on the medical side. She envisions Trulieve continuing to focus on health and wellness, recognizing that even in adult-use settings, cannabis is often sought for relaxation, stress relief, or addressing conditions like sleep issues or pain. Rivers asserts that marijuana is not a political issue but a human one, especially medical marijuana, which garners broad support across the political spectrum. The bipartisan effort, involving both President Biden and President Trump, underscores that rescheduling is not inherently political.