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Recently, Buchanan's Cannabis Practice Group attended MJBizCon 2025 in Las Vegas from December 2 through 5. The event was well attended by the cannabis industry and had a diverse mix of operators, retailers, marketers, ancillary businesses and policy makers. There was significant buzz about the recent federal change to the definition of hemp and the current and prospective changes to state hemp and cannabis regulatory structures.
Below are some key takeaways from MJBizCon2025:
- Consumers can expect cannabis flower to remain central to retail shelves, with products, pricing and experiences increasingly tailored to specific needs like wellness, convenience and value.
- Operators should look to build regulatory reform-ready businesses by mastering today's fundamentals – from flower quality and cultivation to consumer segmentation and compliant marketing – rather than waiting on federal policy to save weak models.
- Investors should consider backing companies that can perform under current regulations, understand their customers deeply and maintain operational discipline, not those betting solely on rescheduling or federal reform timelines.
- Policymakers should be aware industry leaders are preparing for change but cannot depend on it, underscoring how regulatory clarity and consistency, not just reform headlines, will shape sustainable market growth.
The editorial staff at MJBizDaily summed up "the word on the street" at the conference quite nicely:
For cannabis operators, investors and ancillary businesses, major change has long seemed just around the corner. At MJBizCon 2025, the difference was that a game-changing shift had just happened, with more likely ahead as President Donald Trump weighs marijuana rescheduling after signing a ban on hemp THC into law. However, there are still fundamental rules that successful operators will follow that are reform-proof.
Below are five key areas operators should keep at the top of mind that will shape success for the cannabis industry in 2026 and beyond:
- More federal cannabis policy reform is coming. Will rescheduling pass ahead of the 2026 midterm elections?
- Be prepared for potential regulatory changes. The current landscape could remain largely unchanged for years to come or could rapidly change. Need to be able to account for both scenarios.
- Take the time to better understand consumer segmentation in order to provide better consumer experience and value. Understand you consumers' priorities: price, convenience, quality, effects, etc.
- Cannabis marketing is difficult as many states and municipalities prohibit it outright or severely restrict it. Cannabis marketers must find creative pathways to achieve high visibility and strong returns and must explore alternative verticals and platforms to deliver messaging and content to consumers.
- Although there have been significant product and technological innovations in the cannabis sector, marijuana flower remains the most popular cannabis product. Operators and retailers should continue to vet their product suppliers and pay close attention to their customers' preferences.
Buchanan's Cannabis Practice Group will continue to keep you informed about relevant developments in the hemp and cannabis sectors. Please do not hesitate to contact us should you wish to discuss your business' needs and opportunities in the cannabis sector.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
