Kim Rivers, CEO of Trulieve, has emerged as a significant force in the cannabis industry, successfully lobbying for the rescheduling of marijuana from a Schedule I to a Schedule III substance under federal law, a move seen as a historic shift in drug policy.
On December 18, 2025, Kim Rivers, the CEO and chairman of Trulieve, a major player in the cannabis industry, left the White House after President Donald Trump signed an executive order that directed U.S. Attorney General Pam Bondi to reclassify marijuana as a less dangerous drug. Sitting in her Washington, D.C. hotel room, Rivers reflected on the moment, recalling, “Oh, my gosh, I cannot believe that just happened.” This pivotal moment comes after a two-year lobbying effort spearheaded by Rivers, along with financier Howard Kessler and other industry advocates, aimed at persuading President Trump, who has publicly abstained from both smoking and drinking, to reconsider marijuana’s legal status.
Marijuana has been classified as a Schedule I substance since the initiation of the War on Drugs by President Richard Nixon in 1970, placing it in the same category as heroin and LSD. The successful rescheduling of marijuana to Schedule III, which includes substances like ketamine and steroids, would mark a significant reform in federal drug policy, potentially the most substantial in nearly 60 years. While the process is not yet complete, the implications are profound.
Industry Influence and Lobbying
Rivers has become known as the “Trump whisperer” within the cannabis sector. While many executives have claimed close ties to Trump, it is Rivers who has effectively represented the cannabis industry in discussions with the president, including debates with House Speaker Mike Johnson on the merits of regulating marijuana and studying its medical applications. Rivers credits a mix of her connections and Trulieve’s political contributions as key factors in her influence.
Trulieve, founded by Rivers in 2016, has expanded from a single dispensary in Tallahassee to a cannabis powerhouse, generating $1.2 billion in sales with nearly 239 locations across eight states. The company also holds a dominant 35% market share of Florida’s medical marijuana market, which itself is projected to reach $2 billion in sales by 2025. Rivers and Trulieve have made significant political contributions to Trump-related entities, including $750,000 to his inaugural committee, further solidifying her position within the political landscape.
Historic Lobbying Efforts
The genesis of Rivers’ relationship with Trump dates back to 2024 when Trulieve, alongside Smart & Safe Florida, campaigned for Amendment 3, a ballot measure aimed at legalizing recreational marijuana sales in Florida. Although the amendment ultimately failed, Rivers maintained her relationship with Trump. In December 2025, during a crucial meeting in the Oval Office, Rivers engaged with the president and other influential figures, arguing that marijuana’s classification was incorrect. Trump, who had received mixed feedback from various stakeholders, including former boxer Mike Tyson, weighed the perspectives presented during this meeting.
As discussions progressed, Trump was reportedly swayed by a variety of inputs, including those from law enforcement officials like Bradford County Sheriff Gordon Smith, who had initially opposed medical marijuana but later supported regulation. Smith noted Rivers’ ability to communicate effectively with Trump, stating, “She had [the president’s] ear” and praised her delivery style. Ultimately, Trump made a decisive move, opting to proceed with the rescheduling.
Trulieve’s Business Model and Future Prospects
Rivers’ journey into the cannabis world began in 2014, following her successful career in law and business. After the Florida legislature legalized a CBD/low THC program, Rivers took a gamble on the emerging cannabis industry, forming Trulieve with partners from the nursery sector. Under her leadership, Trulieve has grown rapidly, opening numerous dispensaries and cultivation facilities.
In addition to its substantial growth, Trulieve has faced challenges, including a net loss of $122.2 million last year despite its significant revenue stream. The company’s financial future hinges on the potential rescheduling of marijuana. Currently, cannabis firms are burdened by a strict tax code, 280E, which limits deductions and imposes high effective tax rates. If marijuana is reclassified as a Schedule III substance, it could result in immediate financial benefits, allowing companies like Trulieve to operate under a more favorable tax framework.
As Rivers toured Trulieve’s expansive cultivation facility, known as the “Megatron,” she highlighted the importance of efficient operations. The facility employs advanced technology to optimize production, showcasing Trulieve’s commitment to innovation within the cannabis sector. Rivers expressed optimism about the future, stating, “We will be pretty immediately net income positive” if rescheduling occurs.
The Broader Implications of Rescheduling
While the rescheduling of marijuana will not equate to complete legalization, it signals a shifting attitude towards cannabis within the federal government. Rivers acknowledged the long history of incremental change in the U.S. cannabis landscape, dating back to California’s legalization of medical marijuana in 1996. She emphasized the nonpartisan nature of the issue, asserting that it transcends traditional political divides and speaks to personal freedom and wellness.
Both President Biden and Trump have played roles in the evolving narrative around cannabis reform, a shift that Rivers believes reflects a growing acceptance of marijuana’s place in society. As the cannabis industry continues to navigate its complex regulatory landscape, Rivers remains a key figure, advocating for a future where marijuana is legally recognized and regulated at the federal level.
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