Green Thumb Industries vs. Curaleaf Holdings: Which Cannabis Stock Could Win Biggest From DEA Rescheduling?

For years, cannabis investors person waited for 1 catalyst susceptible of fundamentally changing the economics of the U.S. marijuana industry.

That hold whitethorn soon beryllium over.

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The Drug Enforcement Administration (DEA) rescheduled cannabis from a Schedule I substance to a Schedule III substance past month. This is simply a precise large woody (Schedule 1 drugs are considered highly unsafe with nary aesculapian use, portion Schedule III substances are considered little unsafe and has immoderate aesculapian uses.)

The biggest contiguous interaction would beryllium alleviation from Internal Revenue Service taxation regularisation 280E, which presently prevents cannabis companies from deducting galore mean concern expenses from income.

For multi-state cannabis operators already generating hundreds of millions successful revenue, that could dramatically amended profitability and escaped currency travel astir overnight. And 2 circumstantial marijuana stocks basal retired arsenic imaginable winners: Green Thumb Industries (OTC: GTBIF) and Curaleaf Holdings (OTC: CURLF).

But which banal could payment the most?

Green Thumb whitethorn already person the strongest fiscal instauration

Green Thumb enters this imaginable rescheduling rhythm from a presumption of antithetic fiscal spot for the cannabis industry.

The institution generated $1.2 cardinal successful 2025 revenue, on with $348.4 cardinal successful normalized EBITDA (earnings earlier interest, taxes, depreciation, and amortization) and astir $295 cardinal successful operating currency flow.

Even much important, Green Thumb remains consistently profitable nether mostly accepted accounting principles (GAAP) -- thing precise fewer large cannabis operators tin claim.

In Q1 2026, Green Thumb reported:

• Revenue of $300.2 million

• GAAP nett income of $15.4 million

• Normalized EBITDA of $93.5 million

• Cash equilibrium of $344.5 million

Its normalized EBITDA borderline reached 31%, which remains among the strongest successful the U.S. cannabis industry.

This isn't a trivial information constituent due to the fact that DEA rescheduling volition apt amplify existing strengths.

Green Thumb already operates efficiently contempt the crushing load of 280E taxes. Removing portion of that load could importantly grow net and currency generation.

Management has already openly discussed the opportunity, noting that rescheduling and resulting 280E alleviation volition make "meaningful flexibility" to reinvest into operations and aboriginal growth.