From May 12–14, cannabis operators, advocates, and service providers gathered in Washington, D.C., for NCIA Lobby Days 2026.

The National Cannabis Industry Association’s 14th annual event gave industry participants an opportunity to discuss federal cannabis policy directly with lawmakers and congressional staff.

According to NCIA’s event recap, 71 participants representing 25 states and Washington, D.C., completed 78 congressional meetings.

Those discussions came at an important moment. Federal marijuana policy had changed only weeks earlier, yet significant questions remained around banking, taxation, adult-use businesses, and the relationship between state and federal law.

For cannabis operators, these are not distant policy debates. They affect profitability, financial access, payment stability, hiring, investment, and long-term planning.

Here are the most important takeaways from NCIA Lobby Days 2026.

Rescheduling Is Progress, but Not a Complete Solution

Federal rescheduling was one of the event’s central topics.

In April 2026, the Department of Justice moved certain FDA-approved and state-regulated medical marijuana products to Schedule III. The government also continued a broader administrative process that could affect the federal classification of marijuana more generally.

The DEA’s formal hearing on the broader proposal began on June 29 and was scheduled to conclude by July 15, 2026.

These developments represent meaningful changes. However, they do not create nationwide cannabis legalization.

Adult-use cannabis businesses generally remain subject to the conflict between state authorization and federal prohibition. Even broader rescheduling would not automatically establish federal rules for interstate commerce, banking, payment processing, or licensing.

That distinction was a major message during Lobby Days. Rescheduling can be part of federal cannabis reform, but the industry still needs legislation that addresses its wider structural challenges.

Tax Clarity Is an Immediate Business Priority

Section 280E of the Internal Revenue Code has long been one of the cannabis industry’s greatest financial burdens.

The provision generally prevents businesses trafficking Schedule I or Schedule II controlled substances from deducting many ordinary business expenses. For cannabis operators, that has historically limited deductions for expenses such as payroll, rent, marketing, and administrative costs.

The new federal treatment of qualifying medical marijuana creates the possibility of tax relief for some businesses. However, it has also introduced new questions.

Operators may hold both medical and adult-use licences. Others may serve several markets through one business entity. Until the IRS and Treasury Department provide clear implementation guidance, companies may face uncertainty about which activities qualify for different tax treatment.

During Lobby Days, NCIA members emphasized the need for timely federal guidance. They also opposed proposals that could preserve Section 280E restrictions even if marijuana’s federal classification changes.

Cannabis businesses should avoid assuming that rescheduling automatically removes their 280E obligations. Operators should work with tax professionals who understand cannabis and can evaluate the company’s licences, products, revenue sources, and federal status.

Cannabis Banking Reform Remains Necessary

Rescheduling does not directly solve the industry’s banking challenges.

Financial institutions still evaluate cannabis businesses within a complicated legal and regulatory environment. Many operators have limited access to deposit accounts, loans, lines of credit, and other services that conventional businesses use every day.

This is especially difficult for independent and minority-owned companies, which may have fewer financing alternatives than large multistate operators.

NCIA members continued advocating for federal banking protections during Lobby Days. Following the event, lawmakers reintroduced the SAFE Banking Act in the 119th Congress.

The proposed legislation would establish protections for financial institutions that choose to serve state-licensed cannabis businesses. It would not legalize cannabis, require every bank to accept cannabis customers, or guarantee access to every financial product.

NCIA’s announcement about the SAFE Banking Act’s reintroduction also stressed that banking legislation remains necessary even after the federal changes affecting medical marijuana.

For operators, expanded banking access could improve cash management, financial transparency, and access to capital. However, specialized underwriting and ongoing compliance would remain part of the process.

Banking Reform Does Not Automatically Fix Payments

Banking and payment processing are closely related, but they are not identical.

A business bank account may allow a dispensary to deposit funds, pay vendors, and manage payroll. It does not automatically provide access to every debit, credit, or ecommerce payment method.

Payment providers, card networks, acquiring institutions, and sponsoring banks can each apply separate eligibility requirements. A cannabis business may therefore have a compliant bank account while still facing limited checkout options.

Federal banking reform could create a more stable environment for payment providers. Still, it would not eliminate the need for transparent underwriting, industry-aligned banking relationships, and regulatory monitoring.

Operators can learn more about this distinction in PayRio’s guide to the evolution of cannabis banking.

State and Federal Policies Still Need Alignment

NCIA Lobby Days 2026 also highlighted the problems created by conflicting state and federal policies.

State regulators oversee licensing, testing, inventory, packaging, and retail operations. Meanwhile, federal law continues to create uncertainty around taxes, banking, interstate activity, and access to capital.

NCIA members discussed legislation such as the STATES 2.0 Act, which is intended to create greater federal recognition of state cannabis policies.

For operators, more alignment could improve long-term planning. Businesses would have greater certainty when making decisions about hiring, expansion, investment, and financial infrastructure.

However, any future legislation will need to address the differences between medical markets, adult-use programs, ancillary businesses, and states that continue to prohibit cannabis.

A single policy change is unlikely to resolve every issue. The industry will need coordinated action across Congress, federal agencies, state regulators, financial institutions, and business stakeholders.

Smaller Operators Need a Voice in Federal Policy

The effects of federal cannabis policy are not distributed equally.

Large operators may have greater access to legal counsel, capital, financial partners, and multistate compliance teams. Independent businesses often have fewer resources available to absorb high taxes, banking fees, or service disruptions.

These pressures can make it harder for small companies to compete against large operators and the illicit market.

NCIA’s advocacy emphasized the importance of including business owners and industry professionals in policy discussions. Firsthand stories help lawmakers understand how federal rules affect real companies, employees, and communities.

This involvement also supports social equity goals. Creating licences is only the first step. Entrepreneurs also need access to banking, payments, capital, professional services, and sustainable operating conditions.

Advocacy Requires Consistent Industry Participation

Lobby Days reinforced the importance of building long-term relationships with policymakers.

Federal reform rarely happens through one meeting or one piece of legislation. Lawmakers and their staff need reliable information as proposals move through committees, agencies, and regulatory processes.

Operators can contribute by sharing specific examples of how current policies affect their businesses. Tax burdens, payment disruptions, financing challenges, compliance expenses, and cash-management risks can make the consequences of federal inaction easier to understand.

NCIA Lobby Days brought together participants from medical, adult-use, and emerging markets. The meetings also included both Democratic and Republican offices, reflecting the need for a broad coalition around durable reform.

Consistent engagement can help ensure that future policies reflect the realities of operating within regulated cannabis markets.

PayRio’s Role at NCIA Lobby Days 2026

PayRio CEO Aubrey Amatelli participated in the event’s conversations around cannabis banking, payments, financial access, and federal reform.

As Chair of NCIA’s Banking & Financial Services Committee, Aubrey works with other industry professionals to help communicate the financial challenges facing cannabis businesses.

This participation is important to PayRio’s broader mission. Payment providers see how financial restrictions affect cannabis businesses at checkout, during underwriting, and throughout daily operations.

Bringing those experiences into policy discussions helps connect proposed legislation with the practical needs of dispensaries, brands, and other regulated businesses.

What Cannabis Operators Should Do Next

The policy environment is changing, but cannabis businesses should not delay decisions while waiting for federal reform.

Operators should maintain accurate financial records, confirm that their licences remain current, and review how medical and adult-use revenue is documented. They should also discuss 280E exposure with qualified tax counsel rather than making changes based only on rescheduling headlines.

Banking and payment relationships deserve the same attention. Providers should knowingly support the merchant’s business model and jurisdiction. Businesses should disclose changes to ownership, products, locations, and transaction volume before those changes create an underwriting problem.

Payment redundancy is also important. Depending entirely on one payment method can leave a dispensary vulnerable to technical interruptions or provider changes. A properly underwritten backup solution can help protect revenue and customer experience.

As explained in PayRio’s article on why payment stability matters more than approval speed, long-term reliability begins with transparent underwriting and infrastructure designed for the industry.

Looking Ahead

NCIA Lobby Days 2026 showed that federal cannabis policy is moving, but significant work remains.

Rescheduling created important opportunities while also raising questions about taxation and the division between medical and adult-use markets. Banking legislation has returned to Congress, but cannabis businesses still need greater certainty around financial services and payments.

The clearest takeaway is that reform cannot stop with one administrative or legislative change. The industry needs coordinated policies that address taxation, banking, state markets, business competition, and long-term financial stability.

Cannabis operators should continue monitoring federal developments while strengthening the systems they can control today.

At PayRio, we help eligible cannabis businesses evaluate payment solutions designed around the industry’s operational and compliance requirements. Contact PayRio to discuss a more stable payment strategy for your business.