This week, a new acting chief Derek Maltz was named to the Drug Enforcement Administration, and despite previous negative comments from Maltz, the cannabis industry’s response remains cautious.

Many in the industry viewed departing Chief Anne Milgram negatively, blaming her for slow walking the rescheduling of cannabis. She didn’t move quickly, but she also allowed the process to continue moving forward. But at the same time, she continued to treat cannabis as her predecessors did: as a Schedule I substance.

Hoping for the best

Despite Maltz’s past comments linking school shootings to obsessive cannabis use and being generally anti-cannabis, many industry participants are clinging to one of his somewhat positive comments: “If there’s scientific evidence to support [cannabis rescheduling], then so be it. But you’ve got to let the scientists evaluate it.”

The appointment of Maltz wasn’t a particular concern for some, who noted that policy likely will be driven by the president.

“President Trump is off to a fast start as the 47th POTUS with border security and the horrible implications of cartels and drug trafficking on America as an area of major importance, so we are not surprised by the recent appointment of Derek Maltz as the acting administrator of the U.S. DEA.,” Morgan Paxhia, managing director of Poseidon, said. “…We think it is better to focus less on any appointee’s dated/biased views on cannabis and more so on POTUS as the primary input for potential legislative reform and as it pertains to the scheduling of cannabis.”

David Culver, senior vice president of public Affairs of the US Cannabis Council, agreed, saying, “President Trump supports moving cannabis to Schedule III, and he is nominating officials who are committed to enacting his agenda. We look forward to working with the new administration to finalize this historic shift away from the failed policies of the past.”

Other pointed out that public sentiment toward cannabis legalization remains high, and that will likely influence the direction taken with regard to the plant and its derivatives.

“With the overwhelming public support for cannabis policy change at a national level, we remain hopeful that newly appointed DEA Chief Derek Maltz and his team will prioritize a modern, science-based approach to cannabis regulation,” Socrates Rosenfeld, CEO and co-founder of Jane Technologies, said. “The future of cannabis in America depends on balanced leadership, continued progress toward federal reform, and addressing the deep societal harm caused by prohibition.”

Todd Friedman, director of strategic partnerships of DAG Facilities, added, “Derek Maltz has an impressive record as a DEA special agent, recognized for his efforts in combating drug trafficking, particularly fentanyl. … It is hoped that Maltz will recognize that a regulated cannabis industry can contribute to public safety and generate revenue for research and education, ultimately benefiting the community.”

Not too thrilled

Others were dismayed with the choice, dismissing the position that the president likely will continue to lead the charge.

“Although President Trump expressed support for cannabis legalization during his campaign, his second nominee to lead the DEA, Derek Maltz, does not align with pro-cannabis priorities,” said Paula Savchenko, founding partner of Cannacore Group and PS Law Group. “While Maltz undeniably brings extensive expertise to the role – having spent over two decades tackling drug cartels and the fentanyl crisis as a career special agent at DEA – his previous statements raise concerns about his ability to fairly oversee the already fragile cannabis rescheduling process.

“His outspoken opposition has led many industry stakeholders to view his appointment as the final blow to a contentious rescheduling process – one that has already faced accusations of being undermined by the DEA,” she added.

Many are hesitant to dismiss Maltz’s past statement and actions.

“The new acting DEA administrator is a lifelong drug war hawk whose outdated attitudes toward cannabis are out of step with those of most Americans. At a time when most Americans are demanding long overdue changes in federal cannabis policy, Derek Maltz epitomizes the failed policies and approaches of the past,” Paul Armentano, deputy director of NORML, said.

Marc Beginin, founder and CEO of Prodigy Processing Solutions, also expressed concern. “Maltz’s vocal opposition to rescheduling cannabis risks stalling critical progress at a time when alignment with both science and public opinion is urgently needed,” he said. “Rescheduling to Schedule III would bring federal policy in line with scientific evidence, unlock funding for vital research, and ensure consistent safety and quality standards under FDA oversight.”

What’s next?

Maltz was named acting administrator and, as such, does not need congressional approval, unlike a formal nomination as the permanent administrator of the DEA.

Without that formal nomination to a permanent post, Maltz can serve in the acting capacity without congressional approval for an unlimited amount of time.

Maryland’s top marijuana regulatory agency is poised to get a new leader, pending confirmation by the state legislature, the state’s governor announced on Wednesday.

Tabatha Robinson, executive deputy director of economic development for the New York Office of Cannabis Management, will take over the Maryland Cannabis Administration post effective Feb. 19, Gov. Wes Moore announced.

Robinson is filling a job left open by the departure last month of Director Will Tilburg, Moore said in a press release. She also had been the acting chief equity officer at the New York OCM.

“Under Tabatha’s steady leadership, Maryland will continue to build out a thriving cannabis market that sets the standard for the rest of the country,” Moore said in the announcement, which focused on Robinson’s social equity work in New York.

Robinson called Maryland’s cannabis industry a “national model” and a “testament to prioritizing product safety for consumers and promoting social equity market-wide.”

The Maryland marijuana market, which launched in 2023, reached more than $1 billion in sales over last summer, and more companies – led by social equity entrepreneurs who were harmed by the war on drugs and cannabis prohibition – are poised to join the market in coming months.

Los Angeles-based Ispire Technology (Nasdaq: ISPR) will repurchase up to $10 million of its issued shares over the next two years.

The cannabis vaping hardware manufacturer will execute the buybacks through various means including open market transactions, accelerated share programs and privately negotiated deals, according to the company Wednesday.

“This move reflects confidence in the company’s growth and strategic investments while leveraging margin expansion to return capital to shareholders,” a spokesperson told Green Market Report in an email.

The timing and scope of repurchases will be determined by Ispire’s board “based on its evaluation of market conditions, share price, legal requirements and other factors.” The program can be suspended or modified at any time, the company said.

“Given the current capital markets environment, we believe starting our share repurchase program now is an excellent opportunity to buy our common stock at a significant discount to their intrinsic value and represents an attractive investment to potential shareholders,” Michael Wang, co-CEO of Ispire, said in a statement.

The firm operates globally through its Aspire brand of e-cigarettes, though that brand excludes the United States, China and Russia from its distribution network.

In the cannabis sector, Ispire has been pushing to expand its footprint beyond its established markets in the U.S., Europe and South Africa. The company recently began customer engagement initiatives in Canada and Latin America, according to the announcement.