Four of the biggest MSOs each wrote a $2.5 million check to a Trump-linked PAC

The price of a seat at the federal table is now a matter of public record. New FEC filings show Trulieve, Curaleaf, Verano Holdings, and Vision Management Services — a Green Thumb Industries subsidiary — each donated $2.5 million in June to America First Agriculture Action Inc., a political committee that shares its treasurer, Charles Gantt, with President Trump's own super PAC, MAGA Inc.

The four $2.5 million checks weren't the whole story. Arboretum Bidco, the creditor vehicle that took over AYR Wellness, gave $1 million, and Ascend Wellness added $500,000. Stacked on the earlier $2.05 million routed through the industry's American Rights and Reform PAC, cannabis-linked contributions to Trump-connected committees now total at least $15.05 million.

The timing does its own talking: the money moved weeks after DOJ advanced rescheduling, the reform Trump has championed and the one carrying most of the sector's 2026 stock rally. Whether you read that as gratitude or as prepayment on the next favor — banking reform, the final rescheduling order, hemp policy — the largest operators have clearly decided federal outcomes are worth eight figures.

For everyone who isn't a top-five MSO, the takeaway is less comfortable. Policy that gets shaped by $2.5 million checks gets shaped around the people who can write them. Small operators aren't in that room — and the reforms that emerge from it won't be drafted with their margins in mind.