George Archos, the head of marijuana giant Verano Holdings, has a simple wish this holiday season: treat his company like any other business. But roadblocks from the IRS and tech giants like Meta keep holding the industry back. As leaders gather at MJBizCon 2025, could real reform finally be on the way? Dive in to see what’s at stake.
The IRS treats cannabis companies differently, and that’s a huge pain for operators like Verano. Under Section 280E of the tax code, these businesses can’t deduct normal expenses like rent or payroll because marijuana remains a Schedule I drug federally. This rule forces them to pay taxes on gross revenue, not profits, which crushes margins.
Archos has spoken out about this in recent interviews. He calls it unfair and outdated, pushing for rescheduling to ease the burden. A 2024 Benzinga report highlighted his view that moving cannabis to Schedule III could be a game-changer, allowing standard deductions and boosting cash flow.
Verano, based in Chicago, reported heavy losses since going public in 2021, according to Crain’s Chicago Business in November 2025. Yet, the company stays optimistic. They operate in multiple states, and leaders say reforms could turn things around fast.
Data from the Tax Foundation shows cannabis firms pay effective tax rates up to 70% or more due to 280E. That’s way higher than other industries. Archos wants this fixed so his team can focus on growth, not tax fights.
Meta’s Ad Bans Stifle Growth
Social media giant Meta, which owns Facebook and Instagram, bans most cannabis ads. This blocks companies like Verano from reaching customers online, where billions shop daily. Archos points to this as a key barrier, saying it treats legal weed businesses like outlaws.
In a Yahoo Finance video from 2023, Archos explained how these rules hurt despite state-level legalization. He argues for fair play, letting cannabis firms advertise like alcohol brands do. Without it, marketing stays limited to in-person events or word-of-mouth.
Industry experts agree. A 2025 MJBizDaily article notes operators prepare for federal shifts, but tech policies lag. Verano has built a strong retail presence, with stores in states like Illinois and New Jersey, but online hurdles slow expansion.
One workaround? Partnerships and influencer deals, but they’re risky and less effective. Archos pushes for change, hoping rescheduling prompts Meta to update its rules.
This affects everyday users too. If ads were allowed, prices might drop due to better competition, making legal weed more accessible.
MJBizCon Spotlights Path Forward
At MJBizCon 2025 in Las Vegas, running December 2-5, Archos joins other leaders to tackle these issues head-on. The event, known as the cannabis world’s biggest gathering, focuses on deals, innovation, and reform talks.
Archos will discuss speeding up normal business treatment with minimal hassle. A recent MJBizDaily preview calls it the spot for networking and pushing boundaries. Verano’s recent win – a conditional license for Texas operations, announced December 2, 2025 – adds buzz to their presence.
Panels cover everything from rescheduling to banking woes. The SAFE Banking Act, stalled for years, could get new life, letting banks serve cannabis firms without fear.
Here’s what attendees might expect:
- Talks on federal reform milestones, like easier research.
- Networking for mergers and expansions.
- Exhibits showcasing new tech to dodge current limits.
Verano’s growth story shines here. Founded by Archos in 2014, they snagged Illinois’ first license and now thrive in multiple markets.
But challenges persist. A 2025 Yahoo Finance piece quotes Archos on thriving despite headwinds, emphasizing adaptation.
Hope Grows Amid Ongoing Struggles
Not everything is bleak. Federal moves hint at progress. The DEA’s push to reschedule cannabis, discussed in a 2024 Benzinga exclusive with Archos, could slash taxes and open doors.
Verano eyes more states, like their Texas entry. This positions them for a post-reform boom, potentially turning losses into profits. A Crain’s report from November 2025 notes despite no profits yet, Archos has zero regrets, betting on long-term wins.
Industry-wide, sales hit $29 billion in 2023, per BDSA data, with growth projected to $40 billion by 2026 if reforms kick in.
Still, operators juggle state rules varying wildly. Archos stresses unity to push for change.
As the cannabis world watches MJBizCon 2025 unfold, George Archos stands at the forefront, demanding fair treatment for his industry. His persistent Christmas wish underscores a fight for equality that could reshape the market, lower costs for consumers, and spark economic growth in legal states. From tax relief to ad freedom, these changes promise a brighter future, but only if leaders act fast.