• Recently, President Donald Trump signed an executive order reclassifying cannabis as a Schedule 3 drug in the U.S., easing access to banking and enabling standard tax deductions for cannabis businesses.

• This regulatory shift materially improves the operating landscape for companies like Tilray Brands, potentially accelerating their ability to leverage existing hemp operations to expand into the U.S. market.

• Next, we’ll examine how easier banking access under Schedule 3 could reshape Tilray Brands’ investment narrative and longer-term business profile.

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To own Tilray Brands, you need to believe that cannabis will keep formalizing as a regulated consumer and medical category, and that Tilray can turn its diversified platform into durable, cash-generative scale. The move to Schedule 3 meaningfully reduces banking and tax frictions and likely supports the near term U.S. expansion catalyst, but it does not remove Tilray’s biggest current risk: deep, ongoing losses and the possibility of further dilution or balance sheet stress.

The most directly relevant recent announcement is Tilray’s December 2025 launch of Tilray Medical USA Inc., outlining a framework for U.S. medical cannabis operations. Paired with Schedule 3, this gives the company a clearer path to test U.S. entry using its medical and hemp infrastructure, which could become an important proof point for whether Tilray can translate regulatory openings into improving revenue quality and, over time, a less speculative business profile.

Yet investors should also be aware that, despite these regulatory shifts, Tilray’s long history of net losses and cash burn still raises questions about…

Read the full narrative on Tilray Brands (it’s free!)

Tilray Brands’ narrative projects $940.4 million revenue and $193.4 million earnings by 2028.

Uncover how Tilray Brands’ forecasts yield a $16.17 fair value, a 66% upside to its current price.

Nineteen fair value estimates from the Simply Wall St Community span roughly US$1.47 to US$16.17 per share, underscoring how differently individuals view Tilray’s potential. You can weigh those views against the fact that, even with Schedule 3 easing access to banking, Tilray’s persistent lack of profitability and past dilution remain central to how its future performance might unfold.

Explore 19 other fair value estimates on Tilray Brands – why the stock might be worth less than half the current price!