Trulieve Becomes First U.S. Cannabis Operator To Uplist To The NYSE

Trulieve Cannabis Corp. (OTC: TCNNF) announced Friday that its subordinate voting shares have been approved for listing on the New York Stock Exchange, marking a historic milestone for both the company and the U.S. cannabis industry.

The company’s shares are expected to begin trading on the NYSE under the ticker symbol “TRLV” on June 10.

The move makes Trulieve the first U.S. cannabis operator to gain access to a major U.S. stock exchange following the federal government’s decision earlier this year to reclassify medical marijuana to Schedule III.

“This is a major advancement for Trulieve and the industry,” said Founder and CEO Kim Rivers. “As the first U.S. cannabis company to list on a major U.S. exchange, we are excited for the opportunity to expand our shareholder base, increase liquidity, and raise awareness for the benefits of medical marijuana.”

A Direct Result Of Medical Marijuana Rescheduling

The uplisting follows a series of federal actions that fundamentally altered the regulatory landscape for medical cannabis operators.

In April 2026, Acting Attorney General Todd Blanche finalized an order moving state-licensed medical marijuana products to Schedule III, following an executive order signed by President Donald Trump in December 2025.

The change created a pathway for DEA registration of state-licensed medical marijuana businesses and opened the door for exchange eligibility previously unavailable to operators involved in federally prohibited activities.

To qualify, Trulieve completed a corporate restructuring that separated operations serving adult-use markets from its remaining medical marijuana business.

According to the company, its consolidated operations now consist exclusively of state-licensed medical marijuana facilities registered with the DEA.

Those operations include 206 dispensaries and approximately 3.5 million square feet of production capacity.

What It Means For Cannabis Capital Markets

Beyond Trulieve itself, the listing could signal the beginning of a new chapter for cannabis capital markets.

For years, major U.S. multi-state operators were restricted to Canadian exchanges and over-the-counter markets because federal prohibition prevented access to the NYSE and Nasdaq.

That limitation reduced liquidity, restricted institutional participation, and kept many large investment funds on the sidelines.

Listing on the NYSE potentially changes that equation.

Major exchange access typically brings greater visibility, increased analyst coverage, improved liquidity, and a broader universe of potential investors.

It also represents one of the clearest examples yet of how medical cannabis rescheduling is beginning to influence capital formation within the industry.

Several cannabis companies have recently undertaken reverse stock splits, corporate reorganizations, and governance changes widely viewed as preparations for a more institutional investment environment.

Trulieve’s successful uplisting may provide a roadmap for other operators evaluating similar strategies.

Expansion Plans Remain In Focus

While the NYSE listing represents a significant milestone, Trulieve continues to focus on growth within its medical cannabis footprint.

The company identified Georgia and Texas as important expansion opportunities moving forward.

“Since inception, Trulieve has focused on serving medical patients with compassion, care, and high-quality products,” Rivers said. “With robust cash generation and meaningful catalysts ahead including expansion in Georgia and Texas, Trulieve is well positioned to deliver on our promise to increase access to medical cannabis for U.S. patients.”

The company’s shares are expected to continue trading on the Canadian Securities Exchange under the symbol TRUL and on the OTCQX under the symbol TCNNF until market close on June 9.

If Trulieve’s uplisting marks the beginning of a new chapter for cannabis capital markets, the industry’s next debate will be who follows and how. Those conversations will take center stage at the Chicago Cannabis Capital Conference on June 15–16, where operators, investors, and advisors will explore the opportunities and challenges emerging from the industry’s rapidly changing regulatory and financial landscape.