Trulieve Cannabis Corp. is one of the largest vertically integrated cannabis companies in the United States, operating a comprehensive "seed-to-sale" business model. The company cultivates and manufactures a wide range of proprietary cannabis products—including flower, edibles, vaporizers, concentrates, and topicals—which it distributes primarily through its own branded retail dispensaries. Geographically, Trulieve holds a dominant market position in Florida and maintains established hubs in states such as Pennsylvania, Arizona, Ohio, and Georgia. In 2026, following the federal rescheduling of medical marijuana to a Schedule III substance, Trulieve completed a strategic corporate restructuring that deconsolidated its adult-use (recreational) operations. As a result, its consolidated business now consists entirely of state-licensed medical marijuana facilities, operating over 200 medical dispensaries supported by millions of square feet of DEA-registered production capacity. Financially, the company derives approximately 95% of its revenue directly from retail sales to patients. This strict medical-only focus enabled Trulieve to become the first U.S. plant-touching cannabis operator to uplist to the New York Stock Exchange (NYSE) in June 2026. The company's competitive position is driven by its massive scale, localized hub strategy, and strong brand loyalty among medical patients.