The PREPARE Act of 2025 aims to establish a Commission on the Federal Regulation of Cannabis to prepare the federal government for the eventual end of federal cannabis prohibition. This Commission will be tasked with studying and proposing a prompt and plausible pathway to federal regulation, specifically advising on the development of a comprehensive regulatory framework modeled after existing federal and state alcohol regulations. The bill acknowledges the widespread state-level legalization of cannabis and the ongoing challenges posed by federal prohibition, including hindered research and continued criminal prosecutions. The Commission's primary duties include proposing measures to alleviate the impacts of cannabis criminalization, particularly on minority, low-income, and veteran communities, and addressing barriers to financial services for cannabis businesses. It will also focus on improving access to cannabis-related research, ensuring consistent product safety and labeling requirements, and developing efficient revenue collection frameworks. To gather diverse perspectives, the Commission is mandated to solicit public comments and hold witness hearings involving industry stakeholders, criminal justice reform advocates, healthcare experts, and individuals formerly incarcerated for non-violent cannabis offenses. The Commission is required to publish initial findings and recommendations within 120 days, followed by additional public comment, and a final report with comprehensive recommendations for alcohol-like cannabis regulation within one year. Its membership will include a wide array of representatives from various federal agencies and non-federal experts in areas such as substance abuse prevention, cannabis history, medical treatments, and state cannabis control.