Born in the U.S.A

The time for American cannabis has arrived.

Daily Recap

The debate over cannabis has long been a tug-of-war between those pushing for full federal legalization and others worried about issues like smelly streets, psychological damage, and lazy teenagers—with few focused on the potential for efficacious agility.

As President Trump indicated last year, the rescheduling of cannabis offers a sensible middle ground that addresses concerns on both sides. With the current classification, it’s considered to have no accepted medical use and a high potential for abuse, which is complete bullshit hampering research efforts into the plant.

Moving cannabis to Schedule III would acknowledge its medical benefits, allow RFK Jr. and research scientists to study its therapeutic potential and potentially lead to new treatments and a better understanding of how medical cannabis can help patients.

One Man Band

Without proactive advocacy for cannabis rescheduling from President Donald Trump, the process could stall indefinitely, said former HHS and DEA officials. Matt Lawrence, former DEA, sees three potential outcomes for rescheduling in Trump’s administration:

1. “essentially nothing at all,” kicking the can down the road.

2. “do something really quick” to finalize the rescheduling rule. 👀

3. rescheduling, with separately proposed rules.

So, the thrust of the article, from what I can garner, is that two former government officials believe that if President Trump wants to move rescheduling forward—as he has already said—he will, but if he doesn’t, he won’t. Got it—but we knew that?

North Star

Adult-use cannabis sales in Minnesota edged closer to fruition after an administrative law judge signed off on the draft rules that will govern the market. The rules will “go into effect later this month,” the release noted.

“The adoption of rules is the most significant step to launching the cannabis market bc the office cannot issue business licenses until they are place.” OCM’s Eric Taubel

Germany, Bud

After months of speculation, the new German governing coalition announced today it has agreed on what to do regarding the nation’s adult-use cannabis legalization law and that the coalition has decided… to keep legalization in place.

No changes to the law are reportedly being made, although future evaluations will occur as part of the coalition agreement. The new governing coalition is expected to revisit the topic when the results of ongoing evaluations become available in Q425.

Stocks & Stuff

There was wicked vol on Wall Street as an early panic turned into a mean green rally after President Trump adjusted his global trade strategy.

U.S. canna sorta, kinda (but not really) participated most of the session before fading late on—wait for it—thin volume. The sad truth is that Elvis has left the building and there may only be one man who can bring him back.

Below, we’ll continue to navigate the tariff tussle, talk about potential seams for our space, circle one analyst’s single best idea, chew through recent pricing trends, and finger the future of big pharma.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $12M

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