Florida Man

DeSantis' pot pillow talk problematic.

Daily Recap

Gov. Ron DeSantis’ crusade to defeat a Florida adult-use cannabis ballot measure received $10 million from two groups that got money from a nonprofit associated with first lady Casey DeSantis’ community-based assistance program.

Weeks after the DeSantis administration steered $10 million from a legal Medicaid settlement to a charity spearheaded by the first lady, the Hope Florida Foundation gave $5 million apiece to two separate organizations that gave millions to a political committee waging an anti-cannabis campaign championed by the governor.

Separately—and through the proper legal channels—Trulieve contributed ~$20M in the first three months of 2025 in a renewed effort to pass a constitutional amendment that would allow for adult-use cannabis, according to a newly filed finance report.

Spring Dreaming

David Culver, USCR’s Senior Vice President of Public Affairs, is ‘still optimistic about the President acting on cannabis reform’ and believes speculation over the death of the rescheduling process is premature. Culver believes that the decision rests with the President, ‘who evolved on this issue considerably since his last time in office.’

“The transition team … they brought out their whiteboard, put their top 10 priorities together for the first 100 days and then made a list of the next 90, and we’re in there. But again, it’s like, when will they get to the second tier of issues that they want to work on? We’re going to have to be patient. And being patient is especially difficult when you’re facing a very tough business environment.”

Recently, former congressman and Trump loyalist Matt Gaetz has also offered that rescheduling is ‘on the horizon’.

Dealer’s Choice

A new report from the CDC breaks down federal data on use among thousands of U.S. adults. Smoking remains the most common form of consumption and edibles, vaping and dabbing are quickly growing in popularity.

Among users, most (79%) reported smoking, followed by eating (42%), vaping (30%) and dabbing (15%). About half of all adults who consume cannabis (47%) reported multiple methods of use, most typically smoking and eating, or smoking and vaping.

Bare Bones

North Carolina lawmakers proposed nine bills this year that seek more regulation on the sale and purchase of hemp-derived gummies, drinks and vaping products. The latest would make it illegal for shops to sell hemp consumables without a permit, and illegal for people under 21 to buy them

Stocks & Stuff

The volatility continued on Wall Street as stocks closed higher, albeit well off their best levels. Cannabis continued to grind in the absence of news, or much volume to speak of. MSOS closed off a percent, on all of $6M total notional.

Below, we’ll top-line sector news, share a few views, check on the charts, gain fresh perspective on the tariff tussle, and see why a Nobel prize-winning economist knows the only way forward is to free the plant.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $6M

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