Make America Well Again

The people are speaking and the time is right.

Daily Recap

A coalition of sports stars and entertainers sent a letter to the White House urging President Donald Trump to enact cannabis reform.

The group was headlined by boxing legend Mike Tyson, NBA superstar Kevin Durant, former NBA star Allen Iverson, former boxer Roy Jones Jr., former Dallas Cowboy Dez Bryant, former NFL player Ricky Williams and award-winning musician Wyclef Jean.

The letter highlights three proposed reforms consistent with the campaign pledges made by President Trump: Clemency for nonviolent cannabis offenders, support for cannabis rescheduling and ending "discriminatory banking practices."

"Today, people continue to serve lengthy federal sentences for conduct that is now legal in most states, which makes their incarceration not only cruel but absurd.

After making sweeping promises in 2020, former President Biden failed to deliver on his pledge to address cannabis-related injustices… This betrayal underscores the urgent need for bold leadership and it represents an opportunity to correct glaring disparities as part of your Administration’s ongoing push for criminal justice reform."

Dollars and Sense

Congress will return to long-awaited, key cannabis industry priorities such as banking protections but SAFER Banking had to wait until Congress passed President Trump’s One Big Beautiful Bill—which is now ✅.

“In my mind, we have a really good opportunity to get SAFE Banking done during this Congress. It’s the best opportunity we’ve ever had.” USCR’s David Culver

The Democratic Senate sponsor of the banking bill, Sen. Jeff Merkley (D-OR) told Marijuana Moment that despite efforts to hold meetings on the legislation, other priorities took precedence, and he’s hopeful it’ll be taken up “sooner than later.”

Study Hall

Researchers in a federally funded clinical trial write in a new article in the American Journal of Medicine that further study into cannabis is of “critical importance” given the millions of patients and consumers in legal states—but warn that government restrictions “stifle scientific exploration of its potential and risks.”

Classifying cannabis as a Schedule I substance, write authors from the University of Maryland schools of medicine and nursing, “traps researchers in a paradox: proving medical value requires studies, yet studies are heavily restricted.”

Mahalo

Hawaii’s sagging medical cannabis market is set to expand after the governor signed a bill into law that allows for more qualified patients and for dispensaries to sell more products. It’s a welcome boost for Hawaii cannabis given adult-use legalization failed again this spring.

There’s a unique twist: The bill’s language also allows MMJ dispensaries to sell “hemp products.”

Stocks & Stuff

The fireworks faded on Wall Street after holiday-infused patriotism jacked mainstay averages through all-time highs. At a bare minimum, those breakout levels will likely be retested at a point, a process which may have begun today.

Canna? Pay-no-mind-ish; flat and listless on light volume, sans news.

Below, we’ll look ahead to 2H25 and why some observors are quietly excited to see some catalysts, chew through a few unlikely allies, talk about whether the current POTUS can succeed where his predecessor failed, offer up some random thoughts, and check a few charts that have been perky up of late.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional:

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