Daily Recap
President Donald Trump nominated Terry Cole to serve as the next DEA administrator, replacing Acting Administrator Derek Maltz Sr. He’s a decades-long agency veteran who has previously voiced concerns about the dangers of cannabis and linked its use to higher suicide risk among kids.
Cole’s nomination comes as the agency continues a process that could lead to canna being rescheduled to Schedule III under the Controlled Substances Act, away from its current status as a Schedule I drug, alongside Heroin, Cocaine, LSD and Ecstasy.
The Trump-> Bondi-> Cole trifecta should continue to 🎯 Fentanyl insofar as DJT has already made his canna views known and while he hasn’t touched on the topic since September, here’s a Truth to socialize: there was no way for this issue to progress—for this promise to fulfill—until the AG, DEA admin and HHS Secretary were/ are in place.
ICYMI the first time, given it was five months ago, here’s where the big man stands…
There aren’t any executive orders that would be a magic pill for U.S. cannabis, only administrative steps that first require staffing and/or a congress that wishes to deliver on the mandate of their President, as General Bondi seems hell-bent on doing.
Super Majority
Nearly 7 in 10 American marijuana consumers say they plan to spend more or about the same amount in 2025 compared to last year—and 62% report using cash amid ongoing industry barriers to financial services, according to a new poll.
The survey analyzed market trends for people who reported using six different vices, including cannabis, alcohol, tobacco, lottery tickets, casino games and sports betting.
Big, if True
A DEA official, speaking on the condition of anonymity, told Marijuana Herald the agency is still moving forward with rescheduling cannabis, despite delays that have raised concerns from industry watchers. While the claim couldn’t be independently confirmed, the source described the process as “delayed, but certainly not dead.”
Barbie Cue
Outside of North America, cannabis investors and business owners tend to focus on Germany, Poland and the UK as the major growth drivers. However, one market has the potential to outgrow them all.
Australia’s medical cannabis revenue is expected to grow from around $600M in 2024 to more than $1.2B by 2028, according to Prohibition Partners. For comparison, MMJ sales for all of Europe are projected to reach $2.2B by 2028.
Stock & Stuff
The ready-fire-aim mindset continued in Cannaland as the specter of a new DEA admin who quotes Nancy Reagan didn’t give investors the warm and fuzzies. U.S. cannabis ETF MSOS lost 4%, giving back it’s RFK-inspired gains from last week.
Below, we’ll synthesize the set-up, highlight a ray of sunshine in an otherwise stormy Cali market, dig deeper into Florida medical, and offer up the chart of the day.
All that and more, just scroll down.
SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $25M
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