Under the Influencers

The MAGA crowd embraces rescheduling.

Daily Recap

Iron Mike Tyson continued his campaign to free the cannabis plant, posting on X and appearing on The Chris Cuomo Show to make his case. This time, however, a cadre of influencers, former politicians and presidential advisors offered vocal support.

As we enter 2H25, with the ‘Big Beautiful Bill’ behind us and the midterms starting to come into focus, the push to reform cannabis has taken on new life—and with nine-out-of-ten Americans in support of reform, the issue is ripe to swipe after years of broken promises and empty gestures by the Democrats.

We’ll dig into more of the who, what, when and where below the fold 👇

Sunshine Daydream

California is celebrating the golden anniversary of cannabis decriminalization, noting it was 50 years ago—on July 9, 1975—that Gov. Jerry Brown signed a law that reduced the state’s felony possession to a citable misdemeanor, punishable by a $100 fine.

More than a third of California adults are now cannabis consumers and the majority say that it provides significant health benefits, regardless of whether or not they are specifically using it for medical purposes.

Penn Mental State

Anxiety is the number one health condition that Pennsylvania patients use medical marijuana to treat, according to a new study.

Researchers with Johns Hopkins University assessed trends in more than 1.7M medical cannabis certifications from Nov. 2017 to Dec. 2023 and 1.6M registered patients were recommended medical marijuana for anxiety disorders.

Ruprecht Rejoices

Oklahoma cannabis activists cleared a key procedural hurdle, announcing on Tuesday that their legalization ballot initiative was not legally challenged during a designated window. They’ll begin gathering the signatures required to put the measure on the state’s 2026 ballot by August 6 “at the latest.”

Stocks & Stuff

It was a green day on Wall Street as equities lifted, yields softened, bitcoin set a new record high—even cannabis was stronger on both sides of the border. The U.S. canna ETF finished the session 6% higher—clearing the 100-day moving average—as Village Farms VFF 0.00%↑and Glass House broke out.

Below, we’ll top-line the latest happenings, chew through the sequence of events that have led us to this moment, speculate on what could come next, and see why, despite the fright, U.S. cannabis, and global canna, for that matter, remains a growth industry.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $20M

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