💸 The Tape

The White House would like everyone to know that Year One of President Donald Trump’s return to office has been productive. Very productive. In fact, according to a glossy new post titled “365 Wins in 365 Days”, the administration says it has delivered a full calendar’s worth of accomplishments—one per day, presumably with weekends off only in theory.

Tucked neatly into that victory lap is cannabis rescheduling.

Under the “Making America Healthy Again” section, the administration counts President Trump’s executive order directing marijuana’s reclassification from Schedule I to Schedule III as a completed win, framing it as a move that will “accelerate medical research and patient access.” In political messaging terms, it’s clean, efficient, and optimistic. In legal reality, it’s… aspirational.

To be clear, the executive order is meaningful. It formally instructs the Department of Justice to finish a rescheduling process that has been stuck in bureaucratic amber since the Biden administration kicked it off. It also sends a powerful political signal: a Republican White House acknowledging that marijuana does not belong in the same category as heroin. That alone is a sea change.

But calling rescheduling a done deal is a bit like spiking the football while the referee is still reviewing the play.

The executive order does not itself move marijuana to Schedule III. That authority rests with the Department of Justice, acting in coordination with the Department of Health and Human Services. Until DOJ publishes a final rule in the Federal Register—and that rule survives the inevitable legal and procedural scrutiny—marijuana remains, legally speaking, right where it started.

Sources indicate President Trump has urged Attorney General Pam Bondi to finalize the rule by the end of January, and insiders suggest publication could come any day now. If and when that happens, the real impacts begin: the end of 280E tax penalties, expanded research pathways, and a regulatory framework that finally resembles modern science rather than 1970s fearmongering.

Until then, the administration’s “win” exists in a provisional space—important, encouraging, but incomplete.

This distinction matters. Markets are already reacting, companies are planning, and lobbyists are sharpening their knives. But without a ratified Schedule III rule, institutional capital, federal agencies, and courts will continue to treat cannabis as a legal question mark rather than a settled policy shift.

In short: the White House deserves credit for starting the clock. But until DOJ stops it with a final signature, rescheduling remains a promise in motion—not yet a trophy on the shelf.

📈 Dog Walkers

$JUSHF ( ▲ 3.57% ) Opens A New Door In Ohio

Jushi Holdings Inc. announced the grand opening of its Beyond Hello™ Northern Cincinnati dispensary, further expanding its footprint in one of the company’s most important growth states. Located at 12140 Springfield Pike in Cincinnati, the new store officially opened on January 8, 2026, becoming Jushi’s seventh dispensary in Ohio and its 43rd retail location nationwide.

The Northern Cincinnati location joins existing Beyond Hello™ dispensaries in Parma, Toledo, Oxford, Warren, Mansfield, and another Cincinnati-area store. Strategically positioned along the Springfield Pike corridor, the dispensary is designed for convenience, offering easy access for commuters and residents across the greater Cincinnati region, ample parking, and a clean, modern retail layout.

Customers can browse and reserve products online for in-store pickup at beyond-hello.com, with a broad menu that includes flower, vapes, concentrates, edibles, and wellness-focused cannabis products. As with other Beyond Hello™ locations, trained staff will focus on education, personalized guidance, and a welcoming customer experience for both medical patients and adult-use consumers.

To mark the opening, the store will roll out grand opening promotions beginning January 23, 2026.

Jushi CEO and Founder Jim Cacioppo emphasized Ohio’s importance to the company’s long-term strategy, citing the state’s strong medical program and rapidly developing adult-use market. In addition to retail expansion, Jushi continues to grow its vertically integrated presence in Ohio through in-house cultivation and manufacturing, supporting brands such as Hijinks, The Bank, SeCHe, The Lab, and Tasteology.

$CURLF ( ▼ 2.02% ) Expands In Maine

Curaleaf Holdings has expanded its retail footprint in Maine with the opening of a new adult-use cannabis store in Bangor, located adjacent to its existing medical dispensary at 829 Hogan Road. With this addition, Curaleaf now operates five retail locations in Maine and 161 stores nationwide.

The Bangor location, situated near the Bangor Mall and surrounding hotels and restaurants, has served medical cannabis patients since 2021. Following recent upgrades, Curaleaf has now opened a separate adult-use dispensary next door, allowing the company to serve both patient and adult-use consumers in parallel. The medical dispensary is located at Unit 38, while the new adult-use store operates out of Unit 46. Both locations are open seven days a week from 10:00 a.m. to 8:00 p.m. ET.

Adult-use customers aged 21 and over will have access to Curaleaf’s full product portfolio, including flower, pre-rolls, vapes, and edibles. Featured brands include Grassroots Dark Heart Collection flower, Find Flower & Pre-Rolls, Select BRIQ all-in-one vapes, and B Noble pre-rolls, offering a mix of established favorites and approachable options for new consumers.

Chairman and CEO Boris Jordan noted that the opening reflects Curaleaf’s broader mission to expand access to regulated, high-quality cannabis while maintaining strong support for medical patients. In Maine, the company continues to operate dedicated medical dispensaries in Bangor, Ellsworth, Auburn, and Wells, providing patient-focused resources, discounts, and personalized service alongside its growing adult-use presence.

🗞️ The News

📺 YouTube

What Schedule III Could Really Trigger Across Cannabis | TTB Powered by Flowhub

What we will cover:

✅ Trade to Black presented by Flowhub returned with hosts Shadd Dales and Anthony Varrell for a timely conversation focused on where U.S. cannabis policy, capital markets, and regulatory expectations stand right now. Joining the show is Marc Cohodes, veteran investor, former hedge fund manager, and longtime participant in the cannabis sector.

It has now been more than a month since President Trump signed the executive order directing cannabis rescheduling, yet the industry is still waiting on formal action from Attorney General Pam Bondi. Marc breaks down what that delay could signal, how policymakers in Washington are viewing the timeline, and whether the lack of movement itself is creating unintended consequences across the market.

The discussion also looks at how Big Pharma and Big Alcohol are positioning themselves as the possibility of Schedule III becomes more concrete, and what that could mean for operators, competition, and long-term market structure. Marc shares his perspective on whether uplisting becomes more realistic post-rescheduling, how lawmakers are thinking about FINRA, and whether changes to federal classification could reduce the importance of SAFER Banking as a near-term catalyst.