💸 The Tape

Jimmy Carter once attempted to give cannabis an image makeover—think of it as a progressive, ‘buy-low, sell-high’ approach to America’s outdated drug laws. When Carter took office in 1977, the vibe was somewhat bullish on loosening marijuana penalties, with economists and policymakers suggesting the nation could save resources by decriminalizing small amounts of pot. Carter even told Congress that minor marijuana infractions shouldn’t carry major consequences, hoping to redirect law enforcement to bigger fish.

But despite the early optimism, the market for reform went from bullish to bear territory rather quickly. Enter Dr. Peter Bourne, Carter’s chief drug policy advisor, who resigned after revelations about cocaine use at a party. Let’s just say you can’t exactly lead the charge for decriminalization when your spokesperson’s caught dabbling in harder substances. With that scandal, Carter’s credibility on drug issues sank faster than a penny stock in a market correction.

Meanwhile, the broader political environment shifted into high gear on the so-called “war on drugs.” Parent groups, conservative lawmakers, and law-and-order advocates threw up strong resistance, insisting that leniency would spawn an avalanche of youthful indulgence. Translation? Decriminalization became the policy equivalent of a stock that no one wanted to touch.

Adding insult to injury, Carter’s attention was diverted to other pressing “crisis stocks,” including skyrocketing inflation, energy turmoil, and the Iran hostage situation. With little congressional support to anchor the initiative—and Carter’s political capital draining—the proposal effectively bottomed out. Ultimately, the administration left office having decriminalized exactly zero ounces of marijuana at the federal level.

In hindsight, Carter’s cannabis push resembled a once-promising initiative that never quite panned out—great idea on paper, but battered by scandal, overshadowed by competing priorities, and throttled by a souring public mood. While Carter opened the conversation, the initiative never left the starting blocks.

📈 Dog Walkers

Trulieve 2025 Presentation Is Live

Trulieve is lifting the curtain on 2025, unveiling an ambitious outlook that’s equal parts roadmap and pep talk. The cannabis retailer is bullish on new stores, a stronger product lineup, and maybe a strategic acquisition or two. While competitors brace for another volatile year, Trulieve’s keynote signals confidence in capitalizing on opportunities, not just weathering the storm ahead and beyond.

NY Is Now Going Backwards

A New York Democrat introduced two bills that curb cannabis: one caps THC at 15% in flower and 25% in products; the other bans consumption within 30 feet of any minor’s residence. Violations mean Class B misdemeanors, potential jail time, or fines. Proponents say it protects kids from secondhand smoke, while critics call it creeping prohibition and questionable legislative overreach.

Major Implications For Florida

Florida’s Fifth District Court of Appeal just shook up the law-enforcement market: a drug dog alert no longer guarantees probable cause if it can’t separate medical marijuana from illicit pot. The bottom line? Police might need more ‘due diligence’ before searching cars. Dogs that sniff “weed” alone might step on legal territory. Welcome to the new complexity.

🗞️ The News

Cannabis Store Operators Call for Loan Forgiveness

New York Democrat Files Bills To Restrict THC Potency In Marijuana And Ban Consumption Within 30 Feet Of Children

DoorDash Will Now Deliver Hemp CBD And THC Products In Response To ‘Growing Demand’ To Help Customers ‘Unwind And Recharge’

Florida judges rule police dogs trained to alert on cannabis can’t be the only reason used to justify a vehicle search

Cannabis industry relief efforts underway as wildfires rage across Los Angeles area

📺 YouTube

Former Cresco Co-Founder Reveals Cannabis Plans to Trump

What we covered:

✅ On our latest Trade to Black podcast, former Co-Founder of Cresco Labs (OTC: CRLBF) Joe Caltabiano joins us to share how his recent one-on-one meeting with U.S. President-Elect Donald Trump went earlier this week.

He’ll share some of the topics that were discussed, including the cannabis industry, whether or not Donald Trump will support it, and if banking legislation will happen for the industry, which would attract institutional money for marijuana stocks.

Joe Caltabiano is a prominent figure in the cannabis industry, known for co-founding Cresco Labs, one of the nation's leading multi-state operators. Before entering the cannabis space, he had a successful career in mortgage banking, where he was listed among the top 100 loan officers for 10 consecutive years. Caltabiano led Cresco Labs through numerous multimillion-dollar fundraising rounds and launched the Sunnyside retail brand. He is also a passionate philanthropist, supporting cancer research and patient care organizations. Currently, he is the Founder of JSC Fund, a special purpose acquisition company targeting acquisitions in the cannabis sector.