💸 The Tape

In what can only be described as a bureaucratic twist worthy of a government sitcom, the National Institute on Drug Abuse (NIDA) has quietly stopped ordering its research marijuana from the University of Mississippi—and the culprit? A Trump-era directive from the Department of Government Efficiency, or DOGE (yes, really).

The decision stems from a cost-cutting executive order that required a review of all federal contracts to trim the fat. And apparently, NIDA decided that its long-running relationship with Ole Miss was looking a little…puffy.

But before anyone panics: NIDA insists it still has plenty of weed in stock, and researchers can continue accessing cannabis from the existing supply, which should last through 2025. The contract with Ole Miss remains in place until 2028—it’s just no longer getting new orders.

Now, here’s where it gets sticky. Ole Miss has long held a monopoly on federally sanctioned research cannabis, despite criticism that the product was more “dirt weed” than pharmaceutical grade. Researchers like Dr. Sue Sisley have been vocal, claiming the government-grown pot wouldn’t pass muster in even the loosest state-legal market. Her verdict on the DOGE directive? “Brilliant move.”

Meanwhile, seven other DEA-approved growers are ready to step in. Companies like Maridose and Royal Emerald Pharmaceuticals say they’re prepared to supply high-quality research cannabis that actually resembles what patients use in the real world. Some even called Ole Miss’s product “irrelevant” and “unsuitable for pharmaceutical development.”

Still, not everyone’s lighting up in celebration. Maridose issued a statement warning the decision “could jeopardize ongoing clinical studies” if the current supply runs dry.

The reality? The demand for research cannabis remains low, largely due to cannabis’s Schedule I status, limited federal funding, and maddening regulatory hurdles. Even DEA-licensed growers say the real choke point isn’t supply—it’s that there’s barely any new research to begin with.

As Sisley put it: “Let the rest of us finally have a crack at this.” And with NIDA’s inventory still stacked and rescheduling talks dragging on, it seems the torch may finally be passing—from a government monopoly to a more competitive (and hopefully higher-quality) cannabis research ecosystem.

📈 Dog Walkers

$CRLBF ( ▲ 9.91% ) Cresco Labs Announces Restructuring

What’s Going On Here: Cresco Labs (CSE: CL) (OTCQX: CRLBF) is officially packing its bags in California. The MSO announced a strategic exit from the Golden State as part of a broader effort to tighten its balance sheet, boost cash flow, and double down on high-margin, high-growth markets.

The planned divestiture includes cultivation, manufacturing, and select distribution assets, though Cresco will keep hold of its premium FloraCal® brand, which it plans to continue marketing in other key U.S. markets. CEO Charlie Bachtell made it clear: California may be the world’s biggest cannabis market, but it’s also “structurally broken.” Between a bloated illicit market, fragmented retail, and margin-killing price compression, the state no longer fits Cresco’s long-term strategy.

“Capital is increasingly precious in this environment,” Bachtell said, hinting at a clear capital discipline shift. Rather than continue battling uphill in California, Cresco plans to reallocate resources to core and emerging markets where it has scale—and a clearer path to profitability.

Buyers are already in discussions, and the deal is expected to close over the next few quarters. One less MSO in Cali. One more example of strategic cannabis triage in 2025.

Missouri is Working Backwards

What’s Going On Here: Missouri is halfway through a massive cleanup operation: retroactively fingerprinting about 16,000 cannabis workers who slipped through the background check cracks between late 2022 and 2024. Since February, the Missouri Division of Cannabis Regulation has been playing regulatory catch-up—and it’s already made an impact.

The total number of active agent ID badges dropped from 21,132 in February to 18,737 in June, a decline of nearly 2,400. But here’s the kicker: only 17 revocations stemmed from actual disqualifying felonies. The rest? They just didn’t submit fingerprints—a bureaucratic self-own that can be reversed by reapplying.

This sudden retroactive enforcement is the result of a law passed in 2023, restoring mandatory fingerprint checks for all cannabis workers, owners, and volunteers. Thanks to federal approval delays, it wasn’t until October 2024 that the state got FBI clearance to run the checks.

Now, anyone with a badge issued between Dec 2022 and Dec 2024 is on the hook to submit fingerprints or face revocation. And with cannabis businesses relying on speed-to-hire, the turnaround time has jumped from 48 hours to 7–10 days—a necessary slowdown, say industry vets, to protect workers and weed from bad actors.

🗞️ The News

📺 YouTube

Biggest Cannabis Developments This Week – Will Trump Deliver on Rescheduling? | TTB Weekly Recap

What we will cover:

✅ This week’s TDR Trade To Black Cannabis News Recap powered by Dutchie includes political drama, corporate moves, and a major real estate takeaway you’ll want to hear.

First up—Ricky Williams is back in the headlines, pushing cannabis rescheduling under Trump. The former NFL star met with officials from Agriculture, HUD, Energy, and the White House Counsel’s Office, calling cannabis a “game-changer” for jobs, small business, and equity. Trump ally Bruce Levell says the Biden administration failed on rescheduling but hinted Trump is ready to “deliver.” Still, the DEA remains stalled, raising questions about whether this is real reform momentum—or just political theater.

Meanwhile, Mike Tyson and other athletes are pushing Trump directly, asking for banking reform, rescheduling, and broader clemency for cannabis offenses.

In Florida, Governor Ron DeSantis is doubling down on anti-cannabis politics, rejecting Joe Gruters for a key post over his support for last year’s failed adult-use ballot measure.

And in Pennsylvania, lawmakers filed bipartisan legalization bills, hoping to catch up to neighboring states profiting from cross-border cannabis sales. But with a GOP-controlled Senate, the timeline is uncertain.

On the enforcement front, a tragedy in California: farm worker Jaime Alanis died after falling through a roof during an ICE and CBP raid at Glass House Farms, sparking protests as the company simultaneously closed a $77.5M refinancing deal.