💸 High Impact

Will The Real Kamala Harris Please Stand Up

Well, well, well. It seems former President Donald Trump has thrown a curveball no one saw coming—endorsing cannabis and Amendment 3, sparking a political frenzy. With this surprising move, Vice President Kamala Harris and the Democratic Party are suddenly facing a new, unexpected dilemma: how to navigate cannabis reform in a world where Trump has stolen the spotlight on what used to be a more predictable progressive talking point.

For a party that’s spent the last four years treading water on drug policy, Trump’s pro-cannabis stance is a wake-up call. Sure, Democrats have talked a big game about legalization, but let's be honest—the action has been less than impressive. Now, as the DEA announces a delay in the rescheduling of cannabis until December 2024, thanks to an Administrative Law Judge hearing, the heat is really on.

It couldn’t come at a worse time. The Democratic Party, led by Harris, has to figure out its next move. Are they going to double down on their cautious approach or pivot in a way that grabs the attention of voters who might be swayed by Trump’s newfound love for cannabis? Harris will need to show some political dexterity here, as Trump’s support for cannabis throws a wrench in what could have been a neat little campaign talking point for Democrats.

Let’s face it—the delay in rescheduling cannabis is only making this situation more complicated for Democrats. The longer the issue drags on without definitive action, the more it seems like the party is stuck in neutral, unable to deliver on promises of reform. And with Trump seizing the moment, there’s real pressure on Harris and her team to take control of the narrative before it’s too late.

The stakes? Pretty high. The question is whether the Democrats can find a way to use this unexpected political twist to their advantage, or whether they’ll fumble the opportunity, letting Trump corner the market on cannabis reform. It’s a tricky game, but one thing’s for sure: the cannabis debate just got a lot more interesting.

📈 Dog Walkers

Body and Mind Closes Ohio Processor Transaction

Body and Mind Inc. (BaM) has officially completed the sale of its Ohio cannabis processing facility through its subsidiary, DEP Nevada, Inc. The transaction, first announced in September 2023, involved selling all of its interests in the Body and Mind Ohio processor to LMTB, LLC for a total of $2 million in cash, received in early 2024. The sale of NMG OH P1, LLC, which operates the Ohio processor, marks a strategic shift for BaM, allowing the company to streamline its multi-state cannabis operations. The purchase price was subject to working capital and other customary adjustments.

AYR Wellness Secures Conditional Approval In VA

AYR Wellness just snagged conditional approval to serve as a pharmaceutical cannabis processor in Virginia’s Health Service Area 1, covering cities like Charlottesville and Fredericksburg. This opens doors for the company to cultivate, process, and sell medical cannabis products in a market of 1.5 million people. CEO David Goubert highlighted the importance of this underserved region, noting AYR's focus on long-term growth. Once the final permit is secured, AYR will tap into Virginia’s medical cannabis market, positioning itself for future expansion. A smart move for a company betting big on regulated cannabis.

🗞️ The News

AYR Wellness Secures Conditional Approval to Establish Vertical Medical Cannabis Operations in Virginia

Trulieve Opens Relocated Dispensary in Tucson, Arizona

CBD Vaginal Suppositories Improve Menstrual Pain And Lead To Lower Use Of Painkiller Drugs, New Study Shows

Trump’s Former Attorney General Says Biden Marijuana Rescheduling Move Is ‘Grossly Irresponsible,’ Calling Cannabis A ‘Gateway Drug’

High Tide Expands to 183 Cannabis Dispensaries in Canada

Cannabis Lawyer Eric Berlin Explains Rescheduling Timeline

📺 YouTube

Military Veteran Explains Why FDA Declined MDMA | Trade to Black

What we covered:

✅ In our latest Trade To Black podcast, Life Science Investor and Military Veteran Matthew “Whiz” Buckley, sheds light on the reasons behind the FDA's decision to decline approval of novel MDMA therapy for treating PTSD, as submitted by Lykos Therapeutics. In our discussion, we touch on various issues, including the trial's design, execution, and the choice of MDMA as the first primary compound for FDA submission, rather than plant-based compounds like Ibogaine and others. The trial garnered bipartisan support from 80 congressional members advocating for further studies on MDMA-assisted therapy for PTSD to accelerate access to treatment for veterans grappling with increasing suicide rates. However, the FDA ultimately determined that they require additional data, leaving many investors in the industry pondering what comes next in the short term.