💸 The Tape

The cannabis sector’s looking to hire a new quarterback—and his name just might be Donald Trump. In a wide-ranging chat, lobbyist and longtime GOP strategist Brian Lanza details why medical marijuana advocates are buzzing with cautious optimism. It seems Trump, no stranger to shifting party lines, quietly flashed the green light on federal medical cannabis reform during his campaign. For the first time, advocates see a real chance to unify the fractured industry and push for a federal thumbs-up on medical use.

But here’s the rub: factions in cannabis—like the U.S. Cannabis Council and a laundry list of other trade groups—have never quite harmonized their messaging. Without a singular vision, it’s tough to rally staffers and politicians on the Hill. Big Pharma, meanwhile, looms like the ultimate short-seller, ready to leverage its political clout to keep the status quo. Yet, if the marijuana sector can bundle its capital and speak with one voice—complete with a super PAC—a Republican-led administration might actually move the ball forward.

The roadmap, Lanza says, looks a lot like any well-orchestrated campaign: define the steps, prioritize medical reclassification, bring everyone to the table, and hold the new president accountable on the issue he’s signaled he’s open to. Expect serious battles: the DEA, Health and Human Services, and lobbyists entrenched in old-school pharma thinking won’t go quietly. But within a four-year window, a stepped strategy—medical first, broader legalization later—could turn this slow burn into a roaring fire.

The “call to arms” for cannabis interests is clear: unify, fundraise, and communicate. The incoming administration might be the friendliest Republican stance on weed to date. And, if the industry can seize this momentum, investors could finally see America’s $100 billion cannabis opportunity fully unlocked—one executive order and piece of legislation at a time.

📈 Dog Walkers

The People Of Tennesee Have Spoken

Tennessee’s latest poll numbers indicate a bullish outlook on marijuana reform, with 63 percent of voters—spanning Republicans at 53 percent and Democrats at 78 percent—favoring legalization. Compared to May’s results, support gained a few percentage points, though margin of error leaves room for nuance. Policy misalignment is hitting a fever pitch, as state lawmakers remain stuck on outdated controls like a 0.9 percent THC medical program and hemp bans. Meanwhile, heavy-handed policing draws federal scrutiny for racially skewed marijuana arrests, prompting the DOJ to spotlight disparities not justified by usage rates. With lawmakers reluctant to budge and public sentiment trending upward, the market potential remains tantalizing. Investors, take note: If Tennessee eventually joins the legal cannabis fold, expect a surge of green in the Volunteer State.

Tilray Doubles Down On D9 Mocktails

Tilray Brands is shaking up the zero-proof cocktail world with Herb & Bloom—an Art Deco-inspired beverage line infusing a retro vibe into modern-day sipping. Each effervescent drink packs a subtle 5mg dose of hemp-derived Delta-9 THC, promising a smooth, refreshing kick without the dreaded morning-after regrets. Three classic flavors go glam: A citrusy Margarita sweetened by a mint or rosemary flourish, a Strawberry Daiquiri channeling that timeless beach-bar aura, and a sweet-as-sunshine Peach Bellini. The packaging alone will have aesthetic aficionados swooning, while the fruit-forward blends aim to delight THC-curious consumers. Best part? Tilray’s not stopping there. Expect a 10mg version to drop soon in select markets—because when you’re leading the next wave of elevated beverage trends, incremental innovation is your ticket to market share.

🗞️ The News

DEA Asks Judge To Issue Subpoenas Forcing FDA Officials To Testify At Marijuana Rescheduling Hearings

'Free the Weed;' SC Cannabis Coalition announces third annual rally at Statehouse

Cannabis stakeholders seek tax changes as they struggle

New York marijuana regulators to ponder “limit” on retail licenses

📺 YouTube

What's Next for Psychedelic Leader Cybin in 2025? | TDR Small Cap Sunday

What we covered:

✅ On our latest Small Cap Sunday podcast at 8pm EST, we shift our attention to the psychedelics space to do a deep dive on industry leader Cybin (NYSE: CYBN).

Cybin Inc., a leading psychedelic company, has had an eventful 2024. With partnerships with top research institutions, expansion of Phase 2 trials, and innovative drug formulations, Cybin is making strides in mental health therapeutics. Their current focus includes the Phase 3 PARADIGM™ program CYB003’for treating Major Depressive Disorder, a substantial market opportunity.

The company's strong financial position, with a cash reserve of C$209 million and C$285 million raised over the past year, supports their upcoming trials. Challenges such as regulatory hurdles and market volatility persist, but strategic partnerships and upcoming Phase 3 trials position Cybin for a promising 2025.

Investors are hoping for regulation and further research announcements from the government that will equate to growth as the psychedelic industry continues to evolve.