💸 High Impact

Trump Rubber Stamps Amendment 3

In a state known for its sun, sand, and retirees, a different kind of “green wave” might be on the horizon. Yes, folks, Florida is inching closer to joining the ranks of marijuana-legal states, and this time, a key player is adding some extra flair to the political saga: Donald Trump. If recent polling data is to be believed, Florida could soon become a hotspot not just for beaches but for legal cannabis enthusiasts.

Let’s dive into the numbers. The latest poll shows that a majority of Floridians are ready to light one up—legally, of course. Over 60% of respondents expressed support for a ballot initiative aiming to legalize adult-use marijuana in the state. That’s more than enough to clear the 60% threshold required to pass a constitutional amendment in the Sunshine State. So, barring any last-minute surprises (and this is politics, so never say never), the odds look strong that 2024 might usher in a new era of legal cannabis for Floridians.

Now, you might be wondering—what’s driving this sudden surge of support? One answer could be shifting demographics. As younger voters, who typically favor legalization, increasingly shape the electorate, it’s not shocking that weed is gaining traction. But another significant factor in this green equation is none other than Donald J. Trump.

That’s right. The man who spent four years in the White House throwing policy curveballs is now openly backing federal marijuana reform, a move that could have a trickle-down effect on state initiatives like Florida’s. Trump’s endorsement is nothing to scoff at—especially in a state he calls his second (or third?) home. With such a polarizing figure giving the nod to cannabis reform, it could galvanize a swath of his base to embrace an issue they might otherwise have dismissed.

What does this mean for the financial outlook of Florida’s budding (pun intended) cannabis industry? Simply put, a lot. Legalization could open up an industry projected to be worth billions in the state. Companies already involved in the medical marijuana space are salivating at the potential expansion, while new entrants are likely preparing to swoop in, eager to capitalize on the growth.

From a broader economic perspective, legal cannabis could generate a hefty boost in tax revenue—something every state can get behind. And while the industry would initially face high regulatory hurdles, the long-term potential is clear: jobs, revenue, and a booming tourism sector (because who doesn’t want a vacation with a side of legal edibles?).

📈 Dog Walkers

Verano Expands Ohio Footprint

Verano Holdings Corp. is bringing a new Zen Leaf dispensary to Antwerp, Ohio, marking the village’s first marijuana dispensary. Located near the Indiana border and Fort Wayne metro area, this dispensary will be housed in the historic Antwerp Norfolk & Western Rail Depot, a building dating back to 1880. The village council approved the sale of the depot for $500,000 after a tie-breaking vote from the mayor. The dispensary, Verano’s sixth in Ohio, promises economic benefits like job creation and tax revenue, which could help fund local projects like Antwerp's water plant improvements.

Cookies Inks Major CBD Deal

The University of Southern California (USC) Athletics has announced a groundbreaking partnership with Cookies, a well-known cannabis brand, marking the first collaboration of its kind between a major athletic department and a cannabis company. The partnership aims to raise awareness about cannabis, particularly around wellness and recovery for athletes. This move reflects the growing acceptance of cannabis in mainstream sectors, including sports. The collaboration will likely open doors for further cannabis-related partnerships in the sports world, blending athletics with evolving cannabis culture.

The Beer Lobby Backs Hemp Ban

California Governor Gavin Newsom’s crackdown on THC-infused hemp products has earned a round of applause from the beer industry. The California Craft Brewers Association sees this as a win for proper regulation, arguing that unregulated hemp products pose risks to consumers and undercut regulated cannabis and alcohol markets. By closing loopholes, the new measures aim to level the playing field while keeping public safety in mind. For brewers, it's all about keeping competition fair and ensuring that intoxicating products play by the same rules.

🗞️ The News

University of Southern California Athletics and Cookies Announce Groundbreaking Partnership

Cannabis company plans to open Antwerp dispensary in ‘near future’

Beer Industry Trade Group Applauds California Governor’s Crackdown On Hemp Products With THC

Has Donald Trump Doubled Down On Cannabis?

Cansortium Announces Shares for Debt Settlement

Harris Campaign Accuses Trump Of Lying About Marijuana Reform Support, But Again Declines To Detail Her Own Platform

📺 YouTube

Donald Trump Doubles Down on the Cannabis Industry

What we covered:

✅ On our latest Trade To Black podcast today at 4pm EST, both Shadd Dales and Anthony Varrell will be joined with Sunburn Cannabis CEO & Washington Cannabis Correspondent Brady Cobb to discuss Donald Trump's latest post on his social media platform Truth that continues to support the cannabis industry.

In the post the 45th US President outlined that he believes now is the time to end arrests and incarcerations of adults for small amounts of marijuana for personal use, and as a Floridian, he will be voting YES on Amendment 3 this November for the upcoming US Federal Election.

From the cannabis space we then switch to the mental health industry, where atai Life Sciences (NASDAQ: ATAI) Founder & Chairman Christian Angermayer joins us to shed light on the recent announcement made last month by the FDA and their decision to decline approval of novel MDMA therapy for treating PTSD, as submitted by Lykos Therapeutics.

Since then the industry has left many investors feeling uncertain on whether or not many of the current research trials will also be declined, and how big pharma is currently viewing the industry as a whole moving forward.