💸 The Tape

If someone told you “medical cannabis for seniors” was a radical idea, The Commonwealth Project would raise an eyebrow—and possibly a joint (metaphorically speaking). At its core, the organization is pushing to reimagine how we care for aging Americans—by integrating cannabis-based therapies into senior health care, especially via Medicare Advantage frameworks.

What They Claim and What They Do

According to their platform, The Commonwealth Project points out a tension: most states now allow medical cannabis, and yet the federal system still classifies cannabis as a Schedule I drug. That contradiction stymies serious research and medical adoption.

That’s where this group steps in. Under the leadership of Howard Kessler, a serial entrepreneur in the medical cannabis space, the Project is focused on Massachusetts (for now) and aims to pilot a holistic integration of cannabis treatment in the senior-care ecosystem, using existing Medicare Advantage networks. Their goal? Gather “real world data” on dosing, usage, outcomes, and ideally pave the way for clinical guidance and broader acceptance.

They supplement their pitch with data: seniors are reportedly the fastest-growing demographic of cannabis users, largely for medical reasons such as pain, insomnia, and anxiety. They also cite studies where prescription painkiller doses dropped in legalized states, projecting cost savings in health care.

Strengths & Ambitions

1. Timely relevance: The U.S. population over 65 is swelling. By 2050, that demographic shift is projected to rise by nearly 50%. Any proposal around senior health—and cost containment—is bound to get attention.

2. Data‐forward approach: Rather than just advocacy, they aim to pilot, measure, and generate evidence. That gives them more credibility (if executed well) than purely ideological campaigns.

3. Bridge-building intent: They’re not just preaching to the converted. Their method involves integrating with existing medical infrastructure (Medicare Advantage, provider networks), which can ease adoption if stakeholders see shared value.

4. Compelling narrative: The framing is empathetic — helping seniors navigate complex health challenges, reduce pill burden, improve quality of life — which resonates.

Risks, Gaps & Questions

• Regulatory headwinds: The federal classification of cannabis as Schedule I looms over everything. Even with state legal frameworks, research and clinical integration remain constrained.

• Evidence vs hype: The Project leans heavily on promising snapshots and correlational studies. Translating that into causality, reproducibility, safety, and standardized protocols is a tall order.

• Scalability & generalizability: Piloting in one state is one thing — making it function across diverse states, regulatory climates, provider networks, and patient populations is another beast.

• Skepticism and stigma: Old biases about cannabis die hard. Clinicians, payers, and regulators may remain hesitant. The Project needs to navigate perception as much as policy.

• Financial backing & sustainability: They state that the work is “paid for by HJK Medical Enterprises, LLC.” While that’s transparent, it raises questions about independence, funding streams, and long-term viability.

Final Thoughts

The Commonwealth Project is attempting something brave: positioning cannabis not as a fringe remedy but as a systematic, data-enabled component of senior health care. Their strategy—to pilot through Medicare Advantage networks, collect real-world evidence, and scale from there—is smart, if ambitious. But success will hinge on rigorous science, navigating federal legal constraints, and persuading skeptical medical stakeholders.

If they pull it off (or even make credible inroads), the ripple effects could be significant: fewer pills, better quality of life, and fresh debates over where cannabis truly belongs in mainstream medicine. But as with all first movers, there’s a fine line between being visionary and overpromising.

📈 Dog Walkers

Senator Moreno Is Bullish of SAFER

What’s Going On Here: Key Takeaways from Moreno’s Position

• Still aiming for 2025 action: Moreno reaffirmed that he wants to move the SAFER Banking Act in Q4, but he admitted the Senate calendar is crowded with must-pass legislation (government funding, NDAA, nominations).

• Trump’s rescheduling endorsement is a “domino”: Moreno acknowledged that the President’s support for cannabis rescheduling is significant, but noted the executive order has not yet been issued. He suggested that some colleagues may hesitate to support banking reform until rescheduling is official.

• Linkage of issues: His comments reinforce how marijuana banking reform and federal rescheduling are increasingly connected. Lawmakers may be more comfortable backing financial access once cannabis is moved to Schedule III (or lower).

Why It Matters

• Momentum is real, but fragile: The SAFER Act has bipartisan support, but it has stalled repeatedly in the Senate despite passing the House multiple times. Moreno’s commitment matters, but floor time is scarce.

• Rescheduling as political cover: If Trump finalizes rescheduling, it could unlock additional Republican votes for banking reform by addressing concerns about federal illegality.

• Year-end balancing act: Cannabis reform is competing with high-priority national issues. That means the SAFER Act is not dead, but it will need strong bipartisan pushes to avoid being punted into 2026.

Massachusetts Regulations In Limbo

What’s Going On Here: The Massachusetts Cannabis Control Commission (CCC) hit pause on finalizing its long-awaited social consumption regulations, pushing meetings to October 23–24 to give Chair Shannon O’Brien time to transition back into leadership.

O’Brien, first appointed in 2022, was suspended and later fired by Treasurer Deborah Goldberg in 2024 — but a court ruling this month found her termination unlawful and reinstated her through 2027. Her return has reshuffled the agency’s calendar, frustrating some equity advocates who say social equity businesses have been told to “wait yet again.”

The CCC’s draft framework would create three license categories:

• Supplemental – allowing existing cannabis operators to offer on-site consumption.

• Hospitality – enabling non-cannabis venues (like yoga studios or theaters) to host consumption.

• Event Organizer – for temporary cannabis use at festivals or rallies.

For the first five years, licenses will be restricted to equity applicants, microbusinesses, and craft cooperatives. If adopted, Massachusetts would join 10 other states with legal on-site cannabis use.

The CCC will hold two interim public meetings (Oct. 1 and Oct. 9) before returning to social consumption in late October.

🗞️ The News

📺 YouTube

Weekly Recap: Supreme Court Showdown Over Cannabis Gun Rights | TTB Weekly Recap

What we will cover:

✅ The TDR Trade to Black Weekly Recap presented by Dutchie covers the legal issue alongside other major developments. In Massachusetts, health data reveals cannabis-related ER visits for children under 13 nearly doubled in three years, with licensed operators pointing to the unregulated hemp gray market as the source of high-dose products packaged to mimic candy. California headlines come back-to-back: Governor Gavin Newsom signed AB 564 to pause a 25 percent excise tax hike through 2030, while enforcement teams in Mendocino County seized over 6,200 plants and uncovered banned pesticides at illicit sites.

Also this week, FinCEN released its first cannabis banking data update in years, showing suspicious activity reports nearly doubling since 2015 even as SAFE/SAFER Banking reforms remain stalled. In Virginia, regulators introduced a real-time seed-to-sale tracking system logging nearly $30 million in medical cannabis sales in its first two months, while Missouri backed away from a local hemp ban that leaves statewide regulation unresolved.

On the corporate front, High Tide (NASDAQ:HITI) expanded to 210 Canadian stores, Jushi Holdings (OTC: JUSHF) modified its FVCBank loan for added flexibility, and Grown Rogue (CSE: GRIN) took full ownership of its Illinois operations. Finally, earnings season approaches with Tilray (NASDAQ: TLRY), Curaleaf (TSX: CURA), and Verano Holdings (CBOE: VRNO) confirming dates, and Rubicon Organics (TSXv: ROMJ) set to present at investor conferences.