💸 The Tape

Florida’s cannabis legalization efforts are back for round two. After falling just short of the required 60 percent threshold in 2024, the Smart & Safe Florida campaign has retooled its initiative for another attempt in 2026. The revised proposal, dubbed “Adult Personal Use of Marijuana,” aims to address concerns that critics raised during the last campaign—particularly around public consumption and market monopolization.

The 2024 measure did secure majority support, but Florida’s constitutional amendment process demands a supermajority. Undeterred, advocates, with the backing of cannabis industry powerhouse Trulieve, wasted no time in refining their approach. The new proposal now explicitly bans smoking and vaping marijuana in public places—a direct response to Governor Ron DeSantis’s repeated objections. The legislature would also be tasked with regulating the time, place, and manner of public consumption, presumably to assuage concerns about Florida’s beaches turning into cannabis-friendly retreats.

Another key revision involves preventing the sale of marijuana products designed to attract children. The 2024 campaign faced criticism over fears that edibles could be marketed in ways reminiscent of candy. The updated language seeks to dispel those concerns and reinforce the campaign’s commitment to responsible regulation.

Perhaps the most notable tweak is the clarification regarding home cultivation. While the original amendment was silent on this issue, the new measure makes it clear that the legislature retains the authority to allow home growing. This addition could help win over skeptics who worried that legalization would disproportionately benefit large corporations while leaving individual users without personal cultivation rights.

The initiative also addresses fears of a cannabis industry monopoly. The previous version merely stated that lawmakers weren’t prohibited from granting new licenses, leaving ambiguity about whether new players could enter the market. The 2026 version takes a more proactive stance, requiring legislators to create a licensing framework for non-medical cannabis businesses. However, there’s no guarantee of a flood of new licenses—just a promise that the infrastructure will be in place.

Despite these refinements, the political landscape remains a challenge. DeSantis was one of the most vocal opponents of the 2024 measure, and his stance is unlikely to soften. Attorney General Ashley Moody, who previously attempted to block the initiative in court, may once again try to derail it. The 2026 effort also faces a midterm election, where turnout skews more conservative, potentially making the 60 percent hurdle even steeper.

Money will continue to play a significant role. In 2024, Smart & Safe Florida raised over $150 million, largely bankrolled by Trulieve. Opponents weren’t far behind, with right-wing influencers and political committees pulling in hefty sums to fight legalization. The upcoming campaign will likely see another financial arms race, with ad blitzes and political maneuvering shaping public perception.

Polling has consistently shown strong majority support for legalization in Florida, often hovering just below the crucial 60 percent mark. Whether the 2026 revisions are enough to push it over the edge remains uncertain. The battle for cannabis reform in Florida is far from over, but advocates are banking on the idea that second time’s the charm.

📈 Dog Walkers

Avengers Assemble

The cannabis industry is finally getting its political act together. With the formation of the U.S. Cannabis Roundtable, America’s largest legal cannabis companies are pooling their resources to break the bureaucratic stalemate on federal marijuana reform. The new powerhouse advocacy group merges the U.S. Cannabis Council and the National Cannabis Roundtable, representing a sector that employs nearly half a million people and operates 13,000 dispensaries across 38 states. Charlie Bechtell, CEO of Cresco Labs, is at the helm, backed by industry heavyweights like Curaleaf, Trulieve, and Green Thumb. Their mission? Push cannabis reclassification to the more palatable Schedule III and finally secure banking reform. With Trump returning to the White House and Elon Musk, Joe Rogan, and RFK Jr. all whispering pro-cannabis sentiments in his ear, the industry is banking on a green wave.

Avicanna Inks Major Partnership

Avicanna Inc. (TSX: AVCN) is making power moves in the medical cannabis space, teaming up with Vectura Fertin Pharma to crack the code on patient access in Canada. The duo is launching a Scientific and Medical Affairs Committee, bringing together healthcare pros to advance cannabis research and craft evidence-based education. Think of it as a market-moving alliance aimed at smoothing regulatory wrinkles and unlocking new demand. Beyond just research, this partnership is tackling real-world barriers—engaging with insurers, advocacy groups, and patients to get the full picture. Avicanna’s Mymedi.ca platform will be a key tool in improving access and patient support, setting the stage for a more integrated, science-backed approach to cannabinoid-based medicine. Translation? Smart money is watching.

🗞️ The News

People Are More Physically Active On Days They Use Marijuana, New Federally Funded Study Shows, Smashing ‘Lazy Stoner’ Stereotype

Avicanna Announces Scientific and Medical Affairs Collaboration with Vectura Fertin Pharma

Indiana Republicans introduce bill to legalize recreational marijuana

📺 YouTube

The Cannabis Conversation Is Primed For Donald Trump To Take Office | Trade to Black

What we covered:

✅ On our latest Trade To Black podcast, Shane Pennington, will join us to shed light on ALJ Hearing Judge John Mulrooney's ruling from earlier this week, which included cancelling next week's DEA hearing for the rescheduling of cannabis.

Though not the short-term news that many cannabis supporters wanted to hear, is this cannabis rescheduling ruling actually better long-term for the growth of the marijuana industry?