💸 The Tape

A landmark meta-analysis published this week in Frontiers in Oncology is shaking up the conversation around cannabis in cancer care. Touted as the largest review of its kind, the study evaluated 10,641 peer-reviewed papers—ten times more than any previous analysis—and found “overwhelming scientific consensus” supporting medical marijuana’s effectiveness for cancer-related symptoms.

“We expected controversy,” said lead author Ryan Castle of the Whole Health Oncology Institute. “What we found was overwhelming scientific consensus.” Castle’s team, in collaboration with The Chopra Foundation, uncovered what they described as a 3:1 ratio of supportive to non-supportive studies regarding cannabis’s efficacy—a figure they called “extraordinary” for biomedical research.

🔬 Key Takeaways from the Study:

• Symptom Relief: Cannabis showed consistent effectiveness in treating pain, nausea, appetite loss, and sleep issues—core symptoms for cancer patients undergoing treatment.

• Possible Anticancer Effects: Studies also pointed to reduced cancer cell proliferation, inhibited metastasis, and increased cancer cell apoptosis (programmed death).

• Inflammation Control: Cannabis demonstrated a “profound anti-inflammatory effect,” relevant not just for cancer, but for a broad range of chronic illnesses.

• Sentiment Analysis: Using machine learning to assess tone and language, the team found support for medical cannabis was over 31 times stronger than opposition across published studies.

• Policy Implications: The authors say the findings “redefine the consensus” and bolster arguments for re-scheduling cannabis under federal law.

While some limitations exist—particularly the nuance lost in computer-assisted sentiment analysis—the authors argue the data lays a compelling foundation for further research, clinical integration, and legal reconsideration.

“This level of agreement,” the researchers note, “rivals or exceeds that found for many FDA-approved medications.”

📊 Wider Context

The study arrives amid growing momentum in cannabis research, as evidenced by a University of Minnesota study earlier this year showing significant improvements in cancer symptoms among medical marijuana users. But affordability and access remain key barriers, particularly for low-income patients.

Estimates from the National Cancer Institute (NCI) suggest 20–40% of cancer patients use cannabis products yet official guidance and clinical trials still lag due to Schedule I classification.

Adding a political wrinkle, NCI staff are now reportedly required to obtain clearance before writing about cannabis, as it joins a list of "controversial" topics under the Trump administration’s second term.

🌿 What This Means:

• For patients: There’s growing, validated science behind what many have already experienced—cannabis works, and it may work in more ways than we thought.

• For clinicians: This review may accelerate the inclusion of cannabis in treatment plans, particularly for palliative care and symptom management.

• For policymakers: With support spanning both scientific and public opinion, this research strengthens calls to reschedule cannabis federally, expand access, and standardize clinical pathways.

🧬 The Road Ahead

While the evidence is mounting, researchers caution that more human trials and standardized product formulations are needed to guide precise therapeutic use. But this study’s message is clear: Cannabis is no longer fringe in cancer care—it’s foundational.

As Castle put it, “This is one of the clearest validations of medical cannabis in cancer care that the scientific community has ever seen.”

And for advocates, physicians, and patients alike, that’s a signal worth listening to.

📈 Dog Walkers.

Cardiol Begins Phase 3

What’s Going On Here: Cardiol Therapeutics (NASDAQ: CRDL | TSX: CRDL) has kicked off its pivotal Phase III MAVERIC trial with the enrollment of the first patient at Northwestern University. The trial evaluates CardiolRx™, the company’s lead anti-inflammatory drug candidate, for preventing recurrent pericarditis, a painful and often recurring heart condition.

MAVERIC is a multi-center, double-blind, placebo-controlled trial set to enroll 110 high-risk patients across the U.S., Canada, and Europe. The study targets patients tapering off IL-1 blockers, who face up to a 75% relapse rate. Primary goals include assessing CardiolRx’s impact on recurrence prevention at 24 weeks, with secondary endpoints like pain reduction and inflammatory markers.

Backed by positive Phase II MAvERIC-Pilot results, Cardiol aims to provide a non-immunosuppressive, accessible oral therapy for this underserved patient group.

Why This Matters: Cardiol have been executing on this program for some time now and its great to see Phase 3 kicking off.

Florida Patient Growth Continues To Rise

Whats Going On Here: Florida’s medical marijuana program is booming, adding 14,000 new patients in early 2025 and hitting 909,000 active registrations by April. But while the market grows, lawmakers are zeroing in on a key competitor: hemp-derived THC products.

Senate Bill 438, now gaining traction, would ban Delta-8, cap Delta-9 THC in hemp to 5mg per serving, and restrict sales of infused drinks to liquor-licensed retailers. Lawmakers cite safety concerns, with testing revealing that most hemp flower sold in smoke shops exceeds the federal THC limit, making it virtually unregulated weed.

Why This Matters: The Florida market could look very different this time next year if major hemps regulations are passed and we see adult use find its way back onto the ballot in 2026.

🗞️ The News

📺 YouTube

Hemp vs Cannabis: Industry Tensions, Reform, and Market Reality | Trade to Black

What we will cover:

✅ Host Shadd Dales and Anthony Varrell tee up a powerful episode featuring Jim Higdon, CEO of Cornbread Hemp, and Anthony Coniglio, CEO of NewLake Capital (OTCQX: NLCP).

Jim Higdon takes us inside the growing tension between the hemp and cannabis industries—two sectors that share the same plant but play by very different rules. Higdon discusses the regulatory gray area that continues to frustrate licensed cannabis operators, particularly when it comes to synthetic cannabinoids like Delta-8 and Delta-10, which are being sold with little to no oversight.

He explains why Cornbread Hemp has taken a different route—focusing strictly on compliant, full-spectrum CBD products—and how the hemp industry can clean up its own act before federal reform steps in. Jim also shares what he believes needs to change in the next version of the Farm Bill to create a level playing field.

Later, Anthony Coniglio joins us to address the wave of lease defaults in the cannabis industry, shedding light on what’s really happening in the capital markets.