💸 The Tape

The Cannabis Cabinet At A Glance

Hold onto your hats, folks! The Trump administration's latest cabinet picks are a mixed bag when it comes to cannabis reform. Let's break it down, shall we?

First up, Robert F. Kennedy Jr. is set to lead the U.S. Department of Health and Human Services (HHS). This guy's all about drug policy reform, advocating for the legalization and taxation of cannabis and psychedelics. He’s like the cool uncle who brings the best gifts to the party. Expect some serious shifts in federal drug policy with him at the helm.

Then there's Pam Bondi, the new Attorney General nominee. If you’re hoping for a cannabis-friendly AG, don’t hold your breath. Bondi has a history of opposing cannabis reform, challenging medical marijuana initiatives in Florida. Her appointment could mean a tougher federal stance on cannabis, despite the green wave sweeping the nation. Let’s keep in mind though that her tracks record of pushing her bosses agenda is in tact and her negative sentiment was exhibited many years back.

Mehmet Oz, nominated to lead the Centers for Medicare and Medicaid Services, is a bit of a wild card. He’s criticized recreational use but has acknowledged the medical benefits of cannabis, especially for seniors. Oz might just be the bridge between conservative caution and medical necessity.

Now, Elon Musk—yes, the Tesla and SpaceX guy—is in the mix. Musk’s libertarian views and infamous on-air joint with Joe Rogan make him a vocal advocate for cannabis legalization. While he’s not a traditional political figure, his influence could sway public opinion and policy discussions.

Lastly, Marty Makary, nominated to lead the FDA, brings a cautious approach. Known for his contrarian views on public health, Makary has questioned the safety of marijuana, particularly its long-term health impacts. Expect him to push for more rigorous research and regulation of cannabis products.

In summary, the Trump administration's cabinet picks present a diverse array of views on cannabis. From Kennedy's progressive stance to Bondi's conservative approach, and from Oz's medical advocacy to Musk's libertarian views, the future of cannabis policy under this administration remains uncertain. One thing’s for sure: these appointments will keep the cannabis conversation moving FORWARD.

📈 Dog Walkers

New Jersey Gets With The Times

Well, this is a first! Public workers in Trenton, Orange, and Teaneck, New Jersey, are now receiving medical marijuana coverage as a healthcare benefit. Thanks to Bennabis Health, these employees can enjoy discounts at participating dispensaries and access cannabis-related telehealth care. Workers will see at least a 15% reduction in what a typical medical marijuana patient pays. Bennabis, ever the trailblazer, also announced its expansion into Maine, partnering with dispensaries in four locales. This comes a year after launching the “first group health medical cannabis program” to reduce out-of-pocket costs for therapeutic cannabis users. Bennabis co-founder Don Parisi hailed the Trenton benefit as a historic milestone, emphasizing its significance as a first in U.S. history for non-cannabis industry employers. Progress.

High Tide Opens Up Shop In Scarborough

Hold onto your dispensaries, folks! High Tide Inc. (Nasdaq: HITI) just hit a high note with the grand opening of their 188th Canna Cabana store at 2432 Eglinton Avenue East, Scarborough. This marks their 74th location in Ontario and the 11th in Toronto—talk about making a splash! Situated near the bustling Kennedy GO Train station, this cannabis retail gem is strategically placed to serve around 20,000 local residents. CEO Raj Grover, ever the savvy businessman, emphasizes the prime real estate grab and its proximity to high foot traffic areas. With a blend of premium products and strategic locations, High Tide continues to ride the wave of success, both in brick-and-mortar and e-commerce segments. Cheers to that!

MedPharm Left Out In The Cold

In a plot twist worthy of a legal drama, a DEA judge has denied MedPharm's request to join the upcoming marijuana rescheduling hearing. DEA Administrator Anne Milgram handpicked 25 witnesses, sparking outrage among advocates and stakeholders who were left out in the cold. MedPharm, a DEA-registered research firm, wasn't having it and filed a motion to intervene. They argued that excluding DEA-licensed marijuana researchers leaves a gaping hole in the knowledge base. Adding fuel to the fire, MedPharm pointed out that the chosen witnesses include prohibitionist groups and conservative law enforcement agencies, who are hardly fans of the proposed rule. As the hearing date of December 2 approaches, the drama continues to unfold. Stay tuned for more twists and turns in this cannabis saga!

🗞️ The News

High Tide Opens Second Canna Cabana in Scarborough, Ontario

DEA Judge Denies Agency-Registered Drug Company’s Request To Join Marijuana Rescheduling Hearing

RFK Jr will cut prescription drugs and increase weed and psychedelics access

Three New Jersey Municipalities Will Offer Medical Marijuana Benefits To Public Workers, An Apparent First In The U.S.

📺 YouTube

Matt Gaetz Is Out & Pam Bondi Is In - What does this mean for the Cannabis Sector? | Trade to Black

What we covered:

✅ On our latest Trade To Black podcast, hosts Shadd Dales and Anthony Varrell will be breaking down some of the pressing headlines from this week.

In the last few days we have seen Donald Trump's AG nominee flip from Matt Gaetz to Pam Bondi, Chuck Schumer dig up SAFE Banking to potentially get it done in the lame duck, SAM gets slapped for misbehaving, and Texas AG Ken Paxton is back on the prohibition train.