💸 The Tape

Trump’s Common Sense Cannabis Grand Slam

Since President Trump first stepped into the Oval Office eight years ago, state-legal cannabis programs have expanded from $5.4 billion in sales to $32 billion, creating over 500,000 jobs. Today, 77% of Americans have access to state-legal medical cannabis, yet Washington’s swamp-driven gridlock continues to obstruct federal common-sense laws.

The science is already clear. In August 2023 the Department of Health and Human Services (HHS) issued a groundbreaking 253-page report explicitly recommending the rescheduling of cannabis from Schedule I to Schedule III. The report confirmed cannabis’s lower potential for abuse and recognized its accepted medical use. Furthermore, more than 30,000 healthcare practitioners across 43 states are authorized to recommend medical cannabis to over six million registered American patients for at least 15 medical conditions.

Our states are the laboratories of democracy, and once again, they have proven this to be true. Today, 500,000 hardworking Americans operate within tightly regulated, state-legal cannabis programs, providing patients and consumers with safe, tested, and age-verified products. These businesses follow stringent compliance measures and contribute billions to state economies. Yet, despite the overwhelming success of state-legal cannabis programs and broad public support for reform, the industry remains shackled by outdated federal policies and obstructionist inaction. These prohibitionists—so un-American and rabidly anti-business—have forced American cannabis entrepreneurs to incorporate and list their companies in Canada, denying them access to the very capital markets that fuel American innovation and growth. What this industry needs is a strong, business-focused president—one who understands that the business of America is business and that cannabis should be built, regulated, and prosper in America, for Americans. The time has come to bring cannabis into the federally regulated market and onto U.S. banking rails, just as President Trump is doing with crypto.

With a simple stroke of his pen, Biden could have partially fulfilled his broken campaign promise, to reform cannabis by approving Schedule III. Instead, his inaction has fueled chaos and confusion, allowing prohibitionists to weaponize federal agencies, falsely equating state-legal cannabis with illegal THC products. This false, self-serving narrative has emboldened violent Mexican and Chinese drug syndicates, fueling their expansion. The result? American-run, state-legal businesses are under attack by opportunistic lawmakers eager to score political points instead of enacting real solutions, while the true threat—violent Mexican drug cartels and Chinese crime syndicates—reap a $100 billion windfall each year, flooding America with unregulated, dangerous products that kill innocent people. Meanwhile, 500,000 hardworking Americans in the state-legal cannabis industry are brutaly targeted, denied basic financial services, and systematically excluded from the Bureau of Labor Statistics (BLS), treating Americans like criminals. All the while, illegal cartels continue making billions—enabled by weak politicians who attack American businesses instead of confronting the real enemy.

America needs a revolution of common sense—a leader who believes in building great American businesses, supports enforceable common-sense laws, and acknowledges the hardworking cannabis employees ignored by the BLS. A leader ready to deliver Trump’s Common Cannabis Grand Slam that will Make America SAFER and Healthier Again.

End Cannabis Debanking: Stop Funding Cartels, Start Protecting Workers: Biden’s reform failure has fueled lawlessness, handing Mexican cartels and Chinese syndicates a $100 billion cash windfall while excluding and erasing 500,000 American cannabis workers from official labor statistics. These same American dispensary employees are denied basic financial rights—no checking accounts, no mortgages, no security. This is financial discrimination, plain and simple. Washington must stop enriching cartels and start protecting American workers. End this insanity now. Congress must end Biden’s cannabis chaos and finally put American workers first.

Regulated THC is legal, unregulated THC is illegal. It’s that simple: Biden’s regulatory disaster has allowed prohibitionists to weaponize federal agencies, falsely equating state-legal cannabis with illegal THC products. The false, self-serving narrative has sown confusion over what is legal and what is not. We need Trump’s common-sense laws to regulate all THC product, under the same laws, just as President Trump is doing in crypto.

Taking back our $100 Billion: Trump believes the $100 billion Biden gifted Mexican cartels, Chinese gangs, and violent illegal criminals must be taken back NOW and put into American pockets.

The World’s Biggest, Safest, and Most Sophisticated Cannabis Industry. Trump is making history, we’re reclaiming cannabis back from Canada, from illegal Mexican cartels and evil drug dealers and putting it into the hands of great American entrepreneurs and business builder, creating the safest, medical cannabis market in the world with our great states setting their own rules. It worked for crypto, and it will work for cannabis.

This isn’t just cannabis reform. This is a pro-business, pro-law & order, America-first economic move that shuts down illegal cartels and drug dealers, protects workers, and builds a hundred-billion dollar all American industry—right here at home.

Erich Griffin-Mauff, Partner - FiSai US Management

📈 Dog Walkers.

Tilray Medical Is Live In Germany

What’s Going On Here: Tilray Medical, the cannabis connoisseur of Tilray Brands, Inc., has puffed up its portfolio with Tilray Craft in Germany. This new bud on the block offers patients a high-THC, terpene-rich toke with Cannabisblüten THC 25 TAM—think Triangle Mints with a spicy, earthy diesel twist. Aimed at evolving patient needs, Tilray’s latest strain proves they’re not just blowing smoke. Available now with a doc’s note, it’s healthcare with a higher purpose!

Why Should You Care: This is big for Tilray as it marks their domestic production in Germany coming online. They hold one of the coveted licensed to produce in Germany with the capacity to grow an extensive catalog of cultivars.

LTM Capital Raise Comps via Viridian

LTM capital raises totaled $2.34B, up 0.9% from the same period in 2024. Debt as a percentage of capital raised on a worldwide basis was 63.1%, compared to 57.8% last year. U.S. raises LTM accounted for 77.3% of total funds, up from 53.6% at the same point in 2023. Raises from outside Canada and the U.S. represented 1.31% of the total funds raised, falling short of the average of 5.33% in the six previous years.

🗞️ The News

📺 YouTube

US Cannabis Rescheduling: A Win for America and the World | Trade to Black

What we will cover:

✅ On our podcast, hosts Shadd Dales and Anthony Varrell will be joined by Big Mike from Advanced Nutrients to discuss the importance of rescheduling cannabis in the US and EU markets. They'll discuss the global impact of rescheduling and the differences in cultivation and technology between the US and Europe.

Big Mike will share that Advanced Nutrients' sales are up 40-46% from last February, having already broken their first-quarter sales from the previous year. The discussion will cover the importance of quality over quantity in the cannabis industry, with a focus on premium cultivation and bonus plans for cultivators.

They'll also talk about the concept of trust in the cannabis industry, comparing the regulated market to the illicit market.

The quality of cannabis in the EU versus California will be examined, with insights into how some EU countries are still learning, while exceptions like Portugal are growing high-quality cannabis.