💸 The Tape

In a historic nod to evolving public sentiment and clinical science, the U.S. House of Representatives this week approved a pair of amendments to a major veterans’ funding bill that could dramatically reshape how the Department of Veterans Affairs (VA) handles medical cannabis and psychedelic therapy.

Yes, you read that right: Washington may finally let veterans talk about weed with their doctors—and start prepping for psilocybin in the VA.

On Wednesday, the House tacked two major provisions onto the Military Construction, Veterans Affairs and Related Agencies (MilConVA) appropriations bill. One amendment, led by Reps. Brian Mast (R-FL) and Dave Joyce (R-OH)—co-chairs of the Congressional Cannabis Caucus—would repeal an internal VA directive that currently bars doctors from recommending medical marijuana to veterans, even if the patients live in a legal state.

The amendment explicitly blocks funds from being used to enforce Veterans Health Directive 1315, a policy that prevents VA providers from helping vets access state medical cannabis programs. Mast, a veteran himself, shared the deeply personal motivation behind his advocacy—pointing to the limits of traditional pharmaceuticals and the need for better options.

“Veterans need to have options outside of these narcotics,” Mast said on the House floor. “They need the ability to discuss whether cannabis is or isn’t right for them—with their VA doctor—not some underground workaround.”

The House approved the amendment by voice vote. It’s a win for advocates, even if a familiar one—similar language has passed either the House or Senate in previous sessions but has never made it into law. Still, this new momentum could signal a turning point.

Meanwhile, the chamber also adopted a second groundbreaking amendment, this one focused on psychedelic therapy integration at the VA. Reps. Lou Correa (D-CA) and Jack Bergman (R-MI) proposed the measure, which urges the VA to evaluate infrastructure changes needed to support psychedelics like MDMA and psilocybin as potential treatments for PTSD and substance use disorders.

“This amendment sends a clear message to the VA: Don’t just study—prepare,” said Bergman. “We owe our veterans more than research—we owe them results.”

The amendment includes language to support provider training, safety protocols, and clinical pilot programs, anticipating that FDA approvals for psychedelic-assisted therapies could arrive as early as 2025.

Together, the two amendments reflect a rare bipartisan push to modernize veterans’ care by embracing emerging therapies that the federal government has long stigmatized or outright banned. And while these changes aren’t law yet, they suggest Congress is finally tiptoeing toward a more rational—and compassionate—drug policy.

In other words, the feds may finally be learning what veterans already know: healing doesn’t always come in a pill bottle.

Now its up to the Senate to do the right thing.

📈 Dog Walkers.

$ACB ( ▲ 8.67% ) Expands Coverage

What’s Going On Here: Aurora Cannabis Inc. (NASDAQ/TSX: ACB) has expanded its compassionate pricing program in Canada, raising the annual income eligibility threshold from $40,000 to $60,000 CAD. This change increases access to medical cannabis for a broader patient base, with over half of Canadian adults now qualifying. Through AuroraMedical.com, patients can explore discounted pricing on a variety of therapeutic products.

Geoff Hoover, SVP of Canadian Commercial, emphasized Aurora’s mission to “break down barriers” to medical cannabis access, calling the update “the most accessible and inclusive pricing plan in Canada.”

This update coincides with the release of new medical offerings:

• Aurora Mediora Minis – Cannatonic CBD Flower (Sativa, 10mg)

• Daily Special – Sativa J’s THC Pre-Rolls (7 x 0.3g)

• WMMC – Petro Biscuit THC Flower (Indica, 10mg)

Aurora also offers dedicated support for seniors, pediatric patients, veterans, and first responders, reinforcing its leadership in global medical cannabis. The company operates across Canada, Europe, Australia, and New Zealand, with a growing portfolio of medical and consumer brands, including Drift, MedReleaf, and Whistler Medical Marijuana Co.

$TLRY ( ▲ 4.72% ) Publishses Viable Cannabinoid Research

What’s Going On Here: Tilray Medical has published a new scientific study comparing the bioavailability of two THC:CBD formulations—Tilray’s oral extract and an oromucosally administered nabiximols spray. The pilot crossover study involved 12 healthy volunteers and aimed to evaluate how each formulation delivers cannabinoids in the body.

Key findings:

• Tilray’s oral extract showed a significantly higher Cmax (peak concentration) for both THC and CBD than nabiximols.

• Time to peak (Tmax) and total exposure (AUC) were not significantly different between the two.

• Gender differences were observed: nabiximols had a higher Cmax in males.

• No serious adverse events were reported.

These results suggest that Tilray’s oral formulation may be more effective at delivering higher cannabinoid concentrations faster—potentially impacting therapeutic outcomes for patients.

This research underscores Tilray’s commitment to advancing medical cannabis science and improving global access to consistent, pharmaceutical-grade cannabinoid therapies.

🗞️ The News

📺 YouTube

Why "Regulate Cannabis Like Alcohol" Is Catching On | Trade to Black

What we will cover:

✅ Shadd Dales and Anthony Varrell cover major developments in both U.S. and international cannabis markets — from Texas politics to European expansion.

First, we break down Governor Greg Abbott’s veto of Senate Bill 3 (SB3) — a bill that would’ve effectively banned all consumable hemp-derived THC products in Texas, including Delta-8 and Delta-9. Abbott called the bill “overly broad,” warning it could unintentionally criminalize parents, veterans, and legal operators. Shadd and Anthony weigh in: was this a rare win for the hemp industry, or just a temporary pause before stricter regulation?

Then, we take a data-driven look at legalization’s impact more than a decade in: over $24.7 billion in state tax revenue has been generated since 2014. States like Colorado, Illinois, and Nevada are reinvesting that money into education, infrastructure, and equity. Even more surprising? Teen cannabis use is down sharply in most legal states, thanks to strict retail enforcement and prevention programs.

We also discuss a major European development: Tilray Medical is now the first company authorized to sell branded cannabis in Italy. It’s a major step forward in Europe’s medical cannabis rollout — and possibly a glimpse at where the global market is heading.