💸 The Tape

President Donald Trump has broken his silence—sort of—on marijuana policy. Speaking at a $1 million-a-plate fundraiser at his Bedminster club, he told donors, “That’s something we’re going to look at” when asked about marijuana rescheduling. That’s about as noncommittal as it gets, but in a White House where the issue has been radio silent since inauguration, it’s notable.

The rescheduling process, initiated under the Biden administration, is now in Trump’s court. The decision could fulfill a key campaign pledge and align with polling showing Republican voter support for various cannabis reforms. But according to CNN, the administration is split—some advisors are urging action, while others warn that loosening federal restrictions could create political and “moral” blowback.

White House Chief of Staff Susie Wiles has already gathered agency input, now sitting in a report on her desk. Whether that report gathers dust or sparks policy movement remains to be seen.

Cannabis industry players are watching closely—and investing accordingly. A marijuana industry-funded PAC poured $1 million into Trump’s MAGA Inc. super PAC earlier this year, with Trulieve alone chipping in $250,000. Not coincidentally, Trulieve CEO Kim Rivers was at the dinner where Trump made his latest remarks. The PAC has also paid six figures to a Trump-linked research firm whose polling shows majority GOP support for reform.

Industry optimism isn’t just based on donor dinners. The CEO of Scotts Miracle-Gro says Trump has personally told him “multiple times” he plans to follow through on rescheduling. And Trump’s former acting DEA chief recently predicted the administration will “dig in” on the state-federal cannabis conflict.

Still, new DEA Administrator Terrence Cole—who promised in April that rescheduling review would be a “first priority”—left cannabis completely off his official “strategic priorities” list, focusing instead on cartels, fentanyl, and the dark web.

Meanwhile, former Press Secretary Sean Spicer is predicting Trump won’t legalize marijuana—though that’s a separate question from rescheduling.

Bottom line: Trump’s latest comments are enough to keep hope alive for cannabis investors and reform advocates, but not enough to declare victory. For now, marijuana rescheduling remains in political limbo—one donor dinner soundbite away from either momentum or mothballs.

📈 Dog Walkers

Joe Gruters Is Headed To The RNC

What’s Going On Here: Joe Gruters is about to make a little history—and not just because he’s taking over the Republican National Committee. The current RNC treasurer, tapped by Donald Trump in July after Michael Whatley’s resignation, is running unopposed for chair and will officially assume the role after the August 22 vote.

What sets Gruters apart? He’s arguably the most cannabis-friendly Republican to ever sit in the big RNC chair. In Florida politics, he’s been a vocal supporter of marijuana reform, backing Amendment 3—the 2024 initiative that legalized recreational use—calling it “a common-sense decision” that boosts freedom, safety, and economic growth.

He’s also championed bills to let medical marijuana patients grow up to two plants at home and to protect state employees from losing their jobs over legal marijuana use.

When he takes the gavel, Gruters will be the first RNC leader to openly support cannabis legalization—a symbolic and potentially strategic shift for a party historically split on the issue. Whether that translates into real GOP momentum for reform is a question for another day.

$ACB ( ▲ 1.15% ) Reports AGM

What’s Going On Here: Aurora Cannabis’ August 8, 2025, Annual General and Special Meeting was a mix of routine corporate housekeeping and notable boardroom changes. Shareholders representing 31.53% of outstanding shares weighed in on director elections, approving all nominees except Theresa Firestone, who subsequently resigned effective August 31. Firestone, a board member since 2021 and Chair of the Human Resources and Compensation Committee (HRCC), earned praise from CEO Miguel Martin for her four years of strategic insight and professionalism.

Michael Singer, newly ratified as Lead Independent Director, will also take over as HRCC Chair, while the Nominating and Corporate Governance Committee begins the search for Firestone’s replacement.

Other meeting results: Ernst & Young LLP was reappointed as auditor, shareholders approved amendments to Aurora’s RSU, PSU, and Share Option plans, but the advisory “say-on-pay” vote failed to secure majority support—a potential signal of investor pushback on executive compensation.

Overall, the meeting reinforced Aurora’s commitment to governance adjustments while keeping its strategic focus on growth in the global medical cannabis market.

🗞️ The News

📺 YouTube

Trump Signals Possible Cannabis Rescheduling | TDR Cannabis in 5

What we will cover:

✅ President Donald Trump has broken his silence on marijuana rescheduling, telling donors at a $1-million-a-plate fundraiser that it’s something his administration is “going to look at.” The remark is the clearest sign yet that cannabis reform is still on the table in Trump’s second term — even amid internal White House debate.

In this episode of Cannabis in 5 presented by Dutchie, host Shadd Dales breaks down exactly what was said, who was in the room — including Trulieve CEO Kim Rivers — and why this issue could fit into Trump’s broader law-and-order agenda.

We breakdown new FEC filings showing millions in industry donations to Trump-aligned PACs, the role of major players like Scotts Miracle-Gro, and why some advisors inside the West Wing are pushing for action while others warn of political risk.

Former DEA Special Operations Director Derek Maltz also weighed in on the discussion recently, outlining with a hard look at the booming illicit cannabis market, and how it ties to organized crime, and how rescheduling could shift demand into the regulated, tax-paying industry — aligning with Trump’s enforcement priorities on fentanyl, violent crime, and border security.