💸 The Tape

Veterans groups and cannabis advocates in Texas are sounding the alarm over Senate Bill 3 (SB 3), a piece of legislation that would ban all hemp-derived cannabinoid products containing any detectable amount of THC—posing a major threat to the state’s burgeoning hemp market and consumers who rely on the products for health and wellness.

The Texas Veterans of Foreign Wars (VFW) took to social media this week urging Governor Greg Abbott (R) to veto the bill, saying, “Banning legal hemp would cause irreversible harm to communities across the state.” The call was tied to a petition submitted by the Texas Hemp Business Council, which had garnered over 90,000 signatures by Thursday afternoon.

“We, the undersigned citizens of Texas, call on Governor Abbott to reject SB 3,” the petition reads. “Hemp is not a threat but a resource that helps countless Texans lead healthier, more fulfilling lives.” The letter warns of job losses in the $8 billion hemp industry, which employs over 50,000 Texans, and suggests lawmakers opt for tighter regulation—not prohibition.

Texas legalized hemp sales in 2019 after the federal government did so via the 2018 Farm Bill. Since then, an estimated 8,000 retailers have sprung up across the state selling edibles, beverages, vapes, and hemp flower.

Gov. Abbott has yet to indicate how he’ll handle SB 3, with a spokesperson simply saying the legislation will receive “thoughtful review.”

Meanwhile, in a surprising twist of cannabis policy contradiction, the Texas Senate approved a separate bill this week that would expand the state’s limited medical marijuana program. The bill, from Rep. Cody Harris (R), adds chronic pain and end-of-life care to the list of qualifying conditions. Earlier versions included conditions like Crohn’s disease and TBI, but those were removed during Senate negotiations.

The expanded medical bill now returns to the House for concurrence, after lawmakers struck a late-floor deal to re-add chronic pain—a move Rep. Tom Oliverson (R) said was part of an agreement with Lt. Gov. Dan Patrick, though Patrick denies any backroom deal.

While the legislature mulls expansion on one hand, it’s also trying to restrict local reform efforts. A separate bill approved by a House committee would prevent cities from placing marijuana decriminalization measures on local ballots—a direct counter to grassroots efforts in cities like Austin and San Marcos.

If there’s one clear takeaway in Texas right now, it’s this: the cannabis conversation is heating up, and voters, veterans, and business owners alike are watching closely.

📈 Dog Walkers.

MariMed Gets Synergistic

What’s Going On Here: MariMed (CSE: MRMD, OTCQX: MRMD) is blending nature with neuroscience in its latest innovation: MycroDose by Nature’s Heritage. This new vegan product line combines full-spectrum cannabis with functional mushrooms to support wellness in pill form. Available in Massachusetts, MycroDose is currently stocked at MariMed’s Panacea Wellness stores and select dispensaries.

The lineup includes:

• Chill – For stress relief (THC, CBD, Ashwagandha, Cordyceps, Lion’s Mane)

• G’Night – For better sleep (THC, CBN, Reishi, Chamomile, Magnesium)

• Remedy – For inflammation and calm (THC, CBD, Oyster mushroom, Ginger, Turmeric)

• Spark – For clarity and focus (THCV, THC, Shiitake, Lion’s Mane, Ginseng)

Brand Director Tami Kirlis says the line reflects Nature’s Heritage’s mission to enhance wellness naturally.

Cardiol AGM Is Adjourned

What’s Going On Here: Cardiol Therapeutics Inc. (NASDAQ/TSX: CRDL), a clinical-stage biotech developing anti-inflammatory therapies for heart disease, announced the results of its Annual General Meeting held virtually on May 28, 2025. Shareholders overwhelmingly approved all management proposals, including the re-election of seven directors and the appointment of BDO Canada LLP as auditors.

A notable highlight was the appointment of Dr. Timothy Garnett, former Chief Medical Officer at Eli Lilly, to Cardiol’s Board. Dr. Garnett brings over 30 years of global pharmaceutical leadership, including successful development and launches in women’s health, endocrinology, and neuroscience.

Cardiol Chair Dr. Guillermo Torre-Amione praised the addition of Garnett as the company advances its Phase III MAVERIC trial in recurrent pericarditis and prepares to report top-line results from the Phase II ARCHER trial in acute myocarditis.

Outgoing board member Michael Willner will continue to advise the company.

🗞️ The News

📺 YouTube

What’s the #1 Cannabis Stock to Own in 2025? Here’s Who | Trade to Black

What we will cover:

✅ Host Shadd Dales puts a fresh question on the table for cannabis investors: If you had to buy just one U.S. cannabis stock right now — is it Trulieve or Green Thumb Industries?

This isn’t about hype. It’s about helping investors think clearly at a time when capital is tight, reform is stalled, and Q1 2025 earnings are revealing who’s actually executing.

Trulieve came in strong on EBITDA and cash — but it’s still tied heavily to Florida, where adult-use failed to pass. Green Thumb, meanwhile, is playing the long game: diversified, free cash flow positive, and not chasing headlines.

Shadd breaks down the latest numbers, market positioning, and risk profiles — and shares which name looks like the smarter bet heading into the back half of 2025.

If you care about fundamentals and reform tailwinds, this is a conversation worth tuning in for.