💸 The Tape

President Donald Trump’s “federal surge” in Washington, D.C. was sold as a bold law-and-order push to combat violent crime. But judging by the weekend’s most viral clip—highlighted by John Oliver on Last Week Tonight—it looks like the crackdown may have found a softer target: people enjoying a joint on their porch.

In the video, a federal agent—flanked by colleagues from a coalition of agencies including the DEA, CBP, ATF, and National Guard—warned a group of residents about the new enforcement wave. “Don’t be smoking outside. Don’t be drinking outside. Because Donald Trump is tired of it,” the agent lectured, as if relaying presidential edict straight from the Resolute Desk.

The problem? Cannabis possession is legal in D.C. thanks to a 2014 voter-approved measure. Public consumption is technically banned, but smoking on a private porch is generally considered fair game. Oliver called the interaction “the purest expression” of the disconnect between Trump’s sweeping rhetoric on crime and the reality of what federal agents were actually targeting.

The “surge” has already produced 465 arrests in two weeks, according to Press Secretary Karoline Leavitt. But local leaders aren’t convinced it’s aimed at the right problems. Violent crime in the District has been trending below historical averages, and D.C. officials say residents never asked for this level of federal intrusion into their streets—or their stoops.

Meanwhile, the cannabis policy backdrop complicates things further. Trump has promised a decision soon on whether to reschedule marijuana from Schedule I to Schedule III under federal law, a move that would ease research restrictions and soften penalties. But on the ground in D.C., his administration is still treating porch tokes as worthy of a multi-agency show of force.

The mixed messages don’t stop there. Every year, Congress—under both parties—has blocked D.C. from creating a legal commercial cannabis market, leaving the city stuck in a gray zone where possession is fine, sales aren’t, and enforcement depends on who’s watching. To make matters spicier, anti-marijuana groups recently sent Trump and federal prosecutors a letter complaining that some licensed dispensaries were too close to schools, essentially tattling on businesses that the District itself approved.

For now, residents may want to keep their smoke indoors. After all, when the President is “tired of it,” even porch puffing can become a federal case.

📈 Dog Walkers

Hemp Beverages Go Mainstream

Whats Going On Here: On the latest TDR Trade to Black podcast, host Shadd Dales and Nevis Brands ($NEVIF) CEO John Kueber tackled the bubbling future of hemp-derived THC beverages. The conversation centered on what it will take for these drinks to make the leap from novelty to grocery-store staple.

Kueber pointed to consistency as the key: five milligrams of THC per serving is becoming the “beer standard,” a dose that’s approachable, repeatable, and social. Regulatory clarity, however, remains a hurdle, with state-by-state quirks creating a patchwork of rules on potency and packaging.

Retailers are cautiously opening shelf space, but compliance and liability still weigh heavily on their decisions. Meanwhile, branding is leaning into light, social imagery—more backyard BBQs than smoke circles—to entice new consumers and win over alcohol-weary millennials.

Bottom line? THC beverages are gaining momentum but still need stronger standards and federal clarity before they crack into the mainstream cooler.

Full Episode

$CNTMF ( ▲ 0.46% ) Brings Firepower To NY

What’s Going On Here: Massachusetts cannabis could be heading for a rerun of 2016, only this time the plot looks less Cheech & Chong and more “Back to Prohibition.” Two freshly filed ballot initiatives—each under the feel-good title An Act to Restore A Sensible Marijuana Policy—seek to roll back recreational legalization and tighten the screws on medical cannabis. Think of it as a “great reset” for Bay State weed.

If successful, adult-use retail and cultivation vanish, leaving only possession of up to one ounce (and gifting) legal. Medical users wouldn’t be spared either—one version caps THC at 30% for flower, 60% for concentrates, and no edibles stronger than 5mg per serving. In other words, Massachusetts might swap out dispensaries for artisanal bake sales.

But getting there is another story. Proponents must first collect 74,574 signatures by November, dodge legislative inaction in 2026, and then rally voters for a 2026 ballot showdown. And with 65% of voters still backing legal cannabis, repeal advocates face a tough climb.

Meanwhile, the Cannabis Control Commission’s ongoing scandals have given rollback organizers fresh talking points. But unless Massachusetts suddenly develops nostalgia for street dealers, the chances of voters torching their own legal market remain slim.

$HITI ( ▲ 6.25% ) Expands Footprint

What’s Going On Here: High Tide Inc. (Nasdaq: HITI) is keeping its momentum rolling with the announcement of two new Canna Cabana stores, one in Saskatoon, Saskatchewan, and the other in Lasalle, Ontario. These openings push the Company’s Canadian footprint to an impressive 205 locations nationwide, with 13 now in Saskatchewan and 84 across Ontario. CEO Raj Grover framed the news as another step toward making cannabis more accessible and affordable for Canadians, while teasing that High Tide’s ambitions stretch well beyond the Great White North—think Germany and, potentially, the U.S.

The Saskatoon location officially opened its doors on August 18, 2025, at 415 Circle Drive East. Positioned on the north side near a major highway exit, the store enjoys both visibility and a lack of nearby competition. Surrounded by quick-service restaurants, big-box retailers, and grocery anchors, the shop is strategically planted in a young, fast-growing neighborhood—a perfect match for High Tide’s discount-focused cannabis retail model. Translation: foot traffic and a loyal customer base are practically built in.

Meanwhile, in Ontario, the Lasalle location at 2055 Sandwich Parkway West is slated to open on August 25, 2025. The site sits at the heart of a fresh development featuring retail, dining, and new housing. With 24,000 residents within a five-minute drive, and nearly 90,000 within ten, High Tide has snagged a first-mover advantage by planting the area’s inaugural cannabis retail flag.

Taken together, these two launches underscore High Tide’s retail-first strategy: open stores in underserved but growing markets, secure prime spots next to household-name retailers, and let the discount-driven Canna Cabana model do the rest. As Grover points out, these are only incremental steps in a much bigger global expansion story. For investors and cannabis consumers alike, the Cabana club is clearly just getting warmed up.

🗞️ The News

📺 YouTube

MSOS ETF: 18 Days of Inflows + Psilocybin Rescheduling Ahead? | TTB Powered by Dutchie

What we will cover:

✅ In this episode of the Trade To Black Podcast, host Shadd Dales and co-host Anthony Varrell, powered by Dutchie, dive into two big stories making waves right now in cannabis and psychedelics.

Segment One brings on Noah Hamman, Founder & CEO of AdvisorShares and Managing Director of the AdvisorShares Pure US Cannabis ETF (NYSE Arca: MSOS). For 18 straight trading sessions, MSOS has seen inflows as investors pile into U.S. cannabis equities on the back of rescheduling momentum. Noah explains how he manages those inflows, allocates capital across top operators, and whether building up a cash position makes sense at this stage of the cycle. With cannabis rescheduling chatter intensifying, MSOS (ticker: MSOS) has become one of the most closely watched ETFs in the industry, and Hamman provides insight into what investors should know right now.

Segment Two shifts to psychedelics reform. We welcome Shane Pennington, Partner at Blank Rome LLP, and widely regarded as one of the most qualified attorneys in the U.S. on cannabis and psychedelic policy. Shane breaks down the DEA’s decision to advance a petition to reschedule psilocybin, sending it to federal health officials for review. We explore what this move really means, how the process works, and what the implications are for patients, researchers, and the broader therapeutic landscape.