Reading the Administration's cannabis tea leaves

READING TEA LEAVES
What Trump’s picks mean for cannabis

Driving the news: Almost immediately after former Congressman Matt Gaetz dropped out of the running as the next US Attorney General (and joined Cameo) last week, the next wave of announcements started trickling out of the Trump transition team. And doing what the cannabis industry does best, we started looking at these Trump appointees’ records on cannabis.

Let’s take a look:

Attorney General | Former Florida Attorney General Pam Bondi
The Attorney General oversees the Drug Enforcement Administration, which is currently in the midst of the rescheduling process. This appointment matters a lot, obviously. It has been pointed out by many that Pam Bondi’s record on cannabis was not positive when she was the Attorney General of Florida. That said, Kim Rivers, CEO of Florida-based Trulieve came out publicly, via Twitter/X, to say that she thought the pick was a good one, so there’s that. 

Department of Health & Human Services (HHS) | RFK Jr.
As the agency that oversees the Food and Drug Administration, HHS has enormous sway on the federal government’s approach to cannabis as well. So strictly on this issue, RFK Jr. might be helpful to the industry and his public position in the past has been supportive, as Marijuana Moment documented. Of course, barring a recess appointment, the Secretary of Health & Human Services requires Senate confirmation. And with Gaetz out of the picture, expect the Kennedy hearing to be very, very interesting viewing. 

Food and Drug Administrator | Dr. Marty Makary 
Dr. Marty Makary is the nominee to head up the Food and Drug Administration. Recently on the mindbodygreen podcast, he was asked about cannabis, here’s a quote from 32:30 in the podcast: 

“...So people think marijuana today is the marijuana of hippies and that it’s entirely safe. But marijuana today is roughly 20 times more potent. And even though it may have lower health complications in adults, that may not be true for adolescents where their mind is still developing. The drug may have a different impact on young, healthy teenagers. And so, some studies have found that among teenagers who use marijuana the risk of a psychosis diagnosis later in life goes way up, as many as 25% of people who consume it…I’m not making a statement about the legalization or non-legalization, simply that to suggest that it is entirely safe is not consistent with the real scientific literature…”

Dr. Makary has also Tweeted about cannabis (or “weed”):

But wait, there’s more: Major cannabis reform will also need legislative help, of course. So it’s important that the Senate take action, and not just the House of Representatives as has happened in the past. And there’s new leadership in the Senate. Specifically, Senator John Thune has won the spot to replace Senator Mitch McConnell as Senate Majority Leader. Thune’s own state of South Dakota rejected legalization earlier this month, and it’s worth noting that Thune has an “F” record as a legislator from NORML.  

The takeaway: Like with many things in the Trump world, we just don’t know what this all means. We know Trump supported the failed Amendment 3 in Florida earlier this month. Trump has stated that he supports rescheduling and banking reform for the cannabis industry. But on what timeline, with what Administrative leadership, and with which members of Congress carrying the cannabis reform mantle, we just don’t know. 

So we will wait, see, and Tweet until we know more.

-JR

While there are many cannabis industry people who love F1, the feeling may not be mutual. 

Obviously, F1 drivers must pass drug tests in order to drive. And, this past weekend, F1 landed in Las Vegas. Not everyone loved what they smelled. Especially driver Franco Colapinto: 

“There was a smell of marijuana…If they dope the drivers now, I think we’ll all test positive. When we all test positive, there will be a mess.”

Let’s just say that starting December 3, the smell of cannabis will find a much more receptive audience when MJBizCon kicks off…

First Amendment and cannabis advertising ruling in Mississippi 👨‍⚖️

A Federal court in Mississippi ruled in a First Amendment case that restrictions on advertising medical cannabis in that state are indeed constitutional. Shane Pennington has details on LinkedIn. 

Two associated with Alleaves punished for insider trading 🌴

Michael Shvartsman and Eric Hannelius, both associated with the cannabis track-and-trace technology company Alleaves/BioTrack, have been penalized for insider trading of a company associated with Trump Media & Technology Group Corp. Shwartzman was sentenced to “more than two years” after a plea agreement, according to the Miami Herald, while Hannelius will pay civil penalties. Read the full story in the Miami Herald. 

Lynn Gefen announced on LinkedIn that she’s adding to her already impressive title at TerrAscend. Now, she’ll hold the roles of Chief People and Legal Officer and Corporate Secretary.

As noted up top, former pro-cannabis Congressman/nominee for Trump’s Attorney General Matt Gaetz is now available for videos on Cameo. We eagerly await the first cannabis business who uses Gaetz in their promotions…

How Florida’s anti-pot legalization campaign rode the populist wave | POLITICO Pro