Trump’s missed opportunity 🌿

FEDERAL REFORM
Trump’s squandered opportunity on cannabis

A quick thought bubble: Marc Fogel was imprisoned in Russia for possessing 17 grams of cannabis. He was brought home to the US by the Trump Administration where, in many states, he could theoretically be thrown in jail on those very same charges.

During Wednesday’s address to Congress — the longest ever at one hour and thirty nine minutes — Trump could’ve pointed out his success in freeing Fogel and shared how he planned to encourage his Administration and Congress to come up with common-sense cannabis reform. 

It was a perfect opportunity to take a political win and show the voting public that he would act on a widely popular and bipartisan issue. It seems telling that he didn’t mention it at all. 

Instead, he talked about pretty much everything else, including some wild ideas like annexing Greenland and the Panama Canal.

Back up for a second: Trump posted in support of the legalization in Florida, federal banking reform, and rescheduling during the campaign last year but stopped short of endorsing full federal legalization. 

It’s possible his posts were simply a way to neutralize Democratic support. It’s also possible he was courting the young male crowd, who are overwhelmingly in support of legalization. 

But he’s been quiet on the issue since then. And many of his appointees in the Cabinet are old-school Republicans who are against reform. Reading the political tea leaves under a president like Trump is always fraught, but so far, they don’t look good. 

Read more: Our February 28 newsletter to see what cannabis execs think will happen under Trump. 

Yes, but: Howard Wooldridge, a longtime drug policy reform advocate, told Marijuana Moment that he spoke with a White House representative about cannabis reform at an event and is preparing a proposal.

The market seems to have liked that — cannabis stocks rose yesterday.

-JB

“We must talk about our stories. We must share how this plant makes a difference in our life,” Nikki Lawley, a New York medical cannabis patient and advocate, said at an event organized by the New York Medical Cannabis Industry Association (MYMCIA). 

“At the end of the day, it’s not about getting high, it’s about getting well.” 

The NYMCIA organized a rally in Albany to highlight the “deterioration” of the state’s medical cannabis industry and advocate for better policy.

Safe Harbor modifies debt agreement 🤝

Safe Harbor Financial has restructured its debt with Partner Colorado Credit Union, introducing a two-year, interest-only period — maintaining a 4.25% interest rate and extending the due date to October 2030. This modification is expected to free up over $6 million in cash flow, the company said. Read more.

Daily cannabis use is linked to quitting opioids for pain, according to a new study published in the journal Drugs and Alcohol Review. It’s another sign that cannabis can be an effective replacement for opioid-based drugs in some cases. Read the full study.

Cannabis consumers are highly interested in ordering their favorite products through DoorDash, according to a new poll from NuggMD, a cannabis telehealth company. 

“This poll is yet more evidence that federal cannabis prohibition is unfairly kneecapping legal, regulated businesses that serve Americans well and pay taxes,” Andrew Graham, NuggMD’s head of communications, said. “Online commerce for cannabis clearly appeals to a large share of cannabis consumers, but federal prohibition makes it effectively impossible to do at scale.”

DoorDash announced in January it would start delivering hemp-derived THC products in select states. Read our January 10 newsletter for more.

The smell of weed is wreaking havoc across California | SFGate

How Virginia is becoming more like California and New York: All have unlicensed cannabis stores | Cardinal News