Biden commits to cannabis reform

Plus, Trulieve sues ex-CFO, and more

Good morning.

Your friendly Editor-in-Chief Jeremy is back-in-action from Costa Rica!

It’s almost as sunny in NYC as it was there, so we’ll take it. 

Let’s get to it. 

- Jeremy Berke & Jay Rosenthal

💡What’s the big deal?

The President tells supporters he’s “taking care” of it

What happened: President Joe Biden told supporters he’s “taking care” of cannabis reform at a campaign stop in Wisconsin yesterday, according to a White House pool report

The comment was in response to a supporter’s sign that said “no one should be jailed” for marijuana. 

Why it matters: Biden highlighted cannabis reform at the State of the Union last week, and doubling down on it — publicly — means he’s serious. Cannabis is also an immensely popular issue. Nearly 70% of Americans support legalization, meaning that it could give Democrats a boost this upcoming election.

Vice President Kamala Harris is also set to host a cannabis reform roundtable at the White House today. 

What’s next: While nothing is yet set in stone, the federal government’s decision about cannabis rescheduling should be coming soon. Though, the ball is in the Drug Enforcement Agency’s court — and recent reporting shows that they haven’t settled on an outcome yet. 

And more: Thirty-six members of Congress are calling on Biden to grant clemency to all those locked up in federal prison for nonviolent cannabis offenses, Marijuana Moment reports


👊 Quick hits

Health and Human Services Secretary Xavier Becerra defended the Food and Drug Administration’s recommendation to reschedule cannabis to Schedule III in a Thursday hearing on Capitol Hill, after Republicans including Sen. John Cornyn questioned the recommendation, Politico reports.

Massachusetts Governor Maura Healey will pardon everyone in the state convicted of misdemeanor cannabis possession — which she expects to be “hundreds of thousands” of people, CBS News reports

The number of unlicensed Upper West Side weed shops has jumped 104% since 2022, The New York Daily News reports

Trulieve is suing its ex-CFO, Alex D’Amico, for between $350,000 - $400,000, alleging he “double-dipped” on the company’s expense management system for purchases including Legoland visits and Lululemon purchases, per Green Market Report.

🚀 Deals, launches, partnerships

Tilray is introducing a line of CBG-infused beverages, under its MOLLO brand. 

Dohler Ventures, the venture arm of German ingredients provider Dohler, is investing in and entering a strategic partnership with cannabis beverage-infusion technology company Vertosa to develop infused beverages and other products.

📖 What we’re reading

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