Hosts Shadd Dales and Anthony Varrell catch up with cannabis lobbyist Don Murphy and psychedelic advocate Matthew “Whiz” Buckley in this latest episode of Trade To Black for April 30, 2025. Don Murphy unpacks what Trump’s new DEA nominee, Terry Cole, said during his Senate confirmation hearing, and what this potentially means for cannabis policy. Whiz Buckley shares updates on another key issue: veterans’ access to psychedelics for assisted therapies.
First up, President Trump’s nominee to lead the DEA, Terry Cole, stated during his Senate confirmation hearing that reviewing the federal proposal to reschedule cannabis will be “one of [his] first priorities” if confirmed.
While Cole did not endorse the move to Schedule III under the Controlled Substances Act, he emphasized it’s “time to move forward” on what’s become a delayed and politically sensitive process. Stocks spiked initially before settling down, with MSOS closing above $3 and strong volume trading.
Guest Don Murphy, who was in the room for Cole’s hearing, confirmed that Cole referenced the HHS report and the LLC memo legitimizing the scientific rationale behind rescheduling. He characterized the momentum as genuine and called it a “net positive,” noting Cole’s comments signaled a clear intention to act. Bernie Moreno is now taking over SAFE Banking responsibilities from Senator Steve Daines, with Ohio unexpectedly becoming a hotbed of reform activity. Murphy emphasized that even skeptical Republicans like Tom Tillis are beginning to acknowledge the policy disconnect between federal and state laws.
In the second half, guest Matthew “Wiz” Buckley joined to discuss psychedelic therapies, especially Ibogaine, and the failure of the administration to act on veteran suicide. As the Trump administration’s second term hits 100 days, VA Secretary Doug Collins acknowledged that psychedelic-assisted therapies like MDMA and ibogaine are finally on the table, even mentioning them during a historic Cabinet-level meeting. The conversation is heating up—on cannabis reform, marijuana stocks, and veteran health.
Tune in to hear the full episode.
