Supreme Court Says No to Cannabis Prohibition Challenge
TDR Trade to Black, presented by Dutchie, tackles the conversation around cannabis reform that has been evolving since Friday. Michael Bronstein returns to the show to share the latest signals coming out of Washington after reports surfaced late last week that President Donald Trump is considering an executive action to move cannabis from Schedule I to Schedule III. We’ll also tackle the Supreme Court’s decision not to challenge cannabis prohibition.
With a full weekend of political reaction now on the record, the question is what’s changed — and what hasn’t. The panel breaks down two new developments first reported by Marijuana Moment. In one, a US senator dismisses the rescheduling effort as political positioning, while Democrats push again for full federal legalization. In another, the US Supreme Court declines to hear a challenge from marijuana companies seeking to overturn federal prohibition — keeping the existing legal framework firmly in place for now.
Shadd Dales and Anthony Varrell discuss the mounting media coverage, market volatility, and political signaling following comments from President Donald Trump. A reporter’s direct question to Trump on Friday reignited market momentum, briefly halting MSO stocks before prices settled, reinforcing how sensitive the sector remains to federal action.
Michael Bronstein, President of the American Trade Association for Cannabis and Hemp, says that Trump’s response resembled prior “trial balloon” tactics used before major policy moves. The absence of outright denial from the administration, combined with increased opposition messaging from conservative groups, suggests internal alignment rather than hesitation. The conversation also addresses Democratic pushback, particularly Senator Ron Wyden’s comments that rescheduling does not go far enough.
Market activity reflected growing investor interest, with MSOS trading approximately 42 million shares and underlying MSOs posting volumes well above averages. The Supreme Court’s decision to decline Cannabis Provisions v. Garland, which challenged federal prohibition is disappointing. However, Bronstein emphasizes that the Court did not rule on the merits and that legal pressure remains important as policy evolves.
Be sure to catch the full episode when you tune in.
