32 AGs Demand Reform – Will Trump Reschedule?
Eyes remain on Washington and whether an announcement is going to be made soon on the rescheduling of cannabis. On the latest episode of Trade To Black presented by Dutchie, host Shadd Dales and co-host Anthony Varrell break down the latest signals from the Trump administration and what the timing of a move could mean for the cannabis industry. This episode also dives into the major push from 32 state attorney generals who have formally urged Congress to pass marijuana banking reform.
The move underscores broad recognition that locking cannabis businesses out of the financial system creates safety risks and tax inefficiencies, with billions in potential revenue lost to cash-only operations. 32 state attorneys general sign a bipartisan letter urging Congress to pass marijuana banking legislation is one of the strongest calls yet for change in how the cannabis industry accesses financial services — and it raises the question of whether Congress is finally ready to act. While cannabis companies already use some banks, unfair practices remain. The industry isn’t seeking handouts—just legitimacy.
At the state level, important storylines continue to unfold. In Missouri, activists are preparing a ballot initiative that would unify marijuana and hemp regulations, setting up a possible 2026 vote. Missouri’s adult-use program has already surpassed revenue projections, and this new measure could eliminate the regulatory gap between hemp-derived products like Delta-8 and state-licensed cannabis.
Meanwhile, in Pennsylvania, Governor Josh Shapiro has made it clear he won’t back down from his adult-use legalization push, despite continued resistance from GOP lawmakers. With two-thirds of residents—and even a slim majority of Republicans—now supporting legalization, the financial stakes are high. Estimates suggest $500–700 million annually in tax revenue, much of it earmarked for mass transit and education.
It’s a timely episode that captures the federal and state-level developments most closely watched by operators, investors, and advocates.
