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Has Donald Trump Doubled Down On Cannabis?

By Shadd Dales On Sep 9, 2024

Coming up on our latest Trade To Black podcast for Monday, September 9, 2024, Shadd Dales and Anthony Varrell will be joined with Sunburn Cannabis CEO & Washington Cannabis Correspondent Brady Cobb to discuss Donald Trump’s latest Truth Social post on the subject of marijuana legalization. Then we then switch to the mental health industry, where atai Life Sciences Founder & Chairman Christian Angermayer joins us to shed light on the recent announcement made last month by the FDA and their decision to decline approval of novel MDMA therapy for treating PTSD, as submitted by Lykos Therapeutics.

Last week, the FDA declined approval for MDMA-assisted therapy for PTSD and asked the drugmaker Lykos to complete another clinical trial to prove its safety and efficacy. Their response has left many investors feeling uncertain about the results of other current research trials in the industry, possibly changing how big pharma is currently viewing the industry as a whole moving forward. Founder Christian Angermayer of atai Life Sciences (NASDAQ: ATAI) and the team discuss the implications.

Approximately a week after his first post indicating the possibility of a softer stance on cannabis, Donald Trump took to Truth Social again to expand his political leaning. “As a Floridian, I will be voting YES on Amendment 3 this November,” Trump wrote, “As President, we will continue to focus on research to unlock medical uses of marijuana to a schedule 3 drug, and work with Congress to pass common sense laws.”

In his post the former President says that he believes now is the time to end arrest and incarcerations of adults for personal use, however he still emphasized that state laws should regulate the drug to avoid impacting the community with its presence and smell.

Shadd, Anthony, and Brady Cobb discuss what impact Trump’s post will have on the election and the cannabis industry. With Amendment 3 now explicitly endorsed by Trump, he sets himself against Florida Governor DeSantis who only hours earlier told people at a Tallahassee church that Amendment 3 was a move made by a cannabis company to create a legal drug cartel in the state.

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.