In our latest Trade to Black podcast, host Shadd Dales and Anthony Varrell welcome back attorney Shane Pennington to unpack the legal realities behind the week’s biggest cannabis headline: Donald Trump’s DEA nominee, Terry Cole, stating that marijuana rescheduling will be “one of [his] first priorities” if confirmed.
But what does that actually mean?
Pennington breaks it down in layman’s terms—clarifying where we are in the current rescheduling and appeals process. Is the ALJ hearing dead, or just paused? If it’s not over, can Cole pick up where things left off and move the process forward? And if it is dead, could the new administrator bypass the administrative hearing entirely?
Shane also weighs in on whether Trump’s public support for medical cannabis could influence Cole’s decision-making, and whether cannabis advocates should adjust their legal strategies under this administration.
Plus, Saphira Galoob of the U.S. Cannabis Roundtable joins the show to analyze Congress’s latest moves—SAFE Banking, the STATES 2.0 Act, and the PREPARE Act—and what Trump’s renewed pressure could mean politically.
Plus, Dan from The Chart Guys joins us to break down the recent price action across cannabis stocks. He shares his take on whether this week’s policy announcements could trigger a short-term rally, and what traders and investors should be watching as we head into next week.
0:00:00 – Intro
Saphira Galoob’s Interview
0:02:34 – Discussion of the States Act and Prepare Act
0:09:32 – Incremental steps in cannabis reform
0:11:51 – Momentum building in Washington
0:13:26 – Potential impact of rescheduling
0:16:06 – Legislative process and momentum for cannabis reform
0:19:15 – Terry Cole on marijuana rescheduling
0:20:39 – Managing Expectations for Cannabis Legislation
0:21:26 – Potential Timeline for Cannabis Legalization (2028-2029)
0:22:30 – Cannabis Company Debt Maturities and Financial Strategies
Shane Pennington’s Interview
0:23:28 – Terry Cole’s DEA Nomination and Marijuana Rescheduling
0:26:18 – First Steps in Rescheduling Process
0:28:35 – Review Group and Scientific Assessment
0:33:29 – Legal Implications of HHS Recommendation and OLC Opinion
0:35:39 – Cannabis: Current vs. Previous Administration’s Approach
0:37:04 – Interview Wrap-up & Takeaways
Cannabis Stocks Analysis
0:40:29 – MSO Stock Volume Trends
0:46:03 – GTI Chart Breakdown
0:47:13 – Tilray Bearish Outlook
0:51:21 – SHFS Quick Overview
0:53:19 – Canopy Growth Analysis
0:54:24 – Investor Emotion Discussion
0:55:42 – Wrap-up & Takeaways
#CannabisRescheduling #DEA #TerryCole #CannabisLaw #MarijuanaReform #TradeToBlack #SAFEBanking #STATESAct #CannabisPolicy #CannabisNews #CannabisStocks #CannabisBanking
Want to see last week’s recap?
https://youtu.be/zIxS0HSu7ag
Want to see more Cannabis Reform videos?
https://youtu.be/ri_7Td7MfL4
https://youtu.be/PFgwMDjQfbs
https://youtu.be/o5vypb4MMGs
https://youtu.be/UyYjK5NHKtM
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