In a recent episode of the Trade To Black podcast, host Shadd Dales and co-host Anthony Varrell discussed the latest developments regarding cannabis policy in Washington. Despite initially supporting cannabis rescheduling and banking reforms during his campaign, the Trump administration now seems to be stepping back from these proposed changes. This comes as Florida’s legalization campaign faces accusations of election law violations.
MindMed CEO Robert Barrow joined the podcast to talk about the company’s Phase 3 trials for MM120, a proprietary compound derived from LSD aimed at treating Generalized Anxiety Disorder (GAD). MindMed has raised $250 million and extended its financial runway to 2027 while entering three concurrent Phase 3 trials. Barrow noted that data from the 2023 Phase 2 trials indicated significant efficacy and led to a breakthrough therapy designation from the FDA, with results from Phase 3 expected in 2026.
Rumors circulating in Washington, particularly from CNN, suggest that the White House is not currently considering cannabis rescheduling. This raises questions about whether the Trump administration is truly backing off its stance on cannabis or if they are simply managing the narrative for a potential policy shift in the future.
In Florida, the situation appears contentious as the Office of Election Crimes is investigating alleged fraud related to adult-use cannabis petition campaigns. This may be a response to a previous lawsuit against the Florida GOP. Both podcast hosts expressed skepticism about the possibility of legalization proceeding as long as Governor Ron DeSantis remains in office, despite the presence of major cannabis taxpayer Trulieve in the state.
Listeners can expect more insights and detailed discussions on these topics in the podcast episode.
