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Hey everyone! Pato Liddle writing today. As we gather this Thanksgiving, it's worth remembering hemp's foundational role in American history: from fortifying the sails of the Mayflower to fueling the spirit of independence. Hemp was more than a crop, it was a symbol of resilience and innovation, championed by figures like George Washington. Today, it's poised to reclaim its place at the heart of American industry, offering sustainable solutions from textiles to bioplastics. With that said, let's get started with our topics for today!

Pardoned Turkeys And Lame Ducks

While President Biden spared turkeys Peach and Blossom this Thanksgiving, thousands of non-violent cannabis prisoners remain behind bars despite his promise to pardon all federal offenses of simple marijuana possession. It's been over two years since that announcement, yet not a single individual has been released—a glaring oversight that advocacy groups like the Last Prisoner Project call a "gross injustice."

Meanwhile, Congress struggles to pass meaningful cannabis reform. Senate Majority Leader Chuck Schumer faces mounting pressure to pass the SAFER Banking Act during the lame-duck session. But with incoming Republican leadership showing little appetite for cannabis reform, the clock is ticking. This holiday, justice remains one promise stuck on the back burner.

DEA Rescheduling Process: Gossip, Bias And Exclusions

Picking up from yesterday's DEA double trouble, new developments deepen the controversy. The DEA denies allegations of improper communication with anti-cannabis group Smart Approaches to Marijuana (SAM) during the cannabis rescheduling process, dismissing the claims as "gossip." While admitting to conversations with SAM's CEO Kevin Sabet, the agency insists these were lawful and not ex parte communications. 

Meanwhile, DEA Administrative Law Judge John Mulrooney denied MedPharm's motion to participate in the upcoming December 2 hearing, citing statutory limits on his authority. MedPharm, a DEA-registered research firm, criticized the process as biased due to the exclusion of marijuana researchers and inclusion of prohibitionist groups. As the hearing approaches, some argue these actions cast doubt on the DEA's neutrality and the fairness of the rescheduling debate.

Wins And Setbacks In Cannabis And Psychedelics

Canadian producer Cannara Biotech reported a stellar 43% YoY revenue growth in FY 2024, reaching CA$82.2M. By securing a 3.2% national market share—12.6% in Québec—Cannara cemented itself as a leader in a challenging market. The company plans to expand its product line in 2025, targeting innovative formats like infused pre-rolls and vape devices.

Meanwhile, Decibel Cannabis raised $1.18M in its latest private placement, fueling its integration of AgMedica BioScience, projected to generate $30M in net revenue next year.

In the psychedelics realm, Enveric Biosciences advanced its non-hallucinogenic DMT analog, EB-003, targeting anxiety and depression. Promising preclinical results and robust patent protection position the company as a key player in the $35B neuroplasticity market by 2030. Conversely, COMPASS Pathways faced a $43 million market cap decline, putting pressure on institutional investors who hold 30% ownership.

Elon Musk, Pablo Escobar And A Meme-Fueled Debate

One of Elon Musk’s latest tweets—a meme of Pablo Escobar smoking weed to celebrate Donald Trump’s election win—has sparked online debates about his cannabis advocacy, political alignment with Trump, and the irony of invoking actor Wagner Moura, a progressive critic of authoritarianism. Dive into Javier Hasse's article for all the intriguing details.

If you enjoyed today's Cannabis Daily, please share it with friends and fellow enthusiasts!

Stories In The Spotlight:

• Canopy Growth's German Subsidiary Teams Up With Portugal's Gro-Vida To Expand Medical Cannabis Supply

• Czech Government Approves Draft Law That Would Legalize Cultivation Of 3 Cannabis Plants, Possession Of 50 Grams

• Minnesota's Cannabis License Lottery Faces Legal Delays Over Rejections Dispute

• More Paid Holidays For Cannabis Workers At Zen Leaf Dispensary Through Agreement With Teamsters

Our Writer Today

Patricio is a development economist with extensive experience in IT, finance, and banking. He writes about the economic and social opportunities obscured by over half a century of failed drug prohibition. Beyond his professional expertise, Pato is a committed advocate for social change, passionately working to promote harm reduction and reform drug policies.

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