Happy Tuesday, Cannabis Investors! In a recent interview, Senator James Lankford (R-OK) revealed he believes he has cracked President Biden’s ulterior motive behind his recent move to reclassify marijuana.

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TOP STORY

Brooklyn Raid: Millions In Illegal Cannabis Seized

Briefly: What started as a basic 911 burglary call early Saturday morning led to the seizure of millions of dollars worth of illegal cannabis products stored in a huge unmarked warehouse in Brooklyn.

So Basically: The New York City police department and the City Sheriff’s Office confiscated products that were destined for the city's thousands of illicit weed shops, according to the Mayor’s Office.

So Then: Those departments are part of Mayor Eric Adams' Operation Padlock, a sustained multi-agency enforcement effort to shut down illegal smoke and cannabis shops across the Big Apple’s five boroughs.

So What: Operation Padlock recently closed down 75 illicit shops and issued some $6 million in fines. Saturday’s Brooklyn raid was the largest undertaken by the task force to date.

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ZINGERS

Marijuana Extraction Company Ayurcann Reports 127.7% YoY Revenue Growth For The Third Quarter

Bearish Sentiment Across The Cannabis Space — Check Full Movers

Entourage Health Cannabis Reports 9% YoY Increase In Q1 Revenue, Positive EBITDA And 'Substantial Growth'

Marijuana 'Kept Me Sober' Says Jelly Roll, Rapper-Turned-Country Star Who Overcame Addictions To Become Music Award Winner

Canadian Edibles Producer Indiva Reports Modest Q1 Results, Eyes Strong 2024 After Strategic Realignments

ONE MORE FOR THE ROAD

Cannabis Researcher On Marijuana Rescheduling — 'Knowledge Gap' Is Huge

Briefly: It will take more than rescheduling to bridge the “knowledge gap” in the cannabis industry says Portland State University professor Dr. Robert Strongin.

What It Is: The “knowledge gap” refers to the lack of funding and overall support for research in the cannabis industry.

What’s Happening: In mid-May, the White House formally announced the move to reschedule marijuana. The change, which is now in the DEA's 60-day public comments period, could greatly benefit this important scientific field.

Why It Matters: The field of research has faced daunting hurdles due to marijuana’s classification as a dangerous substance along with the likes of heroin and meth.

However: "The gap between the prevalence of cannabis use and what we now know about the potential harms and/or benefits continues to be huge. I think it will take more than rescheduling to effectively bridge the knowledge gap," Strongin told Benzinga in an exclusive interview.

Click here to read more.

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