The Cole Memo

In this episode of The Cole Memo, Cole Preston breaks down what’s happening during Illinois’ fall veto session — and why major cannabis reforms still aren’t moving forward. From mislabeled dispensary products and potency inflation to Target and Circle K now selling THC beverages, Cole covers the latest stories shaping cannabis policy in Illinois and beyond. Later, he’s joined by Cornbread Hemp co-founder Jim Higdon to discuss a proposal in Congress that could outlaw hemp-derived products nationwide. They unpack how this would affect consumers, businesses, and the future of descheduling cannabis. The episode closes with a live call-in from a grower discussing Illinois’ medical program, caregiver models, and the fight for expanded homegrow rights. Watch video version and read full show notes here: https://thecolememo.com/2025/10/24/e233/

A new cannabis lawsuit with sharp allegations in Illinois, taxes might increase in Michigan’s cannabis market, and possible federal action on cannabis policy—we’ll cover it all in this live stream. View show notes here: https://thecolememo.com/2025/10/03/e232/

In this episode of The Cole Memo, Cole shares important updates that affect medical cannabis patients in Illinois, including new allotment equivalencies, upcoming changes to dispensary access, and the launch of a patient portal. He also recaps key takeaways from the latest Medical Cannabis Advisory Board meeting, where patients and advocates voiced frustrations with the lack of progress over the last decade. The episode then shifts to Governor Pritzker’s latest comments on hemp and the ongoing debate over whether federally legal cannabis products should be restricted to dispensaries. With stakeholders from the hemp industry weighing in, this conversation highlights the growing divide between patient needs, market access, and state policy. Watch video version and read full show notes here: https://thecolememo.com/2025/09/20/e231/

In this impromptu live episode of The Cole Memo, Cole covers a recent raid in Illinois that sparked a bigger conversation about hemp regulation across the country. With Governor Pritzker voicing concerns about youth safety and Governor Abbott issuing an executive order in Texas to ban hemp sales to minors, the debate is heating up. Should hemp remain freely accessible, or should states impose age gates, testing, and labeling requirements? Cole explores these questions, the partisan crossover between Abbott and Pritzker, and the broader implications for cannabis regulation in Illinois and beyond. Watch video version and read full show notes here: https://thecolememo.com/2025/09/13/e230/

In this episode, we mainly watch the live MAPS press conference that I was invited to, where leadership addressed the FDA’s newly released complete response letter rejecting MDMA assisted therapy for PTSD. You’ll hear their perspective on shifting standards, trial design disputes, and what this decision means for the future of psychedelic medicine. To set the stage, I begin with a clip from Hamilton Morris on drug journalism and the FDA’s rejection of MDMA therapy, then we tune into the full press conference. Links to the FDA letter, my article covering the decision, and outside analysis are included in the show notes. Watch video version and read full show notes here: https://thecolememo.com/2025/09/05/maps-fda/

In this episode of The Cole Memo, we dig into the fallout from ABC7 Chicago’s latest report on the University of Illinois Chicago’s forensic testing lab. Flawed cannabis DUI testing has put thousands of convictions under scrutiny, raising serious questions about oversight and justice in Illinois. We also look at the ongoing debate around cannabis rescheduling at the federal level, including recent comments from President Trump and reactions from industry leaders and opponents alike. Plus, updates on the Texas hemp ban and another troubling Illinois cannabis raid highlight how prohibition still lingers despite legalization. Watch video version and read full show notes here: https://thecolememo.com/2025/08/29/e228/

The Three Dope Dudes are back, this time combining forces like a cannabis Megazord to bring you a packed summer wrap-up. From Illinois craft showcases and brand shoutouts to the real talk on seed-to-sale tracking systems, monopolization, and THC inflation, no topic is off-limits. We explore the politics of hemp versus marijuana, unpack the latest on potential federal rescheduling, and share why consumer education still matters in a market driven by numbers over nuance. With a mix of policy insight, personal stories, and industry news, this conversation goes beyond the headlines to examine where cannabis is now—and where it might be headed next. Watch video version and read full show notes here: https://thecolememo.com/2025/08/12/e227/

In this episode of The Cole Memo, Cole speaks with Luke from Smart Approaches to Marijuana (SAM) about President Donald Trump’s recent remarks on potentially rescheduling cannabis from Schedule 1 to Schedule 3. Luke shares why he believes marijuana should remain Schedule 1, citing concerns over corporate influence, public health, and the federal scheduling system’s criteria. The conversation covers Trump’s shifting tone on medical marijuana, potential tax benefits for the industry under Schedule 3, and what rescheduling could mean for state trigger laws and federal regulations. Whether you agree or disagree, this discussion offers a direct look at an opposing viewpoint in the ongoing national debate over cannabis policy. Watch video version and read full show notes here: https://thecolememo.com/2025/08/11/e226/

In this special episode of The Cole Memo, Cole breaks down breaking news on both the federal and state levels. At the federal level, President Trump has confirmed that his administration is “looking at” rescheduling marijuana, with a decision expected within the next few weeks. We review his comments, the political and industry reactions, and what rescheduling could mean for research, the cannabis industry, and 280E tax burdens. Meanwhile, in Illinois, the state has opened applications for the third round of its Cannabis Social Equity Loan Program, offering financial support to eligible licensees. Cole shares details on how to apply, resources for applicants, and more. Join the conversation as we explore what could be one of the most significant moments in cannabis policy in recent years. Watch video version and read full show notes here: https://thecolememo.com/2025/08/11/e225/

In this episode of The Cole Memo, Cole returns with a live broadcast covering breaking cannabis news from Illinois, Texas, and beyond. A surprise guest from Texas Cannabis Collective joins to unpack the whirlwind special session in Austin, where a proposed hemp THC ban collided with flood relief, redistricting fights, and a dramatic quorum break. Cole also dives into Illinois developments, including the closure of Air Wellness dispensaries, new rounds of social equity loans, and the legal loopholes allowing large operators to skirt dispensary caps. On the federal level, Cole covers the FDA’s move to schedule 7-hydroxy (7-OH) products under the Controlled Substances Act, ongoing Senate battles over hemp language in the farm bill, and Senator Rand Paul’s push for a more balanced regulatory approach. As always, the episode blends local insight, national context, and audience interaction to bring you the most engaging cannabis news coverage. Watch video version and read full show notes here: https://thecolememo.com/2025/08/10/e224/