#218 – Descheduled Cannabis, Rescheduled Fentanyl & The Illinois Tax Trail

The Cole Memo

In this episode of The Cole Memo, Cole breaks down a whirlwind of news from the local to the federal level. He starts with a look at Texas, where Governor Abbott is calling a special session that could lead to new restrictions on hemp—but without banning it outright. Then, Cole dives into the newly signed HALT Act, clearing up confusion about fentanyl scheduling and questioning the long-term consequences of doubling down on prohibition. Back in Illinois, Cole highlights a detailed report on how intoxicating hemp remains unregulated despite multiple legislative attempts, with deep divisions even within the hemp industry. He explains how 50mg THC sodas can legally be sold outside dispensaries, discusses competing hemp bills, and revisits his interview with Rep. La Shawn Ford. To close, Cole spotlights where Illinois cannabis tax dollars are actually going—down to the dollar. Watch video version and read full show notes here: https://thecolememo.com/2025/07/17/e218/