In a leaked audio recording of US President Donald Trump, the world leader hinted at a possible solution to the banking issues for cannabis in the country, while also bashing the effects of the drug, a new report indicates.

“Cannabis, look, you’re talking about marijuana, right?” Trump said in a response from a conversation with Lev Parnas, a Soviet-born businessman working alongside Trump’s associate and lawyer Rudy Giuliani. “You can’t do banking there?”

Parnas’ tape, including various comments from Trump, was publicly shared by his lawyer, according to CNN. The audio is reported as having taken place during a donor dinner held by the president in 2018. Parnas is being linked to the current impeachment inquiries held against Trump.

US Election 2020 and Cannabis

Investing in cannabis? Read what experts have to say about cannabis and the US Election!

A report from Forbes indicates Parnas asked Trump about the issues of banking related to the emerging marijuana industry. Due to the federal illegality of the drug, the industry in the US has faced a roadblock when attempting to engage the banking industry and other established services.

Companies operating in the US do so in states where it has been legalized on the state level, allowing the business of marijuana to expand. However, companies must manage their operations in each state separately those in other states.

In the tape, while discussing the banking issue, Parnas affirms: “That’s the biggest problem, because none of the banks accept the money.”

“(It is) all working out. That whole thing is working out,” the president replied. “I don’t know if that’s a good thing or a bad thing.”

The conversation also turned towards the actual impacts of marijuana use per the president’s views.

“In Colorado they have more accidents,” Trump said while discussing the drug with Parnas. “It does cause an IQ problem.”

A 2019 study in the journal Addiction indicated deaths related to traffic accidents increased for a period of time following the legalization of recreational cannabis use in Colorado, Oregon and Washington state. The study noted there were 170 additional deaths in the six months following legalization. However, the effect did not last long, and according to the results, those numbers returned to normal a year after.

There have been conflicting results on the impact of marijuana legalization on impaired driving accident rates. According to a report from The Verge, there have been dueling studies showing both significant upticks in crashes and no real consequential changes.

Colorado legalized the recreational use of cannabis in 2012. Colorado Senator Cory Gardner has become an advocate of the industry from within the Republican party and has attempted to sway the president regarding the opening of the industry for businesses in the US.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Strong Innovation Pipeline Continues to Drive Market Share Growth
Broken Coast’s First Foray into Cannabis 2.0
Solei Introduces First Limited Release Vape on the Market
Solei, RIFF, Good Supply and B!NGO Expand Product Offerings

Aphria Inc. (” Aphria ” or the ” Company “) ( TSX: APHA and NASDAQ: APHA ), a leading global cannabis company inspiring and empowering the worldwide community to live their very best life, today announced the expansion of its 510 Vape offering across its award-winning adult-use brand portfolio.

Keep reading... Show less

Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Aurora Cannabis Inc. (NYSE: ACB) between February 13, 2020 and September 4, 2020, inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court before the December 1 2020 DEADLINE . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

To join the class action, go to or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email for information on the class action.

Keep reading... Show less

Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf Solutions“, “OILS”, or the “Company”), Canada’s most innovative cannabis extractor, is pleased to provide the following commercial and intellectual property update:

Cannabis Extraction Agreement with White Label Producer

Keep reading... Show less


Khiron Life Sciences Corp. (“ Khiron ” or, the “ Company ”) (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, is pleased to announce that it has closed today its previously announced “bought deal” short form prospectus offering of units (“ Unit s ”), including the exercise in full of the over-allotment option (the “ Offering ”).

Keep reading... Show less

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the “Company”), an innovative global cannabinoid company, today announced that Mike Gorenstein, Executive Chairman, is scheduled to speak on a panel at the Cowen 2020 Boston Cannabis Conference on Wednesday, December 2, 2020 at 9:20 a.m. EST.

For more information regarding the Cowen 2020 Boston Cannabis Conference please visit:

Keep reading... Show less