Jeff Schultz

NYC-based Cannabis Industry Attorney | Advisor | Advocate |

Partner, Foley Hoag LLP

Opinions are my own. None of my tweets should be considered legal advice.

[Jeff Schultz @JSchultz44]

I’m sure most of you have seen the tsunami of anti-legalization tweets flooding X. Clearly a coordinated effort-which, ironically often signals something big (and positive) is about to happen on the cannabis policy front. We all know what that is. But let me address the "weed is bad, so keep it criminal" crowd:

I agree-cannabis presents real risks for adolescents, and preventing youth access must be central to any federal cannabis policy. But the debate isn't about whether to protect minors. It's about which framework actually works.

The evidence does not show that legalization increases teen use. Several studies suggest the opposite. Where data shows higher reported use post-legalization, the most plausible explanation is improved survey candor-less fear of legal consequences means more honest answers.

What is firmly established: decades of prohibition have completely FAILED to prevent youth access, reduce consumption, or ensure product safety-while creating unregulated markets, empowering criminal enterprises, and inflicting disproportionate, multi-generational harm on minority communities.

A public health regulatory model-age restrictions, enforcement against unlicensed sales, product safety standards, education, and accountability-is far better aligned with protecting youth. Notably, the loudest prohibition voices on X seem disconnected from the communities most harmed by these policies and conveniently ignore the issue entirely.

Protecting children requires evidence-based regulation, not reflexive reliance on a framework that failed to protect them while devastating entire communities. If you don't want your kids to consume cannabis, ultimately it starts at home. If you really want to reduce underage access and promote safe, responsible consumption (all of which are a good ideas), then pretending criminal enforcement works won't get you there - but sensible regulation will. This is why we need to “legalize” cannabis by decriminalizing and regulating it.

[Jeff Schultz @JSchultz44]

@TobiasHuch What the hell is this?

[Jeff Schultz @JSchultz44]

The story is highly suspect. If you know anything about this team, or hockey generally, there is no way you’re thinking that trading away Barzal makes this team better in the short or long term, regardless of an equal return. This team has a surplus of bottom 6 guys. Love em, but not enough studs. And unfortunately, not many available right now. I would love to see Barzy on a line with Alex Tuch.

[Jeff Schultz @JSchultz44]

@Anthonys_Takes You’re comin’ in hot, Striker.

[Jeff Schultz @JSchultz44]

@Anthonys_Takes 🤣

[Jeff Schultz @JSchultz44]

It might be a troller burner account, I’m honestly not sure.

[Jeff Schultz @JSchultz44]

I have new favorite account on X. 🤣

[Jeff Schultz @JSchultz44]

@Anthonys_Takes Sorry I wasn’t clear. I’m not asking about case law. I’m asking why you’re confident about FinCEN guidance in the next ~30 days - because of the Robinhood data point or have you spoken to people in the administration or at Treasury?

[Jeff Schultz @JSchultz44]

Cannabis rescheduling could unlock U.S. exchange listings. Our latest breaks down what public company management teams need to know to get ahead of the curve. https://t.co/gK93gZQ0q6

[Jeff Schultz @JSchultz44]

@Anthonys_Takes What is the basis for your expectation?

[Jeff Schultz @JSchultz44]

@hicasamadim 72

[Jeff Schultz @JSchultz44]

@Mike_kim714 This kid right here caught the golf bug and wants to see you win it in person (so does his old man). 🙌

[Michael S. Kim @Mike_kim714]

Southampton NY isn’t the easiest place to get to so I might as well get this started early!

Ticket giveaway for the US open!

Bonus points if you take a kid
(12 and under are free)

[Jeff Schultz @JSchultz44]

@ninoboxer IYKYK

[Jeff Schultz @JSchultz44]

This is the most long-term undervalued card in this year's @UpperDeckSports 25-26 hockey set with Schaefer and Aitcheson together. IYKYK

#Isles

[Jeff Schultz @JSchultz44]

@CostaLefty65147 @DavidAsmanfox Depends heavily on the borough. 20% Manhattan, 30-50% of Brooklyn, and higher in other boroughs. However you look at it, this is WAY more than “the wealthiest NYers”. Disaster.

[Jeff Schultz @JSchultz44]

The bill doesn’t aim to cap revenue. It’s intended to stop the anti-competitive business practice of vertically integrating youth sports. Gunty owns AHF and THF, many of the rinks, and many of the clubs playing in the AHF and THF, along with Defender, a tourney sponsor. He controls the tuition price for many clubs, the price of ice time, the scheduling, the locations, team apparel (and pricing), and gets kickbacks for controlling where everyone stays. In addition to the Defender tourneys, AHF/THF teams play ~3 mandatory showcases each season, which are stay-to-play at hotels that pay him, with games at rinks he owns at times he decides. As BB acquires more rinks and clubs and folds them into AHF/THF, he leaves parents with fewer and fewer options. I’m watching kids who love the game and have talent get boxed out because of the cost.

That said, if this bill passes, BB will need to divest from some of these assets, and it’s not clear who if anyone will have the cash to buy, whether it’s clubs or rinks…and the maintenance expense of those rinks is not for the faint of heart. 😬 There is no problem with rink owners, club owners, and league owners making a profit from underwriting something there is massive demand for, but controlling ALL of those pieces together leads to runaway fees with diminishing alternatives. That’s what they’re trying to fix.

[Jeff Schultz @JSchultz44]

@jacquetnyc https://t.co/AFfryWZcnZ https://t.co/AFfryWZcnZ

[Jeff Schultz @JSchultz44]

@jacquetnyc Part 2:
https://t.co/bTyvQ3rpOl

[Jeff Schultz @JSchultz44]

@jacquetnyc https://t.co/hPkVa44eH7

[Jeff Schultz @JSchultz44]

@jacquetnyc Please DM me.