Which logic are you saying “can’t encode the speculative moment”?

I think the two logics can emulate one another? Or, at the very least, can describe what the other concludes. I know intuitionistic logic can have classical logic embedded in it through some sort of “put double negation on everything”. I think if you add some sort of modal operator to classical logic you could probably emulate intuitionistic logic in a similar way?

You don't even need to add a modal operator since modal logic itself can be embedded in classical logic via possible-world semantics. Of course the whole thing becomes a bit clunky - but that's the argument for starting with intuitionistic logic, where you wouldn't need to do that.

Any logic with LEM