Yup. (.38 spl in a revolver) Melt about 25% beeswax and 75% paraffin in a shallow pan so it's about 1/2" deep. When it cools enough to no longer be clear, stand your deprimed cases in there mouth down and let it harden. Break them out, wipe off the outsides, and prime with a magnum pistol primer. Place in cylinder, fire at suitable backstop. Repeat until exhausted.
Bonus ideas
1) You might find that the fired primers are backing out and scraping on the recoil shield. The way to fix that is to drill out the flash hole with a 3/32 or even 1/8 drill bit in your cordless drill. But if you do this, you need some way to mark that case for wax loads only. I trim my wax load cases back to about 7/8" so I can easily see that they're shorter. If you reload .38 S&W also, you need a different method.
2) You might find that the wax pellets are flying into bits before they hit the target, or that the primer just blows a hole in the wax "bullet". The way to fix this is to change your mix a little. Melt the paraffin, then add some strips of yogurt lid or other meltable plastic. I've never gotten the plastic content above about 40%, but that's plenty to hold them together. Make sure it's mixed up good. Also, this is your chance to color the bullets if you want. I made some up for my ex-wife to shoot that were pink - she thought that was the cutest thing. Depending on your backstop, some bullets will be too deformed to reload, but some you can just stuff in another deprimed case.
3) My wax loads seem more accurate when I tamp them down against the primer with a dowel. I have no idea why.
Parker
ETA: Sam, if it sounds dumb to you, don't do it.