🏦 American Bankers Association Urges Congress to Pass Cannabis Banking
TerrAscend to Acquire Aunt Mary’s Dispensary (Flemington, NJ) for $9M. Vireo Growth Enters Pennsylvania With ~$20M JV Deal. Expanded Medical Sales in Georgia.
🌿 Industry
American Bankers Association Urges Congress to Pass Cannabis Banking. The ABA called marijuana banking legislation more urgent given shifting hemp definitions and medical rescheduling, warning state-licensed proceeds are likely to rise substantially. — Marijuana Moment
Wyoming opts out of federal marijuana rescheduling. The Wyoming Attorney General said that the reclassification of medical marijuana under federal law does not apply in his state. — MJBizDaily
In Wyoming, state drug laws generally follow federal law. However, Wyoming state law also allows the state attorney general to object
AG Keith Kautz justified his objection on two facts:
There are only three FDA-approved marijuana products, and all three are already scheduled
Wyoming lawmakers have not legalized medical cannabis
“The question of whether to remove any type of marijuana from Schedule 1 of the Wyoming Controlled Substances Act is for the Wyoming Legislature and should not be done through the administrative rulemaking process. As stated in the original objection to the rescheduling, the decision to reschedule medical marijuana and marijuana products is an important policy decision that is best left with the Wyoming Legislature and should not be done through the administrative rulemaking process.” Kautz said in a press release
Cannabist Ruling Opens U.S. Bankruptcy Access for Cannabis. For the first time, a U.S. bankruptcy court recognized a foreign (Canadian CCAA) proceeding and extended Chapter 15 protections to a company’s U.S. state-legal cannabis subsidiaries— MJBizDaily
Michigan Supreme Court: Courts Can’t Ban Marijuana as a Probation Condition. The Michigan Supreme Court ruled trial courts can no longer prohibit legal marijuana use as a condition of probation. — Marijuana Moment
Cannabis Stocks Rally Into the Hearing. The AdvisorShares Pure US Cannabis ETF (MSOS) hit its highest level of 2026 as investors piled in ahead of the DEA hearing, with Trulieve’s landmark NYSE listing adding fuel. — Yahoo Finance
AMA Adopts New Marijuana Resolutions. The American Medical Association’s House of Delegates adopted resolutions recognizing the therapeutic benefits and risks of marijuana for older adults while advocating a ban on flavored cannabis vapes. — Marijuana Moment
380M+ Now Live Under Some Form of Legal Cannabis. The latest UN World Drug Report finds more than 380 million people now live in jurisdictions with some legal regulation of non-medical cannabis. — IDPC
89% of Dispensary Revenue Comes From Loyalty Members—Yet Most Never Activate the Rewards That Drive Repeat Sales. New Sweed Data Reveals That Dispensaries Don’t Have A Pricing Problem—They Have An Engagement Problem.
That's according to new Q1 2026 benchmark based on 2.1M cannabis shoppers and $452.5M in retail revenue across active dispensary loyalty programs
Loyalty members represent 81.7% of active customers and generate 89% of revenue. But despite enrollment growing ~35% YoY, fewer than one in four new members earn their first loyalty point, and just 6.6% reach their first redemption
Survey: THC Drinks Are Pulling Share From Alcohol. A new Crescent Canna survey (1,637 THC-beverage triers, May 29–June 11) found 77% drink less alcohol since trying THC drinks — 37% “much less,” 19% “slightly less,” and 21% quit alcohol entirely — Marijuana Moment
44% call THC drinks part of a regular wellness routine
On the looming ban, 87% are aware, 27% are already stocking up (41% more plan to), and if it hits, 67% would switch to other cannabis forms while 23% would drink more alcohol
Channel: 63% buy online, 26% at grocery/liquor/convenience
Poll: THC Drinks Drive Restaurant Choice. A NuggMD poll found cannabis consumers are overwhelmingly more likely to dine at restaurants that offer THC drinks as an alcohol alternative. — Marijuana Moment
💵 Deals
TerrAscend to Acquire Aunt Mary’s Dispensary (Flemington, NJ) for $9M. TerrAscend will commit $3M via a five-year 6% unsecured convertible note with an option to buy a 35% stake, plus $6M cash on exercise. Executive Chairman Jason Wild cited the shop’s ~$10M annualized revenue and brand/vertical-integration upside (Kind Tree, Legend, Valhalla, Cookies); it’s TerrAscend’s second Hunterdon County store after Union Chill.
Vireo Growth Enters Pennsylvania With ~$20M JV Deal. Vireo Growth is teaming with Hive Holdings (JV “Vive Penn”) to acquire FarmX/PhytoNatural, holder of a nonoperational retail license good for up to six PA medical dispensaries — $8M cash at closing plus ~645,161 Vireo shares issued in two years. The deal takes Vireo to 11 states; it now runs ~170 dispensaries and grew 2025 revenue >250% to $268.7M.
📄 Company Updates
Glass House Brands Completes First International Hemp Sale. Glass House Brands (NYSE: GLAS) sold smokeable CBD biomass from its Camarillo Greenhouse 4 into Europe — its first product sold outside California — with the crop positioned to remain sellable under the proposed federal intoxicating-hemp ban and to supply a potential Medicare-reimbursable CBD program.
Trulieve Proposes Reincorporation From British Columbia to Delaware. Trulieve has proposed redomiciling from B.C. to Delaware to better align its structure with its U.S. operations, with a shareholder vote set for Aug. 5.
🏬 Retail
Georgia Pharmacies and Dispensaries Begin Expanded Medical Sales. Georgia dispensaries rang up their first legal sales of cannabis flower on Wednesday, July 1 — the first day of newly expanded medical access that also brings independent pharmacies into the program.
Speakeasy Dispensary Expands to Corbin, Kentucky. This is Speakeasy’s fifth Kentucky location. The company also operates two dispensaries in Arkansas.
Trulieve Targets September for 3 Texas MMJ Stores. Trulieve filed renovation plans for medical dispensaries in Austin ($250K buildout), Dallas and San Antonio ($200K each), targeting September openings after receiving conditional approval for a Texas Dispensing Organization license.
Curaleaf Launches End-to-End Spanish-Language Retail Experience. Curaleaf rolled out a bilingual app, website, kiosks, print materials and Spanish-speaking staff tags across every state it serves — first tested in Florida — targeting the ~45M U.S. Spanish speakers.
🌱 Product
Flowhub Launches MCP Connector, Giving Retailers the Freedom to Innovate with AI. Flowhub MCP allows dispensary operators to connect their Flowhub account directly to AI tools they already use, including ChatGPT, Claude, Gemini, Grok, Perplexity, and Cursor, so they can take action inside Flowhub using natural language.
RYTHM x Mothership 7/10 Glass Collaboration. For the concentrate holiday, RYTHM (GTI) partnered with glass-art collective Mothership on a sweepstakes to christen a custom $25,000 dab rig at the RISE Mundelein consumption lounge.
ButACake Recalls Peach Elixir THC Beverages. ButACake recalled select Peach Elixir THC beverages over packaging concerns.
🧔 People
Missouri Cannabis Workers Notch Union Wins as Organizing Spreads. Workers at more Missouri marijuana businesses are winning union fights following a precedent-setting NLRB ruling. High Profile Cannabis dispensary workers in Columbia last week unanimously ratified what union officials say is the state’s first collective bargaining contract for cannabis workers, securing higher pay and paid vacation time.
🎙️ Interviews
Trade to Black — “What’s Happening Across Southern States in Cannabis?” (ft. Hirsh Jain). Hirsh breaks down the South: Virginia’s adult-use passage, Georgia’s medical expansion, Texas’s climbing patient counts, Louisiana’s strong program, and Arkansas’s high per-capita usage. And the SCOTUS cannabis/gun-rights decision.
High Spirits — Eddie Brennan of ayrloom + DEA Hearing Debrief. Eddie on scaling New York’s top-selling beverage/vape brand to $75M+ in retail through true vertical integration and CPG discipline — plus PAX Chief of Staff Laura Fogelman’s boots-on-the-ground notes from day one of the DEA rescheduling hearings.
Trade to Black — Canopy Growth’s Year of Reinvention. How Canopy Growth has cut debt, stabilized revenue, and rebuilt international momentum under Luc Mongeau.