◀️CA Cannabis Excise Tax Going Back to 15% October 1st
TX Governor Signs Hemp Executive Order Setting Age Limit And Labeling Requirements. Curaleaf Joins S&P/TSX Composite Index. Headset adds e-Commerce data feed. RYTHM D9 goes nationwide.
🌿 Industry
CA Cannabis Excise Tax Going Back to 15% Next Month, Pending Governor's Signature. The Legislature passed a bill that will suspend the tax from increasing to 19% for three years as the regulated market struggles to compete. — CBT
California lawmakers didn’t act quickly enough to halt the state’s cannabis excise tax rate from increasing to 19% on July 1, but industry stakeholders celebrated a better-late-than-never victory on Sept. 10
The California Senate voted to approve an Assembly-passed bill that will roll back the increase to 15% starting on Oct. 1 and suspend the excise tax from going up again until at least June 30, 2028
Texas Governor Signs Hemp Executive Order Setting Age Limit And Labeling Requirements For THC Products. Abbott’s order requires DSHS and TABC to immediately start their rule-making processes to create the age limit, but does not prescribe when the restriction must take effect. — Marijuana Moment
Abbott’s order also doesn’t specify the age threshold and leaves that detail up to the agencies, though the governor has repeatedly called on lawmakers to prohibit such products for those under 21
As part of its 149-page proposal, HB 309 also included restrictions like banning the sale of hemp products within 1,000 feet of a church or school and on Sundays, similar to restrictions on liquor
It also outlawed manufacturers from selling smokeable flower hemp, something Abbott asked the Legislature to do in his call for the second special session that ended last week. Texas banned the sale of THC vape pens this month
NY Reaches Temporary Agreement on Cannabis Dispensaries’ Distance from Schools. The state of New York apparently has consented to a court injunction temporarily prohibiting it from changing its interpretation of its own rules on how far a cannabis dispensary must be from a school or house of worship. — JD Supra
Gov. Kathy Hochul and lawmakers have said they will amend the law to allow the owners to stay put, and the Office of Cannabis Management has been negotiating a temporary solution with the plaintiffs in the light of litigation filed by several of the impacted licensees
The proposed order has yet to be signed by the Supreme Court, Albany County court, but may indicate the state intends to approve legislation that will allow the affected businesses to stay at their licensed locations
Trump Justice Department withdraws Biden-era cannabis research, hemp testing. Attorney General Pam Bondi withdrew a total of 54 Notices of Proposed Rulemaking and “previously announced regulatory actions.” — MJBizDaily
Among these are an historic bipartisan marijuana and CBD research bill and a measure that would have allowed Farm Bill-compliant hemp to be tested at labs without DEA certification
New initiative petition would regulate Missouri marijuana, hemp products the same as alcohol. The effort would repeal the 41-page constitutional amendment that legalized recreational marijuana in 2022. — Missouri Independent
A coalition of Missouri hemp business leaders and advocates formally filed four initiative petitions that would ask voters to allow marijuana and intoxicating hemp products to be sold in the same stores as alcohol and tobacco
The effort also aims to regulate products that are currently being sold in gas stations and stores without any testing or tracking requirements. The lack of state regulation has led some municipal governments to try and find a way to regulate them through city health departments
N.Y. Regulators Move to Fine Cannabis Testing Lab Over Safety Violations. Lexachrom Analytical Laboratory is facing a three-year ban and a $2M after state investigators found unacceptable levels of pesticides in products the company had cleared as safe for sale. — The New York Times
The Office of Cannabis Management said it was seeking to permanently close the company after a roughly four-month investigation had uncovered several violations. Lexachrom already surrendered its license in June, citing financial woes
Mille Lacs Band becomes second Minnesota tribe to sign a deal to open off-reservation cannabis stores. This allows the tribal nation to open and run up to eight off-reservation marijuana dispensaries. — The Minnesota Star Tribune
The agreement comes four months after a nearly identical compact with the White Earth Band of the Minnesota Chippewa Tribe
While it’s unclear exactly how long it could take for the Band to open any retail locations — they are allowed one per city and three per county — Lake Leaf, the Band’s marijuana enterprise, is already operating on the reservation and recently opened two temporary retail locations in Onamia and Hinckley
Alabama cultivator may have to destroy crop with no way to sell to patients. Native Black Cultivation received a license and has been up and running for two years, producing a medical grade marijuana that he has no way to sell. — WVTM13
This crop is almost ready to harvest, it'll be his sixth. Since there's no way to sell his product, it’ll be frozen. Typically, it'll keep for about a year, so soon he'll have to destroy his first crop he harvested last year
Pre-rolls surpass Flower as Canada’s highest-grossing cannabis category. Drawing on 2024 sales data provided by Headset, pre-rolls generated more than $1.27B in revenue across ~69M units sold, securing a 32.8% market share. By mid-2025, pre-rolls had overtaken flower in sales by 4.2%, or $38M, to become Canada’s top-grossing cannabis product category.
Maryland Collects $18.4M in Cannabis Tax Revenue in Q2 2025
Arkansas medical marijuana sales on track to surpass 2023 record
Miracle In Mundelein 2025: Music, Cannabis, And Pure Vibes
💵 Deals
Grown Rogue Expands Senior Credit Facility by $5M. This expands the Company's existing senior secured credit facility to US$12 million in aggregate principal. Proceeds from the expanded facility will be used to support Grown Rogue's growth initiatives, including the expansion of its New Jersey affiliate and the buildout of its Illinois cultivation facility, as well as to enhance overall balance sheet flexibility. The amended terms of the facility include an interest rate of 7.52% for the latest tranche.
Canopy Growth Early $25M Term Loan Prepayment. The Company previously entered into an agreement with certain of its lenders, which the Company announced on July 29, 2025. Under the terms of the Agreement, Canopy Growth agreed to make the following prepayments under the Term Loan: (i) $25M at par on or about July 31, 2025; (ii) $10M at par on or prior to December 31, 2025; and (iii) $15M at par on or prior to March 31, 2026. The Company made the first of three prepayments in the amount of $25M on July 31, 2025. The current Prepayment, which the Company has elected to make early, satisfies the remainder of the Company’s obligations set forth in the Agreement.
Barney’s Farm Terminates Merger With Sensi Seeds & I Love Growing Marijuana (ILGM). The merger was announced on stage at MJBizCon in December 2024. However, after nearly a year of silence, the deal has collapsed, with the blame placed squarely on the deal’s apparent architect, PowerPlant, Inc.
📄 Company Updates
Verano Proposes to Redomicile Parent Company From British Columbia to Nevada. Verano believes that redomiciling in the United States better aligns with its U.S. based business and operations and streamlines its organizational and regulatory structure within the United States, among other reasons.
Curaleaf Joins S&P/TSX Composite Index. Curaleaf has been selected for inclusion into the S&P/TSX Composite Index under the Health Care sector, effective prior to the open of trading on Monday, September 22, 2025. This inclusion positions the Company among the highest-capitalized and most actively traded stocks on the Toronto Stock Exchange. As the first U.S.-based cannabis operator to be included in the S&P/TSX Composite Index, the Company is poised to gain increased visibility and credibility within one of North America's premier equity benchmarks.
🏬 Retail
FlynnStoned rolls out Bay Ridge’s biggest dispensary yet. This marks FlynnStoned’s second Brooklyn location, following its July 2025 debut in Greenpoint.
The Sanctuary Garden Dispensary Opens on NYC's Upper West Side. Founder Daron Hudson—the first justice-involved individual in New York's CAURD program to help launch the state's first legal dispensary—brings decades of advocacy and experience to New York's legal cannabis market with support from Indoor Treez
Bountiful Farms to open in Framingham, MA. Bountiful Farms, an independent cannabis cultivator and wholesaler, announced plans to acquire and open two adult-use recreational dispensaries, its first-ever retail locations. Bountiful currently operates a medical dispensary in Natick and a cultivation and live rosin facility in Lakeville.
Curaleaf Opens New Dispensaries in Ohio and Florida. Curaleaf Apopka, FL gives Curaleaf 69 retail locations in Florida. Curaleaf Girard, OH gives the Company five in Ohio and 157 nationwide.
The Cannabist Co. opens 6th Ohio Dispensary in Norwalk. Cannabist Norwalk marks the debut of The Cannabist Co.’s signature retail brand, Cannabist, in Ohio. Dual-use licensing will enable the location to serve both medical patients and adult-use customers. The company’s seventh Ohio location, to be located in Saint Clairsville, is anticipated to open later this year, pending regulatory approvals.
iAnthus opens 23rd GrowHealthy dispensary in Florida in Tamarac.
🌱 Product
Headset introduces e-Commerce data feed. Headset provides market intelligence and vendor-managed and retailer-supported inventory data through direct integrations with ~4,000 PoS retailers. With the inclusion of web-derived data from 7,000+ e-commerce retailers, Headset now has close to 11,000 total data sources.
RYTHM National Rollout of Hemp-Derived THC Drinks. The Sativa version, flavored with mandarin orange, contains THC and naturally sourced caffeine. It is marketed as uplifting and energizing. The Kush option, made with mango and pineapple, combines THC, CBD and L-theanine and is positioned as calming. Both varieties are available in 5-mg and 10-mgdoses. The national rollout comes two months after launching to select retailers across Illinois and New Jersey.
Trulieve Launches Five New Onward and Upward Flavors. New flavors include Onward Berry Smash, Cosmopolitan, Lemon Drop Martini and Paloma, and Upward Half & Half iced tea & lemonade.
Willie Nelson launches limited edition cannabis beverage. Willie’s Remedy+, the cannabis brand inspired by Willie Nelson’s legendary spirit and way of life, launches Outlaw Bottle, a limited-edition release celebrating the last leg of the 2025 Outlaw Music Festival Tour headlined by Nelson and featuring a line-up of his music friends.
🧔 People
Pro-Cannabis Politician Becomes Third Thai Premier in Two Years. An engineer by training with royalist credentials, Anutin Charnvirakul found political fame by backing cannabis decriminalization. He entered politics in 1996 while still running family firm Sino-Thai Engineering & Construction, now known as Stecon Group Pcl, Thailand’s second-largest builder. He is the son of former acting premier Chavarat Charnvirakul and holds an engineering degree from Hofstra University in New York. He built Bhumjaithai’s profile as a champion of cannabis reform, after spearheading Asia’s first decriminalization policy in 2022, and targeted economic support for rural areas — all wrapped in a party motto of delivering on promises.
Standard Wellness Appoints Rob McCourt VP of Wholesale. McCourt joins Standard from Firelands Scientific, where he was a co-founder and Executive Vice President of Revenue. During his time there, he played a pivotal role in scaling the company from a pre-revenue startup into a multi-state operator with over 250 employees.
🎙️ Interviews
Why Big Corporations Fear Weed And Why Success Isn’t About Cool | High Times
Flower By Edie Makes Cannabis Into A Fashion Statement | Marketing Daily
On The Revel's Lulu Tsui on Growing Up in a First-Gen Immigrant Family Supportive of Cannabis | Muse by Clios
How Cannabis Receiverships Can Cultivate a Stronger Future | Blank Rome