💬 I’ll be in Denver for IgniteIt next month—if you’re also attending and want to connect there or before, let me know!
🌿 Industry
More Americans Are Now Smoking Marijuana Than Ever Before As Cigarettes Hit All-Time Low, Gallup Poll Shows. 17% of Americans over the age of 18 now smoke cannabis—more than double the 7% who said they smoke marijuana when Gallup first asked about the issue in 2013. — Marijuana Moment
Adults between the ages of 30 and 49 are the most likely to smoke marijuana, with 25% saying they do so. Among those between the ages of 18 and 29, 23% smoke marijuana
DEA Releases Full Marijuana Rescheduling Hearing Transcript As Judge Prepares To Issue His Recommendation. The full official transcript of the DEA’s rescheduling hearing is now public, running 2,533 pages across all 11 days of proceedings, released after Chief Administrative Law Judge Derek Julius ordered mostly small and technical corrections to the initial draft. — Marijuana Moment
DEA attorney James Schwartz set the government's frame on day one: "The proposed rule, the supporting documents, and the Government witnesses will establish that marijuana has a currently accepted medical use. With that determination, marijuana can no longer remain in Schedule I"
DEA’s final brief argues cannabis “no longer fits the statutory requirements for Schedule I because it has a currently accepted medical use within the United States and it has an accepted safety for its use under medical supervision,” and points to “over 30,000 practitioners treating more than six million patients in 43 U.S. jurisdictions.” It asks the judge to “expeditiously recommend” the move to Schedule III
Opponents — SAM, NDASA, the Tennessee Bureau of Investigation, and the states of Idaho, Indiana and Nebraska — argue the new two-part test “improperly departs from a former five-part test,” that cannabis lacks accepted medical value, and that reform would undermine drug testing of safety-sensitive workers.
House Members Press the Trump Administration for a Schedule III Framework. A bipartisan quartet wrote to the President with three cabinet members asking for clarity on federal medical cannabis policy — including whether Medicare will cover medical cannabis.
Georgia Proposes USPS Delivery of Medical Cannabis Under Rescheduling. The state’s 45,000-plus registered patients could receive dispensary products through the U.S. Postal Service or private carriers such as FedEx and UPS — a change officials attribute directly to the federal move to Schedule III.
55% of Massachusetts Voters Oppose Repealing the State’s Cannabis Laws. A new poll shows 55%-33% opposition to the November rollback question— the least popular of all nine ballot initiatives.
UK Medical Cannabis Prescriptions Rose 35% in 2025 to 72,065. Up from 53,477 in 2024 — roughly 20,000 additional prescriptions were for medicinal use.
An Insurance Carrier Sues a Major MSO to Dodge a Class-Action Payout. One to watch on the cost-of-risk line — cannabis insurance pricing and coverage carve-outs are becoming a real diligence item. — MJ Biz Daily
La Jolla, California-based Palomar Excess & Surplus Insurance’s commercial general and product liability policies don’t cover Cresco Labs in two lawsuits filed by several dozen cannabis consumers
At issue is “a multimillion dollar demand” that Cresco “contends that Palomar has an obligation to defend and indemnify it against,” Palomar’s suit claims
Yale: Federal Legalization Would Generate $57.9B of New Tax Revenue Over a Decade. The total reaches $111.3 billion if all remaining states also legalize.
Two-Thirds of THC Beverage Consumers Drink Less Alcohol. A new study found two-thirds of people who consume cannabis-infused THC beverages reduced alcohol consumption, with reported gains in sleep and stress and reduced pain.
Canadian Retail Cannabis Sales Set a New $500M+ Monthly Record in June 2026. Canada also continues to dominate export flows: shipments to the UK rose 562% from 2024 to 2025, and Canada accounted for 96% of the UK’s total annual import growth.
That’s more than the $372.4M that California sold the same month, according to the DCC, meaning California has lost its superlative status. Hirsh Jain: “California was supposed to become the global model for cannabis legalization... Yet poor policymaking has turned what should have been the world’s premier legal cannabis market into a cautionary tale.”
Square Tells Businesses to Stop Selling Hemp and CBD Products. Sellers must remove all CBD, hemp and hemp-derived items from their Square catalogs — online and in person — by Oct. 15, citing the Nov. 12 federal redefinition of hemp. — Marijuana Moment
This is the payments-rail consequence of the ban, and it lands a month before the statutory date — brands lose merchant processing whether or not Congress moves the deadline to Dec. 11
Square said it is “constantly evaluating” its policies but had nothing specific to share on reversing the decision if the ban slips
💵 Deals
Kiva Sales & Service and Petalfast Complete Merger. Kiva Sales & Service (KSS) and Petalfast finalized the strategic combination first announced in March. The deal unites two established sales and distribution operations under one platform serving California and beyond. The combined company builds on the recent launch of KSS Lite, a streamlined distribution tier built for brands managing their own sales teams. The merger preserves both companies’ sales teams, existing partner relationships, and the customer service standards brands rely on. KSS Live, the company’s digital ordering marketplace, continues to support both service tiers, giving self-managed brands buyer visibility and full-service partners a technology layer built on field sales and hands-on customer service. The combined organization will operate under a united name that will be announced later this year. Petalfast Co-Founder Arun Kurichety now serves as CEO of the combined organization. Scott Palmer will chair the combined board as the company builds on its success in California and plans expansion into New York and New Jersey, and will stay on as CEO of Kiva Confections.
Grown Rogue closes initial transactions to enter New York ahead of a planned acquisition of PharmaCann of New York’s license and assets. Grown Rogue has taken the first steps toward the planned acquisition of PharmaCann’s New York license and assets (CNY) through the formation of Grown Rogue New York, LLC (Grown Rogue New York or GRNY) with a capital partner. GRNY is a 51%/49% joint venture: the capital partner funded an initial $10M for a 49% preferred equity interest, convertible at its option into Grown Rogue shares at escalating prices over five years starting at $0.55 (~18.2M shares, ~7% dilution if converted today), plus a committed $5M drawable 15% term loan. Total project cost — acquisition, capex and working capital — is estimated at ~$12M, with the loan providing contingency capacity. Assets include the Hamptonburgh cultivation and manufacturing facility (~24,000 sq ft indoor flower canopy plus ~16,000 sq ft light-deprivation greenhouse) and four Verilife dispensaries, two medical/adult-use and two medical-only. Before slowing production in early 2026, Hamptonburgh averaged more than 2,000 lbs of flower per month; the four dispensaries have averaged $1.7M–$2.0M of aggregate monthly sales over the past 18 months. GRNY is funding the transition via a Goods and Services Agreement and a secured loan of up to $9M to PCNY; definitive purchase agreements are expected within four weeks, subject to regulatory approval.
Curaleaf Responds to Aurora Cannabis’ Latest Attempt to Deflect From Shareholder Value Creation. Curaleaf reiterates its willingness to meet anytime to discuss a deal in the best interests of shareholders. In addition, Curaleaf fully rejects Aurora’s characterization of discussions between the two companies, Aurora’s efforts to highlight select operating metrics ignore broader performance trends, and says the market has responded favorably to Curaleaf’s offer.
Vireo Growth Completes Acquisition of C21 Investments. Transaction expands Vireo’s Nevada footprint with three leading dispensaries in Nevada and approximately 104,000 sq. ft. of cultivation and production capacity. In total, Vireo issued an aggregate of 2,766,409 Vireo Shares in connection with the Transaction in exchange for all of the issued and outstanding C21 Shares.
Aurora Cannabis acquires Internode Pharma and HAP Pharma (UK) for £2.1M. Internode is a licensed medical cannabis importer and wholesaler; HAP Pharma is a licensed pharmacy specializing in dispensing and direct delivery to patients. Both operate out of Birmingham, giving Aurora owned control from cultivation through to patient delivery in one of Europe’s fastest-growing medical markets.
Christina Lake Cannabis signs a non-binding LOI to be taken private by a private Alberta corporation at a $15M transaction value. The LOI, dated Aug. 20, contemplates $15,000,000 for 100% of the equity on a fully-diluted, cash-free, debt-free basis, most likely via court-approved plan of arrangement, with a 120-day exclusivity period. Critically, the $15M is not a per-share price: shareholders receive the residual after all outstanding debt, convertible debentures and transaction expenses are retired, so per-share consideration cannot be determined yet.
📄 Company Updates
Tilray lifts global cultivation capacity 31% to ~275 metric tonnes. Up from 210 MT, driven by its Quebec facility in Canada (+30 MT) and its EU-GMP facility in Cantanhede, Portugal supplied ~85% of Tilray’s international medical business and ran at ~80% utilization for the fiscal year; in Germany the Aphria RX facility is fully utilized and the new ARX brand launched with strong early patient response.
FloraWorks Advances Patented TruCBN Platform With Peer-Reviewed Safety Publication, Internal GRAS Conclusion. FloraWorks’ technology uses standard food-processing techniques to control and accelerate the process, allowing CBN to be produced consistently at high purity. This combination of standardization, scalability and patent protection gives FloraWorks a defensible foundation.
Vireo Growth launches share buyback. A normal course issuer bid commencing Aug. 17 allows repurchase of up to 2,426,872 subordinate voting shares against 48,517,509 outstanding, at prices up to US$18.75 per share, expiring Aug. 17, 2027.
TerrAscend renews and replenishes its $10M share repurchase program. Pursuant to a previous NCIB, which commenced on Aug. 22, 2025, the company purchased for cancellation a total of 653,500 shares, through the facilities of the Toronto Stock Exchange (TSX) or other such permitted means, for an aggregate repurchase price of ~$417K and at a volume-weighted average purchase price of $0.64 per share.
🏬 Retail
CERTIFIED Opens 5th Ohio Dispensary, Expanding Access to East Columbus Communities. The company’s other locations are in Cleveland, Columbus, Springfield, Dayton and now Reynoldsburg.
Green Thumb opens its 13th Nevada location, RISE Dispensary Sparks. GTI currently operates one production facility in Carson City and two in Las Vegas, where it grows and manufactures its branded products.
Higher Love Cannabis Co. suspends operations at five of its nine Upper Peninsula dispensaries, blaming Michigan’s new 24% tax. Crystal Falls, Escanaba, Houghton, Munising and Ontonagon are closed; the chain consolidates to four U.P. stores. Higher Love called the 24% tax “another substantial cost in a market already subject to a 10% retail excise tax and 6% sales tax.”
🌱 Product
Verano Enters Cannabis Beverage Category with Debut of Easy Landings, Company’s First National Beverage Brand Featuring Four Delicious Flavors and All-Natural Ingredients. Designed to bring precision, flavor and flexibility to any occasion, Easy Landings beverages are crafted to be mixed seamlessly into any drink for a custom mocktail or enjoyed on their own. Initially launching in four delicious flavors including Lemon Lime, Watermelon, Mango and Black Cherry, Easy Landings beverages optimize taste, adaptability and simple dose control in a portable and flexible format. Each 2 oz (60 ml) bottle of Easy Landings contains 100 mg of fast-acting THC, curated flavors and formulas to induce a predictable experience, with a capful measuring 5 mg of THC per serving.
Khalifa Kush launches Khalifa Kush Hemp-Derived THC beverages. In partnership with Scofflaw Brewing, this premium, ready-to-drink hemp-derived THC beverage was created to bring the Khalifa Kush experience into a new consumer category. Under an exclusive U.S. licensing and commercialization agreement, Scofflaw leads product development, commercialization, distribution strategy, and beverage portfolio expansion for Khalifa Kush hemp-derived THC beverages.
Death Row Cannabis (Snoop Dogg) expands its lineup and launches its first edible. The collection includes 1-gram and 2-gram 510 vape cartridges, along with a sleek, branded 1-gram disposable vape engineered for performance and portability. Available in six flavor profiles — Watermelon Mojito, Blue Widow, Holy Cannoli, Grape Ape, Platinum OG, and Strawberry Fields — the lineup balances bold, flavor-forward experiences with classic, strain-inspired favorites. Expanding beyond inhalables, Death Row Cannabis is also entering the edibles category for the first time with the launch of Death Row Gummies. The brand is also expanding its pre-roll lineup with the introduction of five 1-gram pre-rolls and three 2-gram Infused Bigg Dogg Blunts, available in Purple Punch, Bubble Gum, and Watermelon — offering a range of formats and potency levels for every type of consumer.
Bountiful Farms Launches Blends, New Solventless Line Inspired by Massachusetts Culture. Each blend is inspired by Massachusetts and combines complementary cultivars to create flavor profiles and experiences that could not exist from a single strain alone. The initial lineup includes Plum Island Purple, Back Berry Bay, Storrowed, P-Town Pineapple, Plymouth Rock Papaya and Zakim Zkittles, with names and flavor profiles drawing from places and experiences all too familiar to Massachusetts consumers.
Upstate Elevator launches a functional drinks line, extending the hemp-THC beverage set further into the functional-wellness occasion.
🧔 People
Organigram appoints Finn Age Hänsel President, Rest of World & Chief Strategy Officer, and Adrian Frenzel Global COO. Both come from Sanity Group, which Organigram recently acquired.
CBX Solutions appoints Travis Hendren CEO. Most recently, Hendren served as COO of Gypsum Management and Supply, Inc. (GMS), one of North America’s largest specialty building products distributors.
🎙️ Interviews
High Spirits — “Building a Hemp Beverage Empire Inside Alcohol: Jason Dayton of Trail Magic.” What happens when a craft alcohol company accidentally builds one of the fastest-growing hemp THC beverage brands in America.
TWICL — “Hostile Takeovers, EU Export Goldmine & Congress Presses the White House.” Breaking down Curaleaf’s hostile bid for Aurora.
TDR — “Cannabis Medical Markets Are Growing, So What’s Next?” Organigram Global CEO James Yamanaka joins for segment one to break down a record quarter, followed by FundCanna CEO Adam Stettner for his weekly segment on emerging medical markets and the lending demand growing alongside them.