420 with CNW — How U.S. Marijuana Companies Are Responding to President Trump’s Tariffs

Marijuana firms and related businesses are adjusting quickly to changing U.S. trade policies, particularly under the tariff strategies introduced by the Trump administration. Many of these businesses rely heavily on global suppliers, especially for packaging and manufacturing, and the tariffs have added new pressure to an already complex supply chain.

It remains to be seen what innovations marijuana firms like Cresco Labs Inc. (OTCQX: CRLBF) (CNX: CL) (FRA: 6CQ) will introduce to cope with the…

420 with CNW — Why M&A Activity Could Be Declining in the Marijuana Industry

According to statistics from Viridian Capital Advisors, a data analytics and investment banking firm based in New York, there was a 33% drop in the value of mergers and acquisitions (M&A) from the $1.74bn in 2023 to the $1.16bn registered last year. Frank Colombo, the MD of Viridian discussed a number of factors that could explain this trend.

Colombo explains that the cash situation within the marijuana industry is very tight. He adds that many M&A deals have tanked because firms have been trying to conserve cash during the recent two years.

He explains that the motivation behind marijuana M&A activity has also changed. Previously, companies were in a race to buy out every business they could find in states with legal marijuana markets. However, that “land grab” soon taught companies that it wasn’t profitable to have a presence everywhere. Having just a pair of retail outlets in a state proved to be untenable. Emphasis has now shifted to consolidating a company’s footprint with a specific market rather than being spread out thin all over the place.

Colombo cites the example of Acreage Holdings that went into a frenzy buying up every small marijuana business that was on sale. Their approach failed to bring in profits, and Acreage itself was acquired by Canopy Growth.

Another reason he cites for declining M&A activity is the current decline in cannabis stock prices. Many M&A deals are completed using stock or cash. Given that cash is tight and stock prices aren’t at their best, it is hard for companies to negotiate mergers and acquisitions based on stock since shares aren’t as attractive in this current environment as they once were. Since firms are reluctant to get further into debt and stocks aren’t a good option, companies have decided to scale down or halt M&A activity.

Colombo also points out that there are a number of challenges involved in integrating businesses, not just in the cannabis industry but in all industries, after a merger or acquisition. For example, the different businesses have their own financial systems and cultures and it becomes difficult to merge those elements.

He points out that M&A activity is likely to stay down for a while given the existing market conditions. However, consolidation within markets is bound to continue as businesses invest in deepening their presence in specific markets. Markets will continue to have a few big firms dominating that area and there will be many small players also trying to make their mark. Those that fail will still end up being acquired by the larger and more successful players, and the trend will continue.

It remains to be seen how companies like Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) will navigate these market conditions and leverage available opportunities to cement their presence in their chosen markets.

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420 with CNW — Divisive Colorado Cannabis Potency Bill Withdrawn at Committee Stage

A contentious bipartisan measure aimed at addressing the high potency of cannabis in Colorado was withdrawn by its sponsors during a committee hearing. The measure faced immediate backlash, particularly over proposed regulations on specific edibles and age restrictions.

Before the first reading, Senator Judy Amabile indicated she planned to revise the measure significantly. However, when the hearing took place, she instead requested the panel to reject it. The bill had already stirred debate, prompting its sponsors to promise changes before the official discussion even began.

Currently, Colorado law limits THC levels in edibles to 10 milligrams per serving. The bill sought to extend that restriction to vaping and smoking cannabis products. Additionally, it proposed a new labeling scheme to help provide users with a deeper understanding of potency levels.

One of the most controversial aspects of the measure—initially included but later abandoned—was a cap on the quantity and potency of marijuana that individuals under the age of 25 could purchase. That provision drew the most resistance from the public, particularly in online discussions.

Lawmakers justified the age-related restriction by citing concerns about brain development, referencing CDC findings that suggest cannabis may have long-term effects on memory, attention, and learning, though further research is needed.

Since cannabis was legalized in Colorado, THC levels in marijuana flower have significantly increased. According to the NIH, between 1990 and 2015, the average THC potency in marijuana flower rose by 212%. The industry has also introduced highly concentrated products like edibles, wax, and vape oils, contributing to growing concerns over potency.

Another provision in the measure sought to prevent holders of natural medicine licenses—such as those handling psilocybin—from manufacturing, transferring, or distributing infused candy items, including chocolates and gummies.

Supporters of the measure argued that such products are more appealing to children. However, psilocybin therapy advocates countered that the restriction was unnecessary since retail sales of the substance are not allowed in Colorado, reducing the risk of unauthorized access.

Senators Amabile and Byron Pelton introduced the measure after schools and parents raised concerns about the impact of highly potent cannabis on young people. Amabile also cited personal experience, explaining that her child developed schizoaffective disorder and psychosis after early and consistent cannabis use.

Jon Spadafora, CEO and founder of Flower Union Brands, a marijuana edibles company, argued that measures like these contribute to negative stereotypes about cannabis. He also warned that limiting purchases for younger consumers could hurt the industry by cutting off a significant portion of its users.

Acknowledging the backlash, Amabile confirmed that the age restriction would be removed. The measure would still require producers to adopt a new color-coded labeling system to indicate potency, with dispensaries posting signs explaining the meaning of the colors.

The overall marijuana industry, including enterprises like Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF), could be glad that efforts to add another layer of complexity to the legal marijuana industry in Colorado has fizzled out in the dust.

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420 with CNW — Could the Growing Popularity of THC Drinks Push Alcohol Out of the US Market?

New laws in the United States are making it possible to include THC in beverages, offering what some see as a potential alcohol alternative. While this development is being met with optimism by some, others believe its benefits may vary.

Policies enabling the sale of THC-infused drinks are becoming more common, often placing them in venues that sell alcohol. Minnesota, for instance, passed legislation last year permitting the sale of THC beverages in liquor establishments, and these products have since started appearing across the country.

The 2018 Farm Bill included a loophole that lifted federal prohibitions on hemp-derived products with trace amounts of delta-9 THC. Since 2019, Texas has been licensing establishments to sell hemp products, including liquor stores and bars.

Connecticut implemented a law that confines the sale of THC drinks to licensed dispensaries and liquor stores. Meanwhile, in states without explicit regulations, retailers like Total Wine and More have begun selling these beverages in regions where they are not specifically prohibited.

The popularity of alcohol alternatives has been growing steadily. Yet, whether THC drinks will gain acceptance as a lasting replacement for alcohol or remain a novelty remains uncertain.

Meenakshi Subbaraman, a researcher at UC Berkeley’s Public Health Institute, has studied the possibility that marijuana could aid those who suffer from alcoholism in cutting back on their use. According to her research, marijuana satisfies the majority of requirements for a suitable alternative. However, substituting THC beverages for alcohol’s social component presents a special difficulty.

Subbaraman points out that people who successfully switch from alcohol to marijuana often do so for specific reasons, such as managing pain, improving sleep, or reducing alcohol intake intentionally.

THC beverages often take longer to produce noticeable effects, sometimes exceeding an hour, unlike alcohol. Manufacturers are investing in nanoemulsion technology to shorten this time.

Marijuana and alcohol share similar risks, including impaired driving. As more cities allow marijuana consumption lounges, managing intoxicated driving may become a significant issue. For instance, The Artist Tree, a California-based dispensary with two lounges, trains staff to recognize intoxication, cut off customers if necessary, and even help them arrange transportation. Despite these efforts, marijuana lounges face stricter regulations and higher taxes compared to businesses selling hemp-based THC drinks.

Another obstacle is price. A six-pack of THC beverages starts at around $30, making them less accessible for casual or frequent occasions, such as tailgating events. It is now up to marijuana players like Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) to assess the long term market prospects of THC drinks and if they find it a viable line, find innovative ways to bring down the current price of these products.

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420 with CNW — New Lawsuit Aims to Invalidate Nebraska’s Medical Marijuana Ballot Measures

A top medical marijuana opponent in Nebraska has initiated a new legal challenge aiming to nullify two recent ballot initiatives to legalize and regulate marijuana in the state.

John Kuehn, a former state senator from Heartwell and a past State Board of Health member, filed a second lawsuit this year targeting the Nebraskans for Medical Cannabis campaign and Bob Evnen, the Secretary of State. The recent case comes after Kuehn lost a related lawsuit in late November, a decision he is currently appealing.

The new lawsuit also involves Governor Jim Pillen and argues that state cannabis legislation is unconstitutional and unenforceable. It further challenges the proposal to create a new agency to oversee cannabis regulation, claiming this approach is prohibited under the law.

According to the lawsuit, the measures created by activists have not undergone proper judicial scrutiny to ensure compliance with the Nebraska and U.S. Constitutions. Kuehn argues that action must be taken now to avoid wasting taxpayer money on what he describes as a doomed effort.

Nebraska law requires the governor to formally declare which ballot measures succeeded in the November 5 election. This includes Initiative Measures 438 and 437, which relate to medical cannabis. Kuehn’s lawsuit seeks to stop the governor from performing this duty.

Crista Eggers, a campaign manager and one of the ballot measures’ sponsors, noted the broad public support for regulated access to medical marijuana, citing overwhelming approval during last month’s vote. She pointed out that 48 states already permit some form of marijuana use, highlighting the state’s right to address its citizens’ needs. Eggers reiterated the campaign’s commitment to defending the state’s medical marijuana legislation to ensure access for patients.

Kuehn’s legal challenge, if successful, could set a precedent for questioning cannabis measures in other states. While the federal government is considering reclassifying cannabis to a less severe category, Kuehn has previously argued that these measures violate federal law.

His initial lawsuit, filed in September, claimed that the initiatives lacked sufficient valid signatures and included concerns of petition fraud. That case, however, was dismissed. Despite the setback, Kuehn has continued his efforts, filing the current lawsuit shortly after the Nebraska Canvassing Board certified the election results.

As it stands, Measures 437 and 438 would respectively allow up to five ounces of medical marijuana with a doctor’s recommendation and establish a regulatory commission by October 2025. Kuehn argues that the governor cannot allocate taxpayer resources to support what he views as federally illegal activity. The case has now moved to Judge Susan Strong, who will hear an initial request to block Governor Pillen from finalizing the measures.

Marijuana companies, such as Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) from various jurisdictions will be watching how this latest legal challenge to the medical cannabis measures in Nebraska pans out.

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420 with CNW — Study: Utah’s Medical Cannabis Legalization Lowered Opioid Use by Patients with Chronic Pain

A recent study examining the use of prescribed opioids in Utah after medical cannabis legalization in the state highlights a significant reduction in opioid consumption among patients managing chronic pain. The findings also show a substantial decline in opioid prescription-related deaths since Utah authorized medical marijuana in 2018.

The study highlights the increasing use of cannabis for pain relief and its potential to lessen opiate dependence. It concludes that cannabis could be a promising option as healthcare providers explore safer methods for managing pain, especially for individuals with chronic pain conditions.

The Utah study analyzed 186 chronic pain patients, using data from medical cannabis dispensary transactions and corresponding medical records. The information was de-identified and processed using a HIPAA-compliant system developed by MSA.

The participant group included slightly more females (54%) than males (45%), with the majority (87%) being white. Ages ranged between 23 and 89 years, with an average age of 49. Nearly all participants (98.9%) resided in Utah, while a small portion came from New Mexico and Oregon.

The patients in the study experienced various types of chronic pain. Over half (57%) suffered from musculoskeletal pain, while others dealt with visceral pain (19%), orofacial pain and headache (13%), primary pain (4%), neuropathic pain (3%), and postsurgical or post-traumatic pain (2%).

More than 84% of participants decreased their morphine milligram equivalents (MME), a measure of opioid use. In particular, there was a 53.1% average reduction. Before starting on medical marijuana, the mean opioid use was 3,832 MME per month, which fell to 1,798 MME per month after beginning cannabis treatment.

Patients with musculoskeletal pain accounted for the majority of those who reduced opioid use, while individuals with neuropathic pain experienced the most significant reductions.

Interestingly, the study found that patients with orofacial pain or chronic headaches showed a 20.6% increase in opioid use, while other conditions saw reductions ranging from 10.9% to 73.5%. Additionally, individuals who smoked tobacco before using cannabis reported higher opioid use after starting cannabis treatment. This suggests that specific conditions and behaviors may influence the effectiveness of marijuana as a substitute for opioids.

While the findings show promising results linking medical cannabis to fewer overdose deaths and lower opioid use in Utah, the researchers stressed the need for further investigation. They recommend larger and more diverse studies to validate the findings and improve marijuana-based treatment regimens. They also recommended future research to explore optimal cannabinoid dosages and their effects on different populations.

As more of these studies are undertaken and published, the full extent to which medical cannabis products from various licensed companies like Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) are helping patients will gradually be documented.

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420 with CNW — Key Lessons from the Marijuana Liberalization Journey of the US

The journey toward cannabis legalization in the United States has been significant, with nearly half of the states now allowing its recreational use. However, the topic remains contentious and divisive, frequently leveraged by politicians. Some invoke fears about potential harm to oppose legalization, while others emphasize benefits such as increased revenue and reduced violent crime to advocate for it.

Scientific research on marijuana-related harms is relatively comprehensive. Regular consumption of high-potency marijuana, especially when initiated at a young age, is linked to mental health issues, including schizophrenia. It may also lead to cognitive difficulties, reduced academic performance, and an elevated risk of marijuana use disorder.

Consuming marijuana before driving—particularly within an eight-hour window—significantly raises the likelihood of traffic accidents. Additionally, cannabis use while pregnant has been associated with complications at birth.

A key question in this debate is how legalization influences these risks. The potency of cannabis, which directly impacts its harmful effects, has been rising in states with legal markets. This trend toward high-potency products began during cannabis prohibition in both Europe and the U.S. Some evidence also suggests that legal dispensaries may overstate potency levels to attract customers.

Marijuana use appears higher in states where it is legal, though this does not necessarily mean that legalization causes increased use. Research paints a mixed picture. While adult usage rates tend to rise after legalization, most studies show little to no change in marijuana use among adolescents. One complicating factor is that marijuana use has been on the rise since 2000, well before legalization became a trend.

A concerning trend tied to legalization is a rise in ER visits related to marijuana-induced psychosis and unintentional poisoning in youngsters. These incidents are more common in areas with a high density of marijuana stores and are partly attributed to the popularity of edible products, often designed to look like candy.

The question of marijuana legalization is not black and white. Decisions about drug policy can significantly influence both the prevalence of use and the societal impact. Lessons can be drawn from Uruguay, which legalized marijuana in 2012 while implementing strict regulations. The country has not seen a notable increase in marijuana use, addiction rates, or perceived harm compared to its neighbors.

Additionally, discussions on legalization must weigh the drawbacks of prohibition. Criminal organizations often profit from the illicit drug trade, fueling violence and expanding their reach. Research shows that strict drug law enforcement does not effectively prevent marijuana use and may even exacerbate related harms.

Ultimately, there is no flawless approach to drug policy, and substances like marijuana are likely to remain a part of society. Policymakers should adopt an evidence-based and balanced approach, learning from global examples to create thoughtful marijuana regulations that minimize harm and prioritize public health.

This balanced approach is precisely what the cannabis industry, including leading players like Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF), wish for every jurisdiction that is considering reforming its marijuana laws through voter initiatives or the legislature.

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420 with CNW — The GOP to Be Tested on its Readiness for Marijuana Policy Reform

With recent shifts in political power, many are questioning if a Republican-led government might better support cannabis reform than one led by Democrats. As former President Donald Trump returns to the White House and Republicans take control of the Senate, the $32 billion U.S. cannabis industry stands at a crucial point, uncertain about the future of legalization.

The recent elections delivered three defeats for state-level adult-use cannabis legalization. This shift may signal a transition from state-driven legalization efforts toward a more federal approach in Washington, D.C.

Advocates and lobbyists now face the challenge of uniting and presenting a cohesive message to persuade conservative legislators to support reform on a federal level. David Culver, director of government affairs at the U.S. Marijuana Council, noted that while the results were disappointing, there are still potential opportunities to make progress next year.

While Trump’s support for states’ cannabis legalization and Biden’s marijuana rescheduling initiative offer a glimmer of hope, obstacles remain, especially with conservative resistance.

In contrast to recreational marijuana, medical marijuana initiatives are still gaining ground in some states. For example, Nebraska voters decisively supported medical cannabis, although a pending court case may impact the final outcome.

However, the path for recreational use has not been as favorable. In Florida, voters rejected a highly-funded adult-use measure, supported by the cannabis industry, with the opposition led by GOP Governor Ron DeSantis. Similarly, voters in both North and South Dakota turned down industry-backed proposals for adult-use legalization.

These recent defeats raise critical questions about whether marijuana reform campaigns can return to these states and if the industry will be able to fund future campaigns following such costly setbacks.

The current political landscape suggests that federal reform will become the next major focus for cannabis advocates. Republicans are expected to take control of the White House and perhaps both houses of Congress by January. Marijuana policy will probably be neglected until important decisions are made, such as choosing the next U.S. Attorney General or the DEA chief.

Some cultural concerns have also complicated progress for marijuana reform. According to the co-executive director of the Coalition for Cannabis Policy, Education, and Reform co-executive, Shanita Penny, conservative lawmakers have raised issues about the widespread public use of marijuana in D.C., with some expressing frustration about cannabis smells outdoors. Florida voters also echoed similar concerns, which may have influenced their opposition to the recent ballot measure.

The division within the broader cannabis industry itself is another factor slowing down reform efforts. Disagreements between regulated cannabis businesses and hemp operators continue to muddy the industry’s message. A debate has emerged over the “Farm Bill loophole,” which some cannabis advocates wish to close to restrict certain hemp-derived THC products.

Firms like Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) will be watching to see how the changes on Capitol Hill impact the rate at which marijuana policy changes are introduced, discussed and possibly implemented.

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420 with CNW — Kentucky’s First Lottery Selects 26 Businesses to Receive Medical Marijuana Licenses

Kentucky is making significant progress toward introducing medical cannabis as an option for healthcare in the state. Recently, 26 businesses were chosen to cultivate and process medical cannabis, which will soon be available for sale across Kentucky. The businesses earned their licenses through a random lottery held at the Kentucky Lottery office in Louisville.

Governor Andy Beshear expressed enthusiasm about the milestone, highlighting that all medical marijuana activities—from cultivation and processing to testing and dispensing—will occur within Kentucky. Further, he stated that the lottery was a step closer to providing safe and affordable access to medical marijuana for Kentuckians dealing with severe health conditions.

In his remarks, Beshear shared that the start date for patient access could be as soon as January 1 or shortly thereafter, as dispensaries and other necessary facilities begin operations. “A new day is approaching in Kentucky,” he noted, with safe, regulated medical cannabis soon available to support qualifying patients in managing their health conditions.

The Office of Medical Cannabis (OMC) executive director, Sam Flynn, shared that the state received 4,998 applications for business licenses related to medical cannabis, with 918 applicants aiming for processing and cultivation roles. Approximately 84% of these applications were approved for participation in the lottery.

Flynn further explained that the lottery approach was based on examining best practices in other states with established medical marijuana programs. “We prioritized creating a transparent and fair process from the start,” he added.

The lottery winners have fifteen days to pay their processing or cultivation license fees or risk losing the license. Once fees are paid, the OMC will officially grant the licenses, allowing businesses to start operations.

Under the program, cultivators will be required to grow cannabis in secure, locked facilities. They will then sell the harvested cannabis to processors, who will develop various medical cannabis products from the raw material.

A date for a separate lottery to award 48 dispensary licenses is expected to be announced on Thursday.

In September, the state took an initial step by awarding its first marijuana business license to a testing laboratory in Nicholasville. The facility is expected to examine products for safety and quality before they reach patients.

Eligible conditions include any form or stage of cancer; severe, chronic, or incapacitating pain; epilepsy or other chronic seizure disorders; post-traumatic stress disorder (PTSD); multiple sclerosis or associated muscle spasms; and chronic nausea or vomiting that resists conventional treatments.

The entire cannabis industry, including firms like Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF), will be hoping that the roll out of the medical marijuana program in Kentucky goes without a hitch and gives patients who need those products a chance to access them legally.

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420 with CNW — Nebraska Officials Question Voter Signatures in Bid to Thwart Medical Marijuana Measure

Nebraska’s top election official and the state’s chief prosecutor are raising concerns about the validity of most signatures gathered for two medical marijuana petitions set to appear on the ballot this November. Mike Hilgers, Nebraska’s attorney general, who filed a legal motion on behalf of Bob Evnen, secretary of state, stated that inquiries are still being conducted to determine whether the 49,000-plus confirmed signatures on these petitions are authentic.

With early voting already underway on whether to legalize or regulate medical cannabis, Evnen and Hilger are urging the court to verify the total number of valid signatures and potentially nullify the election results if enough legitimate signatures are not confirmed.

In response, Nebraskans for Medical Cannabis criticized the state’s policies, stating that it is alarming that the state is attempting to silence Nebraskans based on largely speculative legal issues.

The legal filing accuses petition circulators of fraud or other misconduct in 72 of Nebraska’s 93 counties. Hilgers’ office claims that three notaries acted as both circulator and notary on an unspecified number of petitions, while six others notarized documents without witnessing the signatures in person, as required.

A total of eight notaries have been accused of misconduct. If the signatures collected by these individuals are disqualified, it could potentially void about 49,000 signatures on both the legalization and regulatory petitions.

Additionally, four circulators are accused of fraudulent activities, though the filing doesn’t specify the exact nature of the fraud. In total, about 656 signatures on each petition are at risk of being disqualified due to alleged fraud.

Hilgers argued that the burden of proving the signatures’ validity should fall on the petition sponsors, stating that when fraud or misconduct is discovered, any associated signatures lose their presumption of validity. His office is asking the court to take an even tougher stance than a 1919 state Supreme Court ruling that nullified signatures tied to fraudulent circulators during a referendum on women’s suffrage.

The investigation points to more than 30 people suspected of wrongdoing, including high rates of signature rejections. One sponsor involved is Crista Eggers, campaign manager for Nebraska Families 4 Medical Marijuana. As of now, no additional charges have been filed against any other circulators or notaries connected to the cannabis petitions.

This marks the third attempt by Nebraskans for Medical Cannabis to get the measure on the ballot. The organization’s first effort in 2020 was blocked by the state Supreme Court, and in 2022, the group failed to gather enough signatures. While several measures will appear on the Nov. 5 ballot this year, Evnen and Hilgers are focusing their scrutiny solely on the medical cannabis initiatives.

These efforts to block the passage of laws legalizing medical or recreational marijuana aren’t new. Companies such as Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) have seen similar issues arise in different markets, but the reform movement scores gains sooner or later.

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