420 with CNW — Virginia Lawmakers Pass Bill Enabling Recreational Cannabis Sales

Virginia legislators have advanced legislation that would legalize and oversee adult-use marijuana sales in the state. The proposal is one of several drug policy measures being debated during the 2026 legislative session.

The bill, sponsored by Delegate Paul Krizek, cleared the House General Laws Committee with a 19–2 vote. The legislation had already advanced through a Senate committee and a House subcommittee last week and will now move to the House Appropriations Committee before potentially reaching the full chamber for consideration.

During the committee hearing, Delegate Adele McClure, who chairs the committee, noted that the proposal creates a detailed framework for regulating recreational marijuana in Virginia. She explained that the bill sets rules for retail operations, establishes penalties for violations, and includes measures aimed at addressing the long-term impacts of marijuana prohibition on communities.

McClure also highlighted revisions adopted in a substitute version of the measure. Those changes, she said, strengthen penalties for unlawful marijuana sales and alter the structure of the board that governs the state Cannabis Control Authority.

Virginia legalized possession and limited home cultivation of marijuana in 2021, but efforts to establish a commercial system have repeatedly stalled. Former Governor Glenn Youngkin vetoed bills that would have created a retail market, preventing implementation despite support from the Democratic-controlled legislature.

Under the House measure, legal sales of recreational cannabis could begin as early as Nov. 1, 2026. That timeline is more aggressive than in the Senate companion bill, which sets a start date of Jan. 1, 2027. Krizek acknowledged the difference and said lawmakers would need to resolve it during conference negotiations.

If enacted, the legislation would allow adults to buy up to 2.5 ounces of cannabis per transaction, or an equivalent amount of other marijuana products as defined by regulators. Individual servings would be limited to 10 milligrams of THC, with a maximum of 100 milligrams per package.

A tax rate of up to 12.625% would apply to marijuana sales, combining state taxes with an optional local levy. Revenue would fund regulatory operations, early childhood education, public health programs, and substance use treatment and prevention programs.

Local governments would not be allowed to prohibit cannabis businesses, and delivery services would be permitted statewide.

The bill also calls for further study of on-site consumption permits, temporary sales at events, and the possible involvement of the state Alcoholic Beverage Control Authority in cannabis oversight.

New Governor Abigail Spanberger has voiced support for legal recreational cannabis sales, arguing that the current legal landscape is confusing for residents. She has said the lack of a clear system creates uncertainty for both medical patients and individuals seeking to comply with personal use laws, underscoring the need for a regulated marketplace.

If this legislation is eventually implemented, it could create opportunities for entrepreneurs to form companies like Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) focused on providing licensed products to adults who wish to consume marijuana legally without having to grow their own plants.

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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of an article each business day at 4:20 p.m. Eastern – a tribute to the time synonymous with cannabis culture. The concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — Trends Impacting the US Marijuana Industry in 2026

As the legal marijuana sector enters another year of adjustment, new data points show an industry still working to find its footing. While some long-standing challenges remain unresolved, recent developments suggest parts of the market may finally be moving toward a more sustainable balance.

Tax policy remains one of the most consequential issues for cannabis retailers. For years, Section 280E of the federal tax code has prevented marijuana businesses from deducting ordinary operating expenses, including rent, wages, and compliance costs. This framework has routinely pushed otherwise viable stores into the red.

In many established cannabis markets, the tax burden created by 280E has exceeded total net income, effectively eliminating profits altogether. In some cases, the typical dispensary is already losing money before considering expansion or long-term investment.

Analysis from Headset estimates that the rule has added between $400,000 and $800,000 or more in annual tax obligations per dispensary, leaving fewer resources for hiring, infrastructure upgrades, or financial cushions during slow periods. These effects are most pronounced in mature states where competition is fierce and wholesale prices are already compressed.

The situation could soon change following President Donald Trump’s executive order that aims to move marijuana to a new federal classification, opening the door to relief from the 280E restrictions.

Licensing trends tell a different story depending on the segment of the supply chain. Nationwide, the number of active marijuana licenses slipped to 37,555 in 2025’s quarter four, a decline of 1% from Q3. That drop continues a contraction that began in late 2022. Compared with two years ago, total licenses across the country are down 13%.

Most of that reduction has occurred among growers. Since 2023’s Q3, cultivation permits have fallen by 24%, representing a loss of more than 5,000 licenses. Retail permits, by contrast, have been relatively stable, declining by just over 300 during the same time.

Some analysts view the pullback in cultivation as a healthy correction after years of oversupply. At the close of 2025’s Q3, there were approximately 16,000 cultivation licenses and about 11,600 dispensary licenses in the U.S. Canada offers a sharp contrast, with far more storefronts than grow operations.

At the consumer level, discounting remains a dominant strategy. Retailers leaned heavily on promotions throughout 2025 to maintain traffic and move inventory, especially in crowded markets.

In most states, average monthly markdowns on marijuana flower climbed over the course of the year. Washington posted the highest average discount rate at 39%, a figure that may be influenced by its steep 37% retail tax. Arizona followed closely, averaging 35% and briefly peaking near 37% in the spring.

Industry observers expect aggressive promotions to remain common into 2026, as many operators prioritize customer retention and sales volume over margin recovery in an intensely competitive landscape.

Many foreign-based cannabis firms, such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY), will be hoping that conditions improve meaningfully for all licensed firms within the U.S. so that they can not only survive but thrive as well.

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420 with CNW — As Federal Drug Policy Evolves, Tennessee Lawmakers Mull Medical Marijuana Reforms

Cannabis has been removed from the federal government’s most restrictive drug category following a recent executive order by President Donald Trump. The move shifts marijuana from Schedule I, a group reserved for substances deemed to have no accepted medical use, to Schedule III.

While the change marks a significant shift in federal policy, its impact in Tennessee remains uncertain, especially as the state prepares to implement stricter cannabis-related laws.

Tennessee remains among the ten states that prohibit marijuana entirely, including both medical and recreational use. That stance will be reinforced on January 1, when a new state law takes effect regulating hemp-derived products and prohibiting specific forms of THCA. The law is intended to tighten oversight of products currently sold in stores across the state.

The new order broadens opportunities for scientific research into medical cannabis. During the signing, President Trump said the change responds to decades of requests from patients coping with severe and ongoing pain.

Despite the state’s firm position, the federal reclassification has reopened debate among Tennessee lawmakers. Some Republican legislators say they are willing to revisit the issue of medical marijuana if future studies demonstrate clear benefits.

State Senator Heidi Campbell welcomed the federal decision and urged Tennessee leaders to follow suit. She stated that the state has lagged behind national trends and argued that policy should reflect the evolving scientific understanding and the needs of patients.

Some have expressed cautious openness. House Speaker William Lamberth said any adjustments to state law would depend on credible evidence showing legitimate medical use. He emphasized the importance of building laws around solid research when dealing with substances that carry risks.

Senator Mark Pody echoed a similar sentiment, noting that medical cannabis could potentially address health concerns while also reducing incarceration rates linked to drug offenses.

Personal stories are also shaping the conversation. Billy Reichardt, who grew up in Hendersonville and now lives in Florida, said he turned to medical cannabis after years of chronic neck and back pain.

He credits cannabis with easing both his physical discomfort and anxiety. Reichardt said he would like to see similar access in Tennessee, arguing that regulated medical use could help patients while also generating tax revenue and improving oversight.

Not all state leaders agree. Lieutenant Governor Randy McNally has maintained that cannabis remains dangerous and has said he does not believe it offers meaningful medical value.

For now, Tennessee’s cannabis laws remain unchanged. However, with federal policy shifting and lawmakers signaling renewed interest, the issue is expected to resurface when the legislature reconvenes. Whether that discussion leads to reform or reinforces the state’s current approach remains to be seen.

Cannabis firms like Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) will be tracking the debates around the U.S. in the wake of the federal change to the classification of marijuana to see whether the new development triggers broader drug policy reforms.

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420 with CNW — Seed Ban in America Threatens to Drive Marijuana Genetics Underground

For the first time in six years, the U.S. is preparing to tighten rules on cannabis seeds after lawmakers inserted a last-minute clause into the recent federal spending package that reopened the government. Industry specialists warn that the change could wipe out the domestic seed market and reverse years of lenient oversight.

Marijuana seed producers have operated with relatively few restrictions since 2018. The shift followed the passage of the farm bill that year, which treated any plant material with less than 0.3% delta-9 THC as hemp. Since the seeds contain only trace amounts of the psychoactive compound, they were effectively removed from the Controlled Substances Act.

That interpretation became even clearer in 2022 when the DEA confirmed that cannabis seeds meeting the low-THC threshold are legally considered hemp, even if the plants that grow from them might later contain higher levels of THC.

The clarification allowed most states to permit seed sales and shipping without triggering narcotics laws. Companies have been able to import and sell seeds without special authorization, creating what many describe as the world’s most active seed marketplace.

The new spending bill, however, includes language that would prohibit a broad group of hemp-derived products. The language specifically targets viable seeds from the cannabis plants if the mature plants could exceed the 0.3% THC limit, including THCA, once dried. In practice, the rule would restrict seeds based on the potential potency of the future crop rather than the chemical makeup of the seeds themselves.

Many in the industry say this approach is unworkable. They note that growers cannot determine the future THC content of a plant until it has matured over several months. That leaves growers and companies with no reliable way to identify what would be considered legal under the proposal.

Consumers who grow their own plants could also feel the impact. Some states outlaw home cultivation entirely, while others allow limited growing, often tied to a medical card. New Holland Group CEO Jamie Pearson said patients who depend on specific strains for conditions such as epilepsy, chronic pain, or nausea risk losing access to varieties that currently help them.

The industry remains unsure how companies would be expected to prove that their seeds can only produce low-THC plants. Pearson believes only a small number of large companies would have the resources to meet any testing or certification requirements. She compared the range of seeds on the market today to the diversity found in wine grapes, which produce subtle differences across wide varieties.

If the ban proceeds, Pearson expects most of that diversity to disappear from the legal market. She warned that only major corporations with the right licenses would remain, while many unique genetics would move underground. In her view, consumers would lose the wide selection they are used to and be left with a far narrower set of options.

Companies like Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) headquartered outside the U.S. may be wondering how long it will take America to adapt to the times and remove existing roadblocks to the widely accepted marijuana industry within the country.

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420 with CNW — Ohio House Approves Bill Reforming Marijuana Laws, Banning Hemp THC

Lawmakers in Ohio advanced a measure that would tighten rules on hemp products with intoxicating effects and revise several parts of the state’s recreational cannabis system. The House approved Senate Bill 56 in a 52-34 vote, sending it back to the upper chamber for final consideration.

The Senate is scheduled to return on December 9, and House Speaker Matt Huffman said he was confident the chamber would sign off on the proposal.

The Senate first approved the legislation in February, but the House later added new rules for intoxicating hemp, which prompted senators to vote unanimously in October against adopting those changes. That decision sent the issue to negotiation.

Soon after, federal lawmakers voted to prohibit products containing more than 0.4 milligrams of THC per package as part of the agreement to reopen the federal government. The 2018 Farm Bill had previously allowed hemp cultivation as long as plants remained below 0.3 percent THC.

Although the federal restriction does not take effect for a year, states can adopt their own rules sooner. Steve Huffman said Congress’s move shaped Ohio’s approach to both hemp and marijuana. The bill now aims to keep intoxicating hemp products out of general retail shops by limiting sales to licensed cannabis dispensaries.

If the Senate signs off and Governor Mike DeWine approves the measure before January, the hemp provisions could begin as early as March. Five-milligram THC beverages would still be allowed until the end of 2026. Lawmakers also included language signaling that they would revisit the issue if federal rules shift again.

On the cannabis side, the bill lowers THC limits for concentrates to 70%, caps flower at 35%, and expands restrictions on smoking in public places. Some probable cause language was removed, though officers could still act if drivers show clear signs of impairment.

Communities hosting recreational dispensaries would receive 36% of adult-use tax revenue. The tax rate for recreational cannabis would remain at 10%, and home grow limits would stay at six plants per person and twelve per household.

Voters approved recreational cannabis in 2023 with 57% support, and sales began in August 2024. Since the measure passed as a statute rather than a constitutional amendment, lawmakers are permitted to modify it.

Critics say the new bill ignores what residents approved. Supporters argue it brings needed structure to a young industry and addresses public safety concerns as the market expands. Many actors within the broader marijuana industry, even across borders, such as Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY), will be happy that some clarity is being brought into the hemp THC phenomenon in the U.S.

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420 with CNW — Massachusetts Regulators Delay Decision on Marijuana Consumption Lounges

The Massachusetts Cannabis Control Commission has postponed a key vote on regulations that would open the door for social marijuana consumption across the state, with officials now aiming for a decision before Christmas.

Commission Chair Shannon O’Brien outlined the revised timeline during the agency’s public meeting, which also marked the introduction of a new commissioner, Carrie Benedon.

The proposal in question would permit marijuana consumers to buy and use products in the same location, a move advocates say would expand access and normalize legal consumption. However, commissioners opted to delay the vote to allow for further review.

The proposal, first drafted in July, establishes three categories of licenses for social consumption. The first, a “supplemental” license, would enable existing cannabis retailers to create on-site consumption areas for their customers. A second, the “hospitality” license, would extend that privilege to certain non-marijuana venues such as theaters or cafes. The third, called an “event organizer” license, would allow temporary consumption spaces at approved gatherings and festivals.

If approved, the first five years of licensing would be restricted to participants in the commission’s economic or social equity empowerment programs, along with microbusinesses and cooperatives. The commission noted that more adjustments could be made before final rules are adopted.

Benedon joins the commission from the state attorney general’s office where she serves as director of the Open Government Division. Her background includes time as an assistant attorney general handling constitutional and administrative law, as well as representing the Public Health Department in cases involving medical cannabis regulations.

She fills the seat previously held by Nurys Camargo, representing the category reserved for expertise in social justice and legal issues within regulated industries.

Commissioner Bruce Stebbins said Benedon’s onboarding prompted the delay, explaining that she needed time to review the proposed rules. Stebbins added that the commission may hold extra meetings before the end of the year to keep the process on track. The next scheduled meeting is on November 18.

“I hope we can finalize this by Christmas,” Stebbins said, noting that commissioners are now focused on clarifying fine details to give future licensees certainty. He emphasized that delays are about inclusion, not hesitation. “We want everyone’s input.”

The agency has been operating with just three active commissioners for months, as one seat remained empty, and another commissioner was on leave. The addition of Benedon gives the body more flexibility to move forward, though a tie vote remains a possibility for the five-member commission.

The entire marijuana industry, including actors from across the U.S. border like Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY), will be hoping that no further delays occur in the timelines of the regulator in Massachusetts so that adults can have public locations where they can consume marijuana products legally away from their hotel rooms or homes.

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420 with CNW — Medical Cannabis Slashes Opioid Use Among Surgical Patients with Cancer

A new study suggests that states allowing medical cannabis sales through licensed dispensaries may see fewer prescriptions for strong opioids among cancer patients recovering from surgery. However, the same policy appears to coincide with a higher rate of hospital visits for reasons unrelated to cancer treatment.

The research, published in Cancer, compared opioid use among cancer patients in states with and without medical cannabis laws. Researchers found that legalization accompanied by dispensaries was linked to a 4.6% drop in prescriptions for strong opioids compared with states that had not legalized medical cannabis. At the same time, the data showed a 2.6% rise in all-cause emergency department visits or hospitalizations.

To carry out the study, investigators analyzed information from 27 states that had not legalized medical cannabis by early 2016. They tracked which of those states passed legalization measures from 2016 to 2022 and noted whether dispensaries were opened following legalization. The researchers tracked when legalization took effect and when each state’s first dispensary began operating.

In total, 13 states did not adopt legalization during that period, three approved medical cannabis without dispensaries, and 11 legalized with dispensaries in operation.

The team used data from the Health Care Cost Institute, focusing on privately insured adults. The study included 34,911 individuals between 18 and 64 years who were newly diagnosed with lung, breast, or colorectal cancer and underwent surgery within six months. Nearly half of the participants were between 55 and 64 years old. Many also reported other pain conditions such as arthritis, back pain, or neck pain.

During the six months following surgery, about 40% of the patients received at least one opioid prescription. One-third were prescribed strong short-acting opioids, while around 10% received weaker formulations. Roughly one in five patients had an emergency room visit or hospital stay not directly related to their cancer treatment, and 2.4% had visits tied to pain management.

The overall rate of opioid prescribing did not change significantly after states adopted medical cannabis policies. Still, the presence of dispensaries appeared to reduce the need for stronger opioids. In contrast, states that legalized medical cannabis without dispensaries saw a small 1.2% rise in prescriptions for weaker opioids.

Researchers believe that legalization may foster more open communication between patients and doctors about cannabis use, which could lead to more cautious opioid prescribing—such as substituting weaker drugs or using smaller doses for shorter durations.

The study’s authors cautioned that while these policies might influence how pain is treated, they could also carry unintended risks. They called for further research on the direct effects of medical marijuana on pain control, drug side effects, and overall recovery outcomes to help shape future evidence-based guidelines.

Medical marijuana providers like Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) are likely to analyze these study findings in order to get some insights about the role that marijuana can play to enhance pain management among different groups of patients.

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420 with CNW — As Congress Considers Law Reforms, Target Starts Selling THC Drinks

Target is testing the sale of THC-infused drinks at a small number of stores in Minnesota, according to executives from cannabis drink companies involved in the rollout.

The retail giant, headquartered in Minnesota, is reportedly stocking around a dozen different THC drink brands in ten stores across the state. The soft launch signals a growing acceptance of hemp-derived THC products at large retail chains, even as lawmakers in Washington debate new restrictions on such products.

Jason Dayton, founder of Trail Magic, one of the participating brands, called Target’s decision “a huge milestone.” He noted that amid the national discussions over hemp regulation, this partnership highlights how sensible oversight and legal frameworks can help the industry grow responsibly.

“We’re all in favor of more structure, not less,” Dayton said. “Things like age restrictions, proper testing, and clear rules are what helped the alcohol business become a massive, well-regulated industry worth hundreds of billions of dollars.”

The initial lineup of THC drinks reportedly includes Cann, Birdie, Gigli, Indeed, Hi Seltzer, Señorita, Surly, Stigma, Trail Magic, Wyld, Wynk, and Wonder.

Cantrip CEO Adam Terry expressed disappointment that his company wasn’t part of the initial rollout but acknowledged the importance of the step. “It’s still a huge win for the industry,” he said, congratulating those involved.

Mindset Capital CEO Aaron Edelheit noted that major retailers and distributors have been cautious about joining the hemp beverage space. “We’ve seen regional players and big alcohol retailers like Total Wine explore it, but never a national chain on the scale of Target.”

Whether the limited test will evolve into a national rollout is still uncertain. For now, it’s being viewed as an early indicator of how mainstream retailers might embrace cannabis-infused products in the future.

Target’s move reflects a broader trend among major U.S. companies as they adapt to changing cannabis laws. Home Depot, for instance, recently removed marijuana from its employee drug screening process and stopped pre-employment testing for most positions.

Amazon has also shifted its stance. The company has supported both Republican- and Democratic-led efforts to legalize and regulate marijuana nationwide. In 2021, the company stopped testing most employees for marijuana use, aligning its policies with the push for federal reform.

In another development, the Veterans of Foreign Wars (VFW) organization has partnered with a hemp company in a licensing deal that promotes marijuana drinks as alcohol alternatives. The beverages will soon be available at VFW posts nationwide, with proceeds supporting veteran programs and services.

Enterprises like Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) will be watching how the regulatory landscape in the U.S. evolves and how hemp firms and marijuana businesses react to any changes to the applicable laws at the federal level.

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420 with CNW — University of Michigan Research Flags Increasing Cannabis Vape Use Among Teens

Recent results from a national survey conducted by the University of Michigan reveal a sharp rise in cannabis vaping among middle and high school students.

In 2024, 57% of eighth graders who said they used marijuana reported that they vaped it, compared with 48% in 2021. The jump was similar in older grades: among 10th graders, use rose from 60% to 66%, and among 12th graders, from 58% to 67%.

Vaping is sometimes thought to be less harmful than smoking since burning the plant produces dangerous carcinogens and chemicals. However, researchers caution that the increasing use of vapes by teenagers poses addiction concerns.

According to the lead researcher Richard Miech, if marijuana use keeps growing among youth, more will end up addicted, which can damage both academic performance and personal relationships.

Flavored vape cartridges are becoming especially attractive to teenagers. Data shows that in 2024, 63% of eighth graders who vaped marijuana chose flavored versions, up from 47% three years earlier. Tenth graders rose from 41 to 53 percent, and twelfth graders from 36 to 50 percent during the same period.

Although recreational cannabis is only legal for people over 21, vape pens are relatively easy for underage users to obtain. They are also easier to hide because they do not produce the strong smell that smoking marijuana does. This makes it simple for students to stash them quickly if a teacher or administrator appears. According to research, flavors like fruit make these products more appealing than the natural taste of marijuana.

Health experts warn that overuse can lead to marijuana use disorder, a condition where individuals need stronger doses over time to feel the same effect. The Centers for Disease Control note that this type of dependence is becoming more common with high-potency marijuana products.

Michigan educators and medical professionals have raised alarms about the rising number of students using vape pens and cannabis edibles. Nikolai Vitti, Detroit’s superintendent, urged lawmakers to provide funds for vape detection devices, public education efforts, and stricter rules on packaging to reduce youth access. Some schools in the state have already installed detectors in restrooms to alert staff when vaping occurs.

In response, state lawmakers recently introduced a measure requiring the Health and Human Services Department to create educational resources for schools about the risks of vaping and high-potency THC. The proposal is now under consideration in the Senate’s education committee.

Stopping youth from using cannabis vapes or cannabis products in general will require concerted efforts from reputable industry actors like Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) as well as government and non-governmental actors seeking to safeguard future generations from the possible harms of marijuana use.

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420 with CNW — Texas Lt. Governor Releases Statement on His Disagreement with THC Ban Veto

Texas Lieutenant Governor Dan Patrick has issued a statement criticizing Governor Greg Abbott’s recent executive order on THC, saying it creates the impression that the state has endorsed the existing THC market.

Patrick stated that his dispute with the governor is not personal but centered on policy. He noted that while he and Abbott have worked together on many issues, they remain far apart on THC regulation.

According to Patrick, the order has been widely interpreted by the hemp and THC industry as a green light from the state. He pointed to public statements from business groups celebrating the decision as a major victory, arguing it legitimizes products that remain dangerous and often mislabeled.

“These are the same companies that have been marketing to minors and opening shops near schools,” Patrick said. He added that many of the products on the shelves are still illegal and, in some cases, carry ingredients not disclosed to buyers.

He warned that the governor’s action could pave the way for recreational cannabis use, despite Abbott’s repeated claims that legalization is not on the table. He emphasized that the Legislature has never voted to approve recreational cannabis. Instead, he said businesses have exploited loopholes in hemp laws to flood the market with high-potency products, now available in thousands of stores across Texas.

The lieutenant governor noted that Senate Bill 3, passed earlier in the year, would have banned such products outright, but the measure was vetoed. He said only a full ban can protect children since age limits on alcohol and tobacco have not prevented underage use. He also cited undercover police footage from Dallas showing smoke shop employees cautioning customers that overdosing on certain THC products could be deadly.

Patrick explained that during a special session, state leaders tried but failed to reach an agreement on safe limits for THC potency, serving size, and retail sales. Without clarity on those points, he said, lawmakers could not support moving forward.

He further argued that the governor’s order leaves major gaps. It does not stop the sale of synthetic variants such as Delta-8 or Delta-10, nor does it restrict the sale of potent Delta-9 products. He also faulted the order for allowing stores to remain near schools and for leaving enforcement responsibilities to already stretched law enforcement agencies.

Patrick further rejected claims in the order that states cannot ban THC under federal law. He pointed to multiple federal court rulings confirming states’ authority to impose bans and added that Congress is currently considering a nationwide prohibition on consumable THC.

The lieutenant governor closed his statement by reaffirming his support for the state’s Compassionate Use Program, which allows doctors to prescribe THC for medical purposes, as well as for legal CBG and CBD products. But he warned against what he sees as a path toward broader legalization. “We do not want to follow Colorado’s example,” he said, adding that he remains open to further discussions with the governor.

The debates surrounding the way to regulate hemp-sourced THC products in different jurisdictions will be closely watched by marijuana companies like Tilray Brands Inc. (NASDAQ: TLRY) (TSX: TLRY) as it could have diverse implications for the legal marijuana industry.

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