Hi all,

Let’s get to it.

In the newsletter:

• Calif. operators unite to avert tax hike

Alex

*

Advertise in WeedWeek

We now offer high impact ad formats like this, this and this.

Book a call with with our partner Liqwid for details.

 Our advertising policy

*

Send tips, press releases, concerns, feedback and criticism to hello@weedweek.com

*

Sensitive material to share? Contact Alex on Signal.

California’s struggling operators have put their differences aside to oppose an imminent tax hike. An open letter signed by several industry groups and the United Food and Commercial Workers (UFCW) says the hike, set to kick in July 1, “will accelerate market collapse.”

If it goes through, the tax hike could raise the current excise tax from 15% to as much as 19%. The change stems from a revenue guarantees in the 2022 cannabis tax law for the non-profit groups receiving pot taxes for public health and environmental projects. As the California industry has struggled, and pot tax revenue has fallen, insiders say…

Read the story

Federal:

• The White House said it has “no action” planned on cannabis reform and its drug policy platform doesn’t mention cannabis. But an industry group is shelling out $1M+ to air ads targeting Trump in Washington and at Mar-a-Lago.
  Marijuana Moment, CNN
• Trump’s new “drug czar” former journalist Sara Carter doesn’t support legalization but recognizes MED’s medical value.
  Marijuana Moment
• The U.S. Supreme Court ruled that a truck driver who took CBD and then lost his job on account of a failed drug test could sue the brand which advertised it as THC-free. By determining that the federal racketeering statute (RICO) could apply, the high court potentially opens operators to further liability.
  SCOTUSBlog

Business:

• MSO Ayr Wellness lost its second CEO in six months. Scott Davido is the new interim CEO.
• Lawyer turned consultant Marc Hauser discusses Innovative Industrial Properties, the real estate investment trust (REIT) coping with several recent client defaults. 
• Hauser also notes with delight that Curaleaf is the latest to play the cannabis is federally illegal card in federal court. The big MSO argues essentially, that since its business is federally illegal, its contracts are not enforceable.
• Canadian operator Organigram entered the U.S. hemp beverage market by acquiring Collective Project Beverages.
• Big MSO Trulieve is an official partner of sports league Ultimate Frisbee Association. 
• Ohio-based fintech Spendr, which does dispensary payments and customer retention, raised $2.7M.
  CincyInno
• Sean Hocking, who runs Cannabis Law Report, put out a list of the top 200 cannabis accountants.
• Hemp-derived brand Calexo has a non-cannabis version of its drinks available at Walmart.com.

State and local:

• Dasheeda Dawson, who resigned as head of New York City’s equity program, denied the allegations in a sexual harassment investigation she’s facing and said it was unrelated to her decision to step down. 
• MJBiz interviewed Felicia Reid, New York state’s acting top regulator.
• A New York co-op dweller asked an advice columnist what to do about pot smoking neighbors.
  NY Times
• Delaware’s REC program hit a snag at the FBI.
  Cannabis Business Times
• Maryland lawmakers approved a pot tax hike.
  NORML
• Ohio lawmakers shelved a tax hike for the year.
  Green Market Report
• Florida officials fined a group trying to get REC on the 2026 ballot. It’s the same group behind the unsuccessful 2024 initiative.
• A Florida bill to restrict
• Oklahoma activists are also prepping a 2026 REC initiative.
  Marijuana Moment
• A Colorado lawsuit alleges a company stumbled onto a “blueprint for laundering” weed.
  MJBiz 
• A bill in Maine would allow consumption lounges.
  The Marijuana Herald

Fun and interesting:

• A new short film called “Hi! You Are Currently Being Recorded” bills itself as a “stoner-surveillance-thriller.” 
• A small research institute has access to a legendary vault of untried psychedelics.
  @doubleblindmag
• For what I think is an April Fool’s joke, California brand Korova promoted a beverage containing 10,000 mg of active cannabinoids. “So strong it comes with our lawyer’s number.”

Business:

• Vertical operator Gold Flora, one of the state’s largest, filed for receivership.
  MJBiz
• THCDesign rebranded ahead of a national expansion push.

Local:

• A rueful article argues Santa Barbara Co. supes saved the California industry by appealing a court ruling that cannabis is illegal to the state’s highest court.
  Montecito Journal
• Desert Hot Springs may cut its retail tax.
  Desert Sun

Crime:

• A former California attorney was sentenced to 25 years in a CBD tequila scam that swindled $18M from investors.
  SFGate

Upcoming:

• The String Cheese Incident will headline Cannifest, August 30-31 in Humboldt.
  Live for Live Music