Hi all,

Happy Friday!

Lots of hemp stuff today. Let’s get to it.

In the newsletter:

• Catalyst maintains disputed tax stance

Hope you find it valuable,

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

Catalyst Cannabis, one of California’s largest retailers, is maintaining a tax position rejected by California’s tax agency, and over which Catalyst is currently suing the agency.

Catalyst’s interpretation enables it to reduce costs for certain products and perhaps reduce its tax burden. However, outside lawyers say the practice exposes the company to significant risk. 

Asked about the situation, Catalyst CEO Elliot Lewis declined to comment.

Read the story

Federal:

• Elon Musk’s DOGE program touted the cancellation of a National Institutes of Health (NIH) grant studying the risks of cannabis for women and LGBT populations.
  Marijuana Moment
• Court documents are fueling suspicions that the DEA “rigged” the rescheduling process.
  MJBiz

Business:

• Execs with MSO Cannabist highlight progress on their turnaround plan despite a $200M loss.
  Green Market Report
• Vape companies worry tariffs on Chinese goods will lead to unsafe vape hardware.
  MJBiz
• Jake Bullock, CEO of cannabis/hemp beverage brand Cann discussed the cannabis/hemp civil war.
• Investment firm Poseidon announced a strategic partnership with ancillary players Würk and C15 Solutions.
• Pistil Data CEO Jeffrey Graham posted a 2022 infographic on the tech sector and notes that many of the pictured companies are no longer around.
• @poetryofplants posted that “fairly functional” picker robots are now available for less than $30,000.
• Execs crow to Vertosa CEO Ben Larson that THC drinks are the “fastest growing beverage category ever.”
• Cannabis Business Times has a list of the 15 best cannabis companies to work for.

State and local:

• Oregon’s secretary of state withdrew a scandal-marred audit that led to the resignation of his predecessor.
  Oregon Capital Chronicle
• Bills in the Kansas legislature would legalize MED and REC.
  Fox
• The Wall Street Journal reports on how the industry hasn’t worked out for Pueblo, Colo.
• New York based Empire Cannabis Club claims 2023 raids were unconstitutional.
  Green Market Report
• Two anti-hemp bills passed the Georgia senate.
  Rough Draft Atlanta
• Hemp lawyer Rod Kight calls North Carolina’s hemp bill a “model” for other states.

Health and science:

• The FDA warned Sacramento company Pico IV, which sells an injectable CBD product, that the product risked harming consumers. It further warned that marketing it as a “dietary supplement” is against the law. The company’s CEO said that it is confident in the safety profile of the product and is working to resolve the FDA’s concerns. California does not allow licensed cannabis products to be injected.
  SFGate
• States are trying to figure out a way to measure whether drivers are high.
  NPR

Book:

• Longtime activist Sabrina Fendrick (one of the first people in the ecosystem I interviewed) has a new memoir: Tokin’ Female: Women, weed and the war on prohibition.

Fun and interesting:

• “The pit,” a counterculture hangout across from Harvard Yard, has been demolished.
  Axios Boston
• Veteran weed journo Sharon Letts pays tribute to British Columbia MED activist Corrie Yelland.

State:

• Gov. Gavin Newsom extended the hemp-derived products ban through the end of June. It can be extended once more.
  SFGate
• A bill would legalize the sale of low-dose hemp beverages. Kraig Fox discusses it in a post.
• California could ban MED for workers’ comp recipients.
  Redheaded Blackbelt

Business:

• Blum Holdings announced a profitable 2024.
  Green Market Report
• Leef Brands says it is weeks away from planting one of the world’s largest cannabis farms in Santa Barbara County.
• A retailer failed in its effort to challenge California’s pro-union law due to federal illegality.
  Bloomberg Law

Local:

• San Diego is raising its pot tax 25%, though supporters of the measure acknowledge it may actually lose money for the city.
  Cannabis Business Times, KPBS
• Fresno city council introduced a plan to manage the city’s 140 smoke shops.
  ABC
• A notoriously skunky grow in Santa Barbara Co. has been shut down on account of bankruptcy.
  Independent
• Santa Cruz County supes advanced lounges.
  Santa Cruz Local
• National City (San Diego Co.) is considering expanded hours for its cannabis lounge and shops.
  San Diego Union-Tribune
• Hundreds of Humboldt farmers are expected to lose their licenses over a tax debt.
  MJBiz
• Delaware REC licensees are eager to open.
  DelawareOnline

Upcoming:

• The Farmer’s Cup, the first publicly licensed cannabis festival in San Diego County, is this weekend in Vista. Berner is headlining.
  NBC
• UNLV’s Cannabis Policy Institute is hosting a March 24 panel discussion on the national market.