Dealflow is accelerating (Paywall) with an eye on the mid-Atlantic's biggest prize: New York's REC market. Both  Gov. Andrew Cuomo(D) and more progressive lawmakers are eager to legalize this year, potentially as soon as April 1, when the state budget process ends.
Business Insider

• Ascend Wellness acquired a controlling stake in MedMen's New York operations for $73M.
  Benzinga
• Acreage sold its Florida operations to Red, White and Bloom Brands for $60M.
• Business Insider assessed the juiciest acquisition targets. (Paywall)
• Meanwhile, a lawsuit looks at New York's MED licensing process in 2015 and 2016, during which several MSOs grabbed licenses likely to be eligible for the REC market. It raises the possibility of unsuccessful applicants filing additional suits.
  MJBiz 

Quick Hits

1. In California, Indus Holdings acquired pre-roll brand Lowell Herb Co. for $39M.
   Benzinga
2. After many stops and starts, Hightimes Holdings is targeting 4/20 to go public in an over the counter offering.
   Cheddar

Tax experts are sounding the alarm that California regulators have stepped up their tax enforcement with audits and steep bills in store for some businesses. 
MJBiz

• The pile up owes to various factors kicking in three years after the state REC market opened.
• Numerous audits are reportedly already underway.
• “It should be no surprise these are beginning, and they will be very productive for the state of California,” predicted CPA Patrick Finnegan, a former state auditor. "It's going to be a turkey shoot."
• One attorney estimated the city of Oakland alone is owed more than $10M.
• PLUS: The head of the IRS said he would "prefer" it if the industry could pay its taxes electronically.
  Marijuana Moment

Congressman John Yarmuth (D-Ky.), chair of the powerful House Budget Committee, purchased several pot stocks while advocating for legalization, Popular Info reported.

• In November, Yarmuth purchased between $1,000 and $15,000 in Canopy Growth Corporation, Aurora and Tilray, according to a filing. 
• Weeks later he promoted his co-sponsorship of the MORE Act, which would decriminalize federally and passed the House of Representatives.
• In February, he increased his holdings in the three stocks.
• A spokesman for the Congressman said it was ethical because he did so transparently.
• Members of Congress can trade stocks, but not based on inside information.

More happenings:

• A study found middle-aged adults claim 20% less in workers comp in states where REC is legal. "It suggests people who use cannabis have a better work capacity and that they'll make fewer mistakes," one of the authors said.
  NorthJersey.com
• The idea of cannabis potency limits is gaining some traction amid concerns of mental illness and teen use. Industry group U.S. Cannabis Council opposes them.
  Bloomberg
• A California cannabis business owned by two feuding partners will remain in receivership despite one of the men facing criminal charges for allegedly soliciting his partner's murder, a California court ruled. (Paywalled) Read more at Voice of San Diego.
  Law360
• Washington state's supreme court effectively decriminalized all drugs.
  Fox
• A report projects the legal industry's water use to double by 2025.
• Scotts Miracle-Gro's hydroponics brand Hawthorne Gardening launched a $2.5M social justice fund.
• Morocco is set to legalize MED production.
  Reuters
• Marketing tech firm Fyllo tapped Twitter's head of brands Katie Ford as COO in a bid to bring cannabis ads to mainstream platforms.
• NGO Students for Sensible Drug Policy named alumnus Jason Ortiz as its executive director.
• In the forthcoming movie Clerks III, Jay and Silent Bob run a dispensary.
  NJ.com
• PR agency Grasslands talked to former WeedWeek California editor Donnell Alexander about weed, WeedWeek (and other things too.)