Other than federal reform, the biggest cannabis regulatory question this year is whether New York will legalize REC. In addition to creating a huge new market, thriving weed businesses in New York City would signal to the rest of the country, and much of the world, that legalization is inevitable.
WeedWeek

I spoke to David Mangone, director of policy at The Liaison Group, a lobbying firm focused on federal cannabis reform, about what to expect in the Empire State. 

He's feeling pretty good about it.

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Meanwhile, Senate Majority Leader Chuck Schumer (D-N.Y.) told cannabis entrepreneur and former NBA star Al Harrington that he's merging several reform bills, a sign he may move forward with full legalization faster than some industry watchers anticipate. 

• And, Pennsylvania Gov. Tom Wolf (D) has REC legalization on his 2021 priority list.
  Marijuana Moment, 2x

This month, hip hop icon Jay-Z, in partnership with The Parent Company, a California-based portfolio of brands, launched what is probably the biggest and highest profile cannabis equity effort to date: A $10M investment fund which aims to back cannabis businesses owned by people of color.
WeedWeek

• Start-ups backed by the fund also stand to benefit from The Parent Company’s corporate heft and Jay-Z’s cultural megaphone. (He’s the company’s chief visionary officer.) 
• I spoke to Michael Auerbach, the SPAC executive who put The Parent Company together, about how the fund will operate, and his goals for it.

"The real exit in this industry, is the end of prohibition."

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Related: Illinois is generating tax revenue from legal sales, but its closely watched social equity program has gone nowhere.
Politico

When’s the last time, Stephen Miles asked rhetorically, that a consumer packaged goods industry could grow to $80B in annual revenue from scratch? 
WeedWeek

• Miles, CEO of Chicago-based Sharp Capital Advisors, had some interesting things to say in a recent interview. 
• We discussed how the smartest operators view the market, why brands aren't (yet) the way to win, and what big MSOs want from Congress this year. 

Hint: It's not full-federal legalization.

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The capital continues to flow. Canada-based TerrAscend, which has operations in several states, raised C$224M (US$175M) with 80% coming from four U.S. institutional investors.  

Goings on this week:

• Edibles were the top product category in 2020, according to California delivery service Eaze's annual crunching of its data. Gummies remain the most popular sub-category. Chocolate was second and drinks soared to third place.
• Ag-tech company Agrify went public on the NASDAQ.
• HR firm Vangst released its annual salary guide for the industry.
• California company Organicann Health Center is appealing its $1.3M tax bill to the U.S. Supreme Court.
  MJBiz
• Martha Stewart launched a line of CBD pet products through her partnership with Canadian operator Canopy Growth.
  Reuters
• A California mother has filed a wrongful death lawsuit against Weedmaps and a SoCal vape shop after her son was fatally shot by by a cannabis delivery worker.
  MJBiz
• A study found counties with more dispensaries have fewer opioid deaths.
  Daily Democrat
• More than half of people who use MED for pain relief experience withdrawal symptoms if they stop.
  The Conversation
• Refinery 29 talked to Kate Miller founder of chic e-commerce site Miss Grass.