Everything’s big in Texas, except the cannabis market. 

While industry operators salivate at the prospect of finding a foothold in the country’s second most populous state, there are many reasons why the Lone Star state could be a tough business climate for years to come. 
WeedWeek

At present, Texas probably has the country’s most restrictive MED program.

Read all about it.

Related: Virginia released plans to legalize REC. It would be the first state in the former confederacy to do so.
Times-Dispatch

Quick Hit

1. The National Cannabis Industry Association condemned "Some GOP lawmakers' attempts to undermine American democracy."

Beer giant Molson Coors is launching a line of CBD-infused beverages in Colorado, making it the highest-profile company I'm aware of to enter the U.S. CBD market. This week’s announcement came days after Democrats won control of the U.S. Senate in the Georgia runoff elections, creating a business climate observers widely believe will be friendlier to cannabis.
WeedWeek

• The brand, Verywell, is launching under Truss CBD USA, a joint venture between Molson Coors and Canadian cannabis company Hexo. The sparkling beverage contains 20 mg of CBD, zero calories and will be available in three flavors.
• Rick Batenburg III, Chief Investment Officer of Colorado-based venture capital firm Cliintel Capital, sees the Verywell launch as primarily a “stepping stone” for Molson Coors to enter the U.S. THC market.

Here's why.

In other CBD news: 

• The U.S. Food and Drug Administration released an article on its plans for CBD research. The hemp world wasn't pleased.
  WeedWeek
• The USDA released its long awaited final rule for hemp.
  Marijuana Moment
• Canna Law Blog says the future for smokable CBD "is not great."

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Here's what I'm reading:

• Michigan recorded nearly $1B in 2020 cannabis sales.
  New Cannabis Ventures
• MSO Cresco Labs said it would acquire Bluma Wellness in an all-stock deal worth $213M. It's a big move into Florida for Illinois-based Cresco.
• Canadian giant Canopy Growth is confident it will enter the U.S. market this year.
  BNN Bloomberg 
• MED is now legal in Mexico.
  Reuters
• After leaving Harborside, Steve DeAngelo talked to MJBiz about his future plans. He called the recent tough story in Politico about his non-profit Last Prisoner Project "a hit piece."
• Casino mogul Sheldon Adelson, perhaps the last megadonor to oppose U.S. cannabis legalization, died at 87.
  Chris Roberts -- Forbes
• Neuroscientist and Columbia University professor Carl L. Hart has a new book called Drug Use for Grown-Ups:Chasing liberty in the land of fear. In it he argues responsible drug use can be positive and writes “I am now entering my fifth year as a regular heroin user.”
  New York Times 
• Westword (Denver) flashed its 10 favorite pot photos of 2020.