From the death of a cannabis legalizer to the revival of a meme war, this week brought sharp contrasts across the cannabis world. Global innovation advanced, with Canada's GrowerIQ landing in Thailand and Curaleaf's medical vaporizer getting EU clearance, while in the U.S., outdated enforcement strategies resurfaced at the DEA.
Sales are up, jobs are down, California is raising taxes and DoorDash is delivering hemp drinks. In New York, padlocked illegal shops may soon reopen. In Indonesia, a basketball player faces a possible death sentence over cannabis candy. And from Berlin to Bogotá, Uruguay's public health cannabis model—crafted by José "Pepe" Mujica—still offers a beacon, even as it risks being left behind.
Organigram (NASDAQ:OGI) reported a 74% year-over-year revenue increase, reaching $45.7 million and beating the consensus estimate of $42.28 million. The boost came from international and recreational sales, including contributions from its Motif acquisition. Adjusted EBITDA reached CA$4.9 million, up from a CA$1 million loss a year ago.
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Planet 13 (OTCQX:PLNH) posted Q1 2025 revenue of $28 million, a 22.5% increase from Q1 2024, largely driven by new Florida dispensaries. Gross margin dropped to 42.8%, while adjusted EBITDA came in at a $2.5 million loss, down from break-even last year.
Village Farms International (NASDAQ:VFF) announced a $40 million cash deal to offload its produce division into a joint venture backed by Sweat Equities. The company posted Q1 revenue of $77.1 million and a net loss of $6.7 million, though its Canadian cannabis business generated $3 million in net income.
Glass House Brands (OTC:GLASF) reported Q1 revenue of $44.8 million, up 49% year-over-year, with biomass volume up 149% and cost per pound down 41%. Adjusted EBITDA came in at $4.4 million, exceeding guidance.
LEEF Brands (OTC:LEEF) announced a dispensary management and biomass supply agreement with Glass House Brands. The deal allows each to focus on core strengths—retail for Glass House, extraction for LEEF.
iAnthus (OTC:ITHUF) reported Q1 revenue of $38.1 million, down from Q4 2024. However, it recorded $5.1 million in net income, driven by asset sales. Adjusted EBITDA was $3.2 million.
Ascend Wellness Holdings (OTC:AAWH) reported Q1 revenue of $128 million, down 5.9% sequentially, with retail and wholesale both declining. Net loss widened to $19.3 million, but the company generated $5.9 million in operating cash flow.
Hydrofarm Holdings (NASDAQ:HYFM) reported Q1 net sales of $40.5 million, a 25% drop year-over-year, and a net loss of $14.4 million. SG&A costs were reduced 11%.
Charlotte's Web Holdings (OTC:CWBHF) reported its first year-over-year revenue increase since 2021, with Q1 2025 sales of $12.3 million. Gross margin reached 50.8%, and the net loss narrowed to $6.2 million.
AFC Gamma (NASDAQ:AFCG) reported Q1 net income of $4.1 million, or $0.18 per share. The company emphasized reduced exposure to distressed borrowers and maintaining credit discipline.
Terrance Cole, President Donald Trump's nominee to lead the DEA, declined to take a clear position on the federal rescheduling of cannabis during his confirmation process. In written responses to Sens. Cory Booker and Alex Padilla, Cole said he would "give the matter careful consideration" but avoided answering whether he would follow the recommendation to move cannabis to Schedule III.
While Cole said rescheduling would be a "priority," he offered no timeline or commitment. His vague stance comes as administrative rescheduling efforts remain stalled amid legal challenges.
Full story on Marijuana Moment
The DEA partnered with Johnny's Ambassadors to promote National Prevention Week with a meme campaign alleging cannabis use causes infertility, suicide, depression and psychosis. The agency published these messages on its youth-targeted sites, JustThinkTwice.gov and GetSmartAboutDrugs.gov.
One meme claimed "50 Woodstock joints = 1 dab." Another warned: "Failing in school? Stop using THC."Critics, including NORML's Paul Armentano, slammed the effort as misleading and unscientific. "These are distortions based on outliers and cherry-picked data," he told Marijuana Moment.
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Mayor Eric Adams marked the one-year anniversary of his administration's crackdown on unlicensed cannabis shops by celebrating the transformation of a shuttered smoke shop into a pizza joint in Queens. But the effort may be unraveling.The court orders used to padlock 1,400 shops are now expiring, potentially allowing many to reopen. A New York Times report showed that even near legal dispensaries, unlicensed shops remain common. Licensed operators say enforcement remains inconsistent and insufficient.
Adams blamed former Governor Andrew Cuomo for legal chaos, saying "I had to clean up a lot of the stuff that the former governor did." Cuomo's camp fired back, accusing Adams of mismanagement.
Full story on New York Times
Governor Gavin Newsom's revised state budget maintains plans to raise California's cannabis excise tax from 15% to 19%, effective July 1. The increase, triggered by a 2022 law, comes amid declining legal sales and widespread closures.
Amy O'Gorman Jenkins of the California Cannabis Industry Association warned the hike could devastate the regulated market: "California’s legal cannabis industry cannot withstand a more than 25% tax increase."
A bill by Assemblymember Matt Haney to freeze the hike is gaining bipartisan support, but must be passed before the final budget vote in June.
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Jarred Shaw, a 34-year-old Dallas native and professional basketball player in Indonesia, was arrested on May 7 after allegedly receiving a package from Thailand containing cannabis-infused candy.
Police in Jakarta seized 132 pieces of candy and charged Shaw with smuggling, which carries a possible life sentence or death penalty under Indonesian law.
Shaw reportedly told police he planned to share the candy with teammates. His club, the Tangerang Hawks, terminated his contract, and the Indonesian Basketball League banned him for life.
José "Pepe" Mujica, former president of Uruguay and the first head of state to legalize adult-use cannabis, died this week at 89. A former guerrilla turned statesman, Mujica prioritized public health over profit when launching the world's first legal cannabis framework in 2013.
Today, over 100,000 Uruguayans access cannabis legally through pharmacies, home grow, or cannabis clubs. Recent data shows that problematic use remains stable at 2.1%, overall use is down since 2018, and the average age of first use has risen.
But the model faces challenges. Products are capped at 20% THC, retail access is limited, and innovation has stalled. "The positive impact is proven," said Expo Cannabis Uruguay director Mercedes Ponce de León. "But if the framework isn’t updated, the model risks becoming symbolic."
Despite its constraints, Uruguay's influence is clear—from Germany's cannabis clubs to Colombia's export model. Mujica's death ends a political chapter, but the legacy he built still guides global reform.
The cannabis industry added $1.3 billion in U.S. sales in 2024—but lost over 15,000 jobs, according to Vangst and Whitney Economics. Total employment fell 3.4%, even as sales rose 4.5% to $30.1 billion.
Analysts call it a "strategic reset," as operators cut full-time roles, leaned on seasonal labor, and prioritized profitability over scale. Just 27.3% of businesses were profitable in 2024.
Job gains were seen in markets like New York, Ohio, and Mississippi, while deep cuts were seen in Illinois, Arizona, and Maine.
With $34 billion in sales forecast for 2025, hiring may recover—but only if taxes ease and more consumers return to legal channels.
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THC-infused drinks and edibles are surging on DoorDash (NASDAQ:DASH). The company's latest Delivery Trends Report shows hemp beverage orders rose 19% and THC edibles 15% between December 2024 and January 2025. DoorDash launched hemp-derived THC sales in January, capitalizing on the growing demand for alcohol alternatives.
Cannabis drinks continue gaining share across multiple channels—from dispensaries to direct-to-consumer platforms. Meanwhile, new nicotine-style THC pouches are being positioned as the next billion-dollar format.
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Justice & Reentry
The Last Prisoner Project announced that Jose Sanchez, recently released after serving four years for a cannabis conviction, has reunited with his family. He'll receive a re-entry grant to support housing, food and education.
From Homeless to Industry Leader: Dr. Chanda Macias' powerful rise.
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The $30 Billion Question: Can THC pouches become the next Zyn?
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Father, Son, Cannabis: A family rift healed—and two businesses launched.
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Big Tobacco's Next Play: A major investment in medical cannabis.
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Scoring Weed Like Wine: A 100-point system launches in New York.
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