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DEA nominee non-committal on rescheduling 🤔

Plus, cannabis drink market gets crowded

Good morning. 

It’s time for your daily dose of cannabis news. If you’re enjoying this newsletter, share it with your colleagues, friends, mom, worst enemies, or anyone who wants to know what’s going on in the industry.

Let’s get to it. 

-JB, JR, and ZH

This newsletter is 690 words or about a 6-minute read. 

💬 Quotable

“The overwhelming majority of voters want legalization, but that support falls off when lawmakers start discussing a state-run model. The polling shows it, the data shows it, and today’s bipartisan vote shows it… Pennsylvanians want a practical solution now — one that is bipartisan, offered in a way that can grow jobs and provide better product selection, and can get broad support. The time to pass legalization is now,” ResponsiblePA, an organization pushing for legalization in Pennsylvania, said in a statement. 

💻 In case you missed it

Jeremy and Jay chatted with Rebel Rabbit co-founder Billy Goldsmith on Wednesday morning’s Cultivated Live. 

Goldsmith discussed why he founded a THC beverage brand as an alcohol alternative, the challenges with building up a supply chain and marketing engine from scratch, and why he thinks THC beverages are ‘Red State Weed.’ 

Watch it 👇

🚀 Deals, launches, partnerships

Glass House and LEEF Brands enter partnership 🤝

Glass House Brands and LEEF Brands entered into an agreement where Glass House will run LEEF’s cannabis store, The LEAF El Paseo, in Palm Desert. As part of the deal, Glass House also has the option to buy cannabis from LEEF to use in its own products.

Whoopi Goldberg launches THC drink: ‘Whoop-Tea’ 🍵

Whoopi Goldberg is launching a hemp-derived THC drink, called Whoop Tea. She’ll unveil the product at the Cannabis Means Business conference in New York City next month.

Squier’s Specialty Elixirs launches THC seltzers 🍸

Portland, Maine based Squier’s Speciality Elixirs launched its line of hemp derived THC seltzers which it says will be available nationwide. Each can comes with 5mg and 10 CBD in flavors like Blueberry Lemon, Pink Pineapple, and Raspberry Lime. 

And more:

THC beverage brand Triple also added Pineapple to its low-dose variety packs. 

Quick hits

DEA nominee doesn’t commit to rescheduling 🤔

Trump’s nominee to lead the Drug Enforcement Administration, Terrance Cole, declined to specifically endorse reclassifying cannabis as a Schedule III drug in written testimony, per Marijuana Moment. Last month, Cole said restarting the rescheduling process would be one of his first priorities, though he didn’t indicate where the process would end up. 

Iowa Democratic candidate wants to legalize 🌿

The lone Democratic candidate for Iowa Governor, State Auditor Rob Sand, says he would legalize cannabis if elected. “Right now, Iowans across the state are driving across state lines, giving their money to Illinois,” he said

California budget includes tax increase 📉

California Gov. Gavin Newsom unveiled his budget on Wednesday — and unfortunately, it doesn’t roll back the excise tax increase on cannabis from 15% to 19%. It does, however, propose more enforcement against illicit operators.

New York pauses the sale of popular vapes and joints amid investigation 👀

New York State has paused sales of millions of dollars of top-selling cannabis vapes and pre-rolled joints amid an investigation into whether they were made with legally approved ingredients produced in the state, according to documents obtained by The New York Times. The brands on pause include Stiizy and mfused. 

Oklahoma licensing glitches 

A glitch in the licensing portal that the Oklahoma Medical Marijuana Authority uses inadvertently canceled thousands of medical marijuana business licenses, reports Fox25. The OMMA is aware of the issue. 

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📈 Stat of the day

Sixty-three percent of cannabis consumers say they’d go back to the illicit market if their local dispensary was shut down, according to a new poll from NuggMD shared with us. 

It’s yet another sign that price and convenience are paramount for shifting consumers to the legal, regulated market.

Check out the data below:

📰 What we’re reading

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