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Jack Daniel’s maker says cannabis is eating into whiskey sales 🥃

Plus, cannabis can slow breast cancer

Good morning. 

Happy Monday, everyone. To all of our readers who are at the Benzinga conference in Chicago, enjoy your time and please spread the good word about subscribing to Cultivated! We’re bummed to miss it this year.

-JB, JR, and ZH

This newsletter is 862 words or about a 7-minute read. 

Today’s newsletter made possible by:

📣 Quotable

"Going back to my playing days, I was a cannabis user," Former NHL player Riley Cote, 43, told The Philly Voice in an interview about his new partnership with Trulieve. 

"I didn't understand the true therapeutic value, the medicinal value of the plant. I knew that it was helping me. It was certainly helping me relax and manage some performance anxiety and sleep.”

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Quick hits

D.C. retail is booming 💣

A little more than a year after the first quasi-legal cannabis gifting shop converted to a legit medical license, cannabis sales in the District have spiked, hitting $5.46 million in April, 2025. This produced about $327,000 in sales tax revenue, which is supposed to go to the Medical Cannabis Social Equity Fund starting Oct. 1, 2026. Given the district's current financial straits and the fact that it has redirected cannabis tax revenue in the past, the Outlaw Report cast doubt on those funds eventually landing in the social equity fund. 

Missouri secret shoppers start July 1 🧪

The Show Me State is requiring cannabis vendors to show them the testing results. Starting July 1, the Division of Cannabis Regulation will be sending secret shoppers to pull at least 50 products from the shelves of licensed retailers to confirm the testing results on their labels in terms of potency and contaminants. 

Hawaii's Governor considering veto of cannabis bill 📜

Governor Josh Green announced that he is planning to veto 19 bills, including one that would expand access to medical cannabis patients by allowing telehealth diagnoses. Green said he was committed to expanding access, but was concerned that HB 302 would also potentially allow invasions of privacy, because it authorizes the state’s Health Department to inspect medical patients' records. The bill would also allow dispensaries to sell hemp products and it would ban home growing without a cultivators' license. The legislature has until July 9 to renegotiate the bill or convince Green to not take action. 

Deli style on the outs in Oklahoma 🥪

A new law took effect on June 1 in the Sooner State that replaces deli-style sales at dispensaries, where customers can inspect jars of flower before it is portioned out for sale, with pre-packaged products. Billy Parker, who owns Jubel LLC in Tulsa, told News 9 that the new rules may increase prices, but that he believes they also ensure safety and accuracy in labeling.

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🚀 Deals, launches, partnerships

Jack Daniel’s maker says cannabis is eating into whiskey sales 🥃

The CEO of the company that makes Jack Daniel’s, Lawson Whiting, said increased cannabis use is putting “pressure” on liquor sales, during the company’s fiscal year 2025 earnings call on Friday. Read more

Ayr Wellness reaches waiver agreement with senior lenders ⌚

The cannabis company announced that it reached an agreement with its senior debt holders to temporarily hold off triggering a default until June 19. The company, which operates dispensaries across eight states, missed the deadline to file its first-quarter earnings, which would have put the company in default without the waiver. The company said it was unable to file, because it was still in the middle of renegotiating a debt restructuring ahead of their due date.

🔬 Science & research

Research shows cannabinol can slow breast cancer 🔬

French researchers found that when cannabinol, a compound found in the cannabis plant, is combined with breast cancer medication exemestane, there was a significant improvement in treating the disease. The study, published in the European Journal of Pharmacology, indicates that cannabis can be used as more than anti-nausea treatment during chemotherapy.

📰 What we’re reading

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