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Maryland legalizes ‘smokeless’ consumption lounges 🌿
Plus, Cannara Biotech earnings, 4/20 sales numbers, and more
Jeremy Berke
April 29, 2025
Good morning.
Canadians went to the polls yesterday and Prime Minister Mark Carney kept his job. At the time we pressed “send” last night, it was too early to say if the Liberals will have a minority or majority government. We’re going to dig into how Canadian cannabis policy will shake out under the new government. If you have thoughts, drop us a note by replying to this email.
Also, today is the kick off of a new partnership with the Hemp Beverage Alliance. We’ll share more about this partnership in the coming weeks.
Let’s get to it.
-JB, JR, and ZH
This newsletter is 794 words or about a 6.5-minute read.
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⏩ Quick hits
Maryland legalizes smokeless consumption lounges 🚭
Governor Wes Moore signed SB 215 into law last week, which would allow cannabis consumption lounges. The only catch is that smoking will not be allowed. Instead, patrons will be able to consume edibles and THC beverages on site. The new law also limits beverages to 5 mg of THC and they can only be produced by an operator with a cannabis license.
Dutchie retailers’ 4/20 results 🌿
In a post on LinkedIn, Dutchie’s CEO Tim Barash shared stats from Dutchie retailers’ 4/20 weekend. According to Barash, 4 million orders were completed over the 4/20 weekend on Dutchie, $270 million dollars in sales (peaking at almost 3,000 orders a minute), and Dutchie retailers signed up their one millionth customer for their Pay By Bank payment option.
MJBizDaily predicts cannabis will add $123.6 billion to U.S. Economy 🧐
The economic impact of state-legal cannabis is expected to grow 9% in 2025, according to the latest MJBiz Factbook update. Although maturing states are seeing financial tightening, there are enough emerging markets in states and states on the verge of legalization to expect continued growth nationwide.
Good Morning America discovers THC drinks 🍸
Market Research Company Euromonitor International predicts that THC beverages could become a $4 billion industry by 2028. The increased visibility of THC drinks in liquor stores and grocery stores could mean the industry is becoming mainstream -- at least mainstream enough to be featured on Good Morning America.
Three research firms seek to assess health of Missouri industry 🌡️
The State of Missouri has commissioned an economic study on the state's cannabis industry in order to determine if regulators should issue new licenses. Currently, Cannabis Public Policy Consulting, Capital Consulting Services and Whitney Economics are all competing to produce that economic study.
📣 Quotable
“Retailers are adjusting their prices as part of their competitive strategy as more locations have opened,” John Kagia, the New York Office of Cannabis Management’s executive director of market policy, innovation, and analytics, told The New York Post for a story about price compression in the New York market..
“While it remains a little early to determine all the factors driving the retail price compression, it is common to see price compression as new markets mature and competition intensifies.”
Learn about the Hemp Beverage Alliance*
The Hemp Beverage Alliance is the national trade association and leading advocate for the hemp beverage industry.
With a membership of more than 250 brands, supply chain partners, retailers and distributors, HBA is creating a safe and thriving hemp beverage marketplace through education, advocacy, best practices and partnership.
Join the HBA and keep up to date on legislation, events, and other happenings in the industry. And be sure to join us July 9-11 in Atlanta for our second annual Hemp Beverage Expo.
For more information visit hempbeveragealliance.org
The #futureofdrinking is #hempinfused
*PARTNER CONTENT
🤝 Deals, launches, partnerships
Pennsylvania University launches Cannabis Academy 🚀
Alvernia University in Reading, PA, announced a partnership with the Cleveland School of Cannabis to launch its own Cannabis Academy. The school will offer certification programs related to the industry, such as cultivation, extraction techniques and dispensary operations. The program was launched in anticipation of growing workforce needs if Pennsylvania legalizes adult-use.
💰 Earnings round up
High Tide reports high sales on "high holy day" 💲
Canadian operator High Tide announced yesterday that it brought in $6.8 million in sales over the 4/20 holiday weekend. Those figures represent a 10% increase from sales at the same time last year.
Cannara Biotech announces $26.6 million in Q2 revenue 📈
The Quebec-based cannabis producer saw a 35% increase in revenue, which the company credits to an increase in market share in Quebec, Ontario and Alberta. Cannara Biotech also reported $10.8 million in profit for the quarter, up from $7.1 million in Q2 2024.
📰 What we’re reading
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