Good morning.
Well, it’s never a dull moment in cannabis: Jeremy returned from an international red eye flight to discover that Chase has unilaterally decided to shut Cultivated’s bank account without any explanation or recourse.
Unfortunately, this is still happening in cannabis in ‘26. Of course, this has happened to many of you reading this and to thousands of cannabis businesses across the US. It’s yet another call that Congress needs to fix this untenable situation for thousands of job-creating businesses like ours and yours.
And with that throat-clearing out of the way, a short newsletter today while we try and get our business back on its feet.
-JB, CC, JR
Today’s newsletter is 872 words or about a 6.5-minute read.
THIS NEWSLETTER MADE POSSIBLE BY:
📣 Quotable
“While some in Harrisburg claim we can’t afford to make bigger investments in our kids, public safety, and our economy, know this:
If we legalized and regulated adult-use cannabis, we’d bring in $1.3 BILLION in revenue for our Commonwealth over the first five years,” Pennsylvania Gov. Josh Shapiro said, who continues to beat the drum for cannabis reform in his state.
⏪ In case you missed it
Tax season is complicated for any business — but for cannabis operators, it's a different level entirely. In this episode of Banker on Call, Shield Compliance President Tony Repanich sits down with Jill Scher, Managing Director of Tax & Business Services at CBIZ, to break down the real decisions licensed operators need to make right now.
Cannabis Finally Has a Credit Tool That Works for Both Sides
Every other industry runs on credit. Retailers order inventory on terms. Suppliers extend net-30s to build relationships. The whole system moves because cash doesn't have to change hands at the moment the deal is made.
Cannabis operators have largely been shut out of that system — until now.
ReadyPaid is a B2B Buy Now, Pay Later platform purpose-built for cannabis and hemp.
For buyers, it means up to six months to pay, predictable cycles, and the purchasing power to capitalize on big moments — like the 4/20 weekend ahead.
For sellers, it means getting paid upfront while offering buyers the flexibility they want. No waiting. No risk. Up to a 45% increase in average order size.
The platform is backed by FundCanna, the leading cannabis financing company in the U.S., with nearly $250M funded to date.
If you're heading into 4/20 constrained by cash flow, there's a better way.
→ Learn more at ReadyPaid.com
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⏩ Quick hits
Baltimore has collected more than $35 million in cannabis tax revenue earmarked for communities harmed by the drug war, but a fight between City Hall and the independent reparations commission over who controls the money means not a dollar has reached residents — and the first disbursements may not come until early 2027, reports the Baltimore Beat.
The DEA confirmed in a new court filing that the cannabis rescheduling appeal process "remains pending" with no briefing schedule set, despite Trump's December executive order directing the attorney general to move cannabis from Schedule I to Schedule III "in the most expeditious manner," reports Marijuana Moment. It's the fifth consecutive status report with essentially identical language, as the agency continues to stall on a process its own administrator pledged to make a top priority.
California cannabis companies are pushing back on a state bill that would cap THC beverages at 10mg, telling lawmakers that products above that threshold account for 93% of the category's $79 million in annual sales. The coalition, which includes Stiiizy and Pabst Labs, argues the cap would effectively kill the beverage segment and hand business to the illicit market. Read more.
🤝 Deals, launches, partnerships
Weedmaps is pulling its stock off Nasdaq, with shares expected to stop trading on the exchange around April 24 and move to OTC markets. The company cited the cost and hassle of staying listed, thin trading volume, and restrictions that a Nasdaq listing places on its ability to serve cannabis clients. $MAPS ( ▼ 43.23% )
👩🏻⚖️ Lawsuits
The Texas Hemp Business Council and a coalition of hemp farmers and retailers sued the state Tuesday, seeking to block new regulations that effectively ban THCA flower and pre-rolled joints by applying a "total THC" standard that industry groups say state agencies had no authority to create. The rules, which took effect March 31, also hike manufacturer license fees from $250 to $10,000 per facility and retailer registration fees from $150 to $5,000. Read more.
🧳 People moves
Dispensary software platform Sweed named Brad Cross as its new chief revenue officer, tapping the SaaS veteran to lead sales, marketing, and customer success as the company pushes deeper into the U.S. cannabis market. Cross most recently served as CRO at fintech firm Upflow. Read more.
📰 What we’re reading
The Right Schedule for Marijuana (Among Other Drugs) Does Not Yet Exist | Emory Legal Studies