Happy Friday, you’ve made it.
Don’t forget to tune into This Week in Cannabis Live at 9 AM Pacific/Noon Eastern. We’ll see you there.
Let’s get to it.
-JB, JR
Today’s newsletter is 586 words or about a 5-minute read.
💡 What’s the big deal?
NY, NY
New York Assemblymember secures $10 million for track-and-trace ✅
The scoop: Cultivated readers are surely aware of the financial burden many New York operators feel with track-and-trace compliance.
Assemblymember Landon Dais found a solution: He helped secure $10 million in the state budget to help operators purchase the 10 cent retail tags. And the money will be continuously funded — not a one time injection — which helps solve one of the growing industry’s biggest pain points.
For background on track-and-trace issues, read our story from January » NY’s Metrc rollout sparks lawsuit as cannabis operators warn of supply chain chaos
What he’s saying: “One thing I've learned in Albany, you need to be patient. And sadly though, I know there's a lot of people in the industry who’ve lost money,” he told Cultivated’s Jeremy Berke on Thursday’s live show.
“There are people running out of patience 'cause they're running out of money.”
Zoom in: Jeremy and Dais touched on many hot-button New York cannabis industry topics in their 25-minute chat, including Dais’ long-term commitment to cannabis justice, his anti-inversion bill working its way through Albany, and what he would do to fix the Empire State’s cannabis industry if he had a magic wand.
Dais brings a unique perspective to cannabis as a lawmaker. He served as an advocate at the Marijuana Policy Project and as an attorney at MedMen before getting elected.
The famous line from The Godfather is apt, he said: “Just when I think I was out, I get pulled back in."
⏩ Quick hits
New Jersey brings intoxicating hemp under cannabis regulation
New Jersey will bring hemp-derived products with more than 0.3% THC under the state's cannabis regulatory framework, in line with new federal rules, meaning they must now be tested, labeled, and sold through licensed dispensaries. THC beverages can still be sold in some retail settings through a transition period, but will be dispensary-only by November.
🔬 Science & research
Washington's social equity cannabis retailers are struggling to survive
Only 16% of approved social equity applicants in Washington have reported sales as of early 2025, and more than half of those operating fall below the state's threshold of economic viability. A new report from the Washington State Liquor and Cannabis Board points to three barriers: finding a location, raising startup capital, and competing in a saturated market.
📊 Chart of the day
The vast majority of cannabis startups are self-funded, pointing to the difficulties in accessing capital — either equity or debt — for many operators. That’s according to a report from First Citizens Bank and Whitney Economics. The report is chock full of good insights into the cannabis market. It may also point to why social equity operators have struggled in recent years. Read it here »
😜 One fun thing
More cannabis and move tie-ins: Scary Movie 6 is releasing limited edition, bong-shaped popcorn buckets. Nothing goes together as well as weed, movies, and popcorn.
📰 What we’re reading
Have you been boofed? Q&A with Bouf Du Jour creators | Marijuana Venture