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Texas expands medical cannabis program 🌿

Plus, Canopy's tough year

Good morning. 

Welcome to another edition of your favorite daily newsletter. Today’s is jam-packed with important news — plus weekly insights from our partners at Lit Alerts. Today, the Lit Alerts team is talking Missouri.

Let’s get to it. 

-JB, JR, and ZH

This newsletter is 891 words or about a 7.5-minute read.

Today’s newsletter made possible by our Official Insights Partner:

Quick hits

After hemp ban, TX lawmakers vote to expand medical program 🩺

The Texas legislature may be trying to ban hemp, but the same governing body just sent House Bill 46 to Governor Greg Abbott's desk, which would expand the state's medical cannabis program. Under the new bill, 15 operators would be allowed to dispense, up from three. Aerosol and vape products will now be allowed, though flower is still banned. Patient access would expand to include those with chronic pain, traumatic brain injuries, or those near the end of their lives. 

California bill seeks to delay tax hike 👀

A California bill that seeks to delay a proposed cannabis tax hike from 15% to 19% will get an Assembly vote this week, Marijuana Moment reports. The tax hike is part of Gov. Gavin Newsom’s effort to pave over a budget shortfall, but the industry and activists say it will push more cannabis companies out of business.

Trump calls for end to state medical market protections...again 💸

In President Donald Trump's proposed budget for fiscal year 2026, he is seeking an end to a budget rider that has blocked funding for legal action against state-legal medical programs since 2014. Trump made the same request for all four of his budget requests during his first term and each time, Congress opted to keep the rider. Trump also asked for a separate rider, from anti-cannabis Rep. Andy Harris, to remain that has blocked Washington, D.C. from creating a recreational cannabis market, despite the wishes of District voters. Marijuana Moment has more.  

Florida officials send out final warning about June 16 hemp regs ⌚

Under the new rules, certain color additives are banned so as not to appeal to children. Hemp producers also have to adhere to new sets of packaging and advertising guidelines along with requirements for certificates of analysis. The Tampa Free Press has more.

💰 Earnings roundup

Canopy Growth reports Q4 and full-year results 📉

Canadian cannabis giant Canopy Growth reported its full year and fourth-quarter results on Friday. For the full year, the company reported a $604 million (CAD) net loss on $269 million in revenue. For Q4, the company reported a $222 million net loss on $65 million of revenue, down about 13% from the same quarter last year. The company said it was able to pay down half of its debt — about $293 million. The company’s stock is down about 58% this year. CEO Luc Mongeau took over in January and is working on a turnaround plan.

🔎 Exclusive insights from Lit Alerts

INSIGHTS
What brands are challenging the Top 10 in NY?

Most of the time everyone is focused on the top 10 rankings for brands.

But what about the brands that are on their way up but haven't yet broken the top 10?

Lit Alerts calls these the “challenger brands” as they challenge the top seeded brands. These are the types of brands that retailers should and could be looking for and using Lit Alerts to find them.

Have a look at the June 2025 challenger brands in New York, based on estimated sales 👇

To learn more about Lit Alerts and get a special offer only available to Cultivated readers, visit litalerts.com.

🔬 Science and research

Cannabis use among older adults is on the rise 🧓

A recent study from researchers at New York University found that 7% of adults 65 and older said that they had used cannabis in the prior month. Although single-digit, that figure represents an all-time high for seniors, of which only 4.8% had used cannabis in the last month in 2021. Researchers speculated that the increase in states with legal medical programs is likely making it easier for seniors to access THC. 

Cannabis sales up, booze slightly down in Nova Scotia post-legalization 🌿

A new study published in the International Journal of Drug Policy found that after recreational cannabis was legalized, alcohol sales dipped slightly overall — down 1.2% across the province. But stores that sold both cannabis and alcohol actually saw a 3.1% bump, while alcohol-only stores dropped 2.4%, suggesting mild consumer substitution and co-use where both were available. Check out the full study here.

🚀 Deals, launches, partnerships

Village Farms International puts produce on the periphery 🥕

The Vancouver-based cannabis firm announced the close of a transaction on May 30 that will privatize most of its produce business. "For the past eight years we have carefully built our cannabis business based upon our learnings from over 35 years in controlled environment agriculture, and now we are ready to move forward independently from produce," said Village Farms CEO Michael DeGiglio.

📰 What we’re reading

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