The Texas hemp ‘hot potato’ 🥔

"It seems like a lot of people don't want anything to do with it. It's a hot potato," Hometown Hero CEO Lukas Gilkey said of Texas’ proposed hemp ban. 

The most recent ban was passed on August 19 and would completely outlaw intoxicating hemp products in the Lone Star State. The special legislative session can last no longer than September 14, meaning that time is running out for SB 6. The Texas Tribune has more.

Judge orders Massachusetts to reinstate embattled CCC chair 🪑

A judge in Boston ordered the Massachusetts Cannabis Control Commission to reinstate Shannon O'Brien as its chair. O'Brien was originally appointed chair in 2022, but was suspended about one year later and eventually fired in September 2024. O'Brien then sued the state, alleging that her firing was illegitimate and a result of her attempt to address a toxic work culture for the CCC behind the scenes. O'Brien will be permitted to serve out the remainder of her five-year term which ends in 2027. 

Top government legal figures push for SAFER Act 🏦

Attorneys General from 28 states and 3 territories (both Red and Blue) sent a letter to congressional leaders on August 24 to pass the SAFER Banking Act, a cannabis banking bill. The letter was sent to the Senate  Majority Leader, the House Speaker and their Democratic counterparts, in addition to all chairs and ranking members of the Senate Banking Committee and the House Financial Services Committee.

Oregon officials push for cannabis lounges ☕

Dan Rayfield, Oregon’s Attorney General, approved a ballot title to legalize social cannabis lounges as part of efforts by the Oregon Cannabis Cafe Coalition (OCCC) to get the initiative on the 2026 ballot. Once the ballot title is confirmed, advocates can begin petitioning and will need slightly over 117,000 valid signatures to get the initiative on the ballot. 

Two-thirds of voters want legal weed ✋

A new Emerson Collegepoll finds that a strong majority support legalizing cannabis. Of 1,000 likely voters polled, 65% said they support legalizing cannabis, with the support highest among voters in their 40s (74%), followed by those under 30 (71%). The polling reflects a larger trend of growing support for legal weed among the electorate.

Shield Compliance: Licensed Operators Ready for Payments Innovation and Expanded Credit Access*

At the beginning of July, Shield Compliance launched their annual 2025 Financial Services Survey, seeking insights into the banking experiences and priorities of licensed cannabis operators across the U.S. 

Today, the findings were released by Shield Compliance and reveal progress, and persistent challenges, for financial institutions. 

Here’s what the Survey showed:

• Customer Service Satisfaction Remains Strong.
  More than 80% of respondents reported being satisfied or very satisfied with their financial institutions’ customer service, and over 70% were satisfied with the compliance requirements imposed by their financial institutions.

• Credit Access Is Still a Priority.
  Despite overall high satisfaction, operators remain concerned about cash flow and profitability, with a strong demand for operating lines of credit. Nearly 25% indicated they may switch financial institutions in the next year — up from 18% in 2024 — to improve cash flow by lowering fees or obtaining commercial credit.

• Fees Create Friction.
  Service charges are a major pain point. Half of the respondents expressed concerns, and more than 20% reported being very dissatisfied.

• Payments Innovation in Demand.
  Nearly 60% of operators said they want stronger retail and B2B payment solutions, signaling an opportunity for financial institutions to sponsor alternative payments providers.

• Regulatory Reform and 280E Relief Is Critical.
  More than 60% said cannabis rescheduling or relief from Section 280E would be vital to their long-term success. Notably, over 70% are exploring Employee Stock Ownership Plans (ESOPs) to ease the financial strain of 280E.

“The survey results highlight a paradox in cannabis banking,” said Tony Repanich, President and CEO of Shield Compliance. “Operators value their banking relationships yet demand for credit access and payments innovation underscores significant opportunities for financial institutions ready to lean in, particularly as the creditworthiness of operators improves with market consolidation and regulatory reform.”

👉 More from the 2025 Financial Services Survey. 

*sponsored

Federal Court says Dormant Commerce Clause does NOT apply to cannabis 🧑‍⚖️

In a break from a Second Circuit Court of Appeals ruling last month, the Fourth Circuit Court of Appealsdeclared that the Dormant Commerce Clause of the US Constitution does not apply to cannabis. The underlying case came out of Maryland, challenging that state's residency requirement for social equity licensees. This division between courts sets up a potential appeal to the Supreme Court of the United States.

Barney's Farm Genetics no longer merging with PowerPlant 🌱

Barney's Farm Genetics, an Amsterdam-based cannabis seed breeder has terminated its proposed merger with PowerPlant Inc. PowerPlant says that its mission is to pair investors with profitable cannabis seeds, but Barney's Farm Genetics claims that the company failed to meet deadlines for fund transfers.

Safe Harbor rolls out first fully managed cannabis banking program 🏦

Safe Harbor Financial launched the industry’s first fully managed cannabis banking program, letting banks and credit unions offer cannabis banking services while outsourcing compliance, onboarding, and operations. The company has already processed over $26 billion in deposits across 41 states and says the program reduces risk and overhead for financial institutions. More here.

Cornbread Hemp announces first-ever NCAA partnership 🤝

Kentucky-based Cornbread Hemp announced a sponsorship deal with the University of Louisville to promote THC drinks in D1 sports. The deal is the first of its kind in college sports and allows advertisement of the products but not sales at campus events. 

Rythm begins trading on the Nasdaq 📈

Rythm ($RYM) began trading on the Nasdaq on Tuesday. The new ticker was formed after cannabis firm Green Thumb Industries sold its product portfolio, including RYTHM, Dogwalkers, and Beboe, to subsidiary Agrify, which was then renamed to Rythm. The stock dropped over 5%.

AI meets cannabis cultivation 🌱 

The authors behind the book Clean Growing just launched CleanGrowerGPT, an AI-powered tool that gives cannabis cultivators instant, expert pest management advice. Growers who subscribe to the Clean Growers newsletter before Labor Day get early access — plus a free digital copy of the book.

A new NuggMD poll finds that 91% of cannabis consumers say the plant helps manage pain, with 65% calling it “very effective” and 26% saying it’s “mildly effective.” Just 4% reported little to no benefit, as Texas expands qualifying conditions like chronic pain.

What's in the Suitcase: Extra-Strength Cannabis From California to Britain | New York Times

GTI keeps doing stuff with Agrify | Cannabis Musings

Legal loophole has created a wild west of intoxicating hemp products in Ohio | Cleveland.com

Cheech and Chong's $100M cannabis empire reveals California's problems | SFGate