Good morning.
And we’re back!
We hope (many) of you had a restful and relaxing holiday with family and friends.
Let’s get to it.
-JB, JR, ZH, NM
This newsletter is 1,048 words or about a 7-minute read.
Today’s newsletter made possible by:
⏩ Quotable
“Rescheduling isn’t descheduling, and it isn’t about encouraging recreational use or opening more dispensaries,” Florida Rep. Brian Mast, a veteran, writes in an editorial for The Washington Times, supporting the move to reclassify cannabis from the most restrictive Schedule I of the Controlled Substances Act to the less restrictive Schedule III.
“It’s about responsibly expanding medical access and research.”
And his Florida Republican counterpart, Rep. Randy Fine, writes in a Newsmax editorial:
“When it comes to marijuana policy, it's time for the Trump administration to do what the feckless Biden administration couldn't, and wouldn't.”
⏩ Quick hits
Texas regulators adopts under-21 THC rules 🤠
The Texas Alcoholic Beverage Commission has issued rules barring liquor-license holders from selling hemp-derived THC products to anyone under 21, with enforcement beginning October 1. This follows Gov. Greg Abbott’s executive order earlier this month and the state legislature’s failure to pass a bill banning hemp-derived THC sales in the state. The Texas Tribune has more.
FinCEN reports shows 816 banks and credit unions serve the cannabis industry 🏛️
A new FinCEN report shows 816 banks and credit unions are still serving cannabis businesses despite ongoing legal uncertainty. Read more about how cannabis industry operators are dealing with banking challenges in Nolan’s story from earlier this month.
Hemp industry rallies to preserve hemp legal definition 🔊
Hemp industry advocates sent out a letter to federal lawmakers, urging support in blocking efforts to outright ban hemp with any measurable amount of THC. The House is considering a supplemental budget bill before the September 30 government shutdown, which could include an update to the 2018 Farm Bill that makes hemp legal as long as it contains less than 0.3% THC, despite the Senate removing such a provision from their own versions of appropriations amendments last month. A limited appropriations bill is being considered today, ahead of the shut down deadline.
LIT ALERTS’ INSIGHTS
New Jersey’s Top 10 cannabis brands
Despite regional and national brands flocking to the New Jersey market looking for growth, few have broken through the Top 10.
Our partners at Lit Alerts looked at estimated units sold over the last 90 days, and the cannabis brands backed by the largest vertically integrated multi-state operators are holding their positions in the Top 10, years after the New Jersey market launched.
Ascend Wellness' Ozone brand is the top brand in the state with a wide variety of products and taking full advantage of their first mover status in the state. GTI's Rythm brand that has been making headlines holds the #3 position while Terrascend's Kind Tree brand is holding in the top 5 with its #4 position. Other notables in the Top 10 includes Terrascend's Legend, Ayr Wellness' Kynd and Verano's (the) Essence.
Because of MSO’s strong presence in the state, the brands which are not backed by vertically integrated MSOs are that much more impressive in New Jersey.
New Jersey-based powerhouse Garden Greens and Pete's Farmstand are the only flower brands challenging the top spots in flower and pre-roll (currently ranked a respectable #2 and #5 respectively). Fernway and Grön have been the regional/national brands that have broken through in vapes and edibles, respectively.
Have a look at Lit Alerts’ exclusive insights. 👇
To learn more about Lit Alerts and get a special offer only available to Cultivated readers, visit litalerts.com.
🚀 Deals, launches, partnerships
High Tide to open three new Canna Cabana stores in Ontario and Alberta 🇨🇦
The company’s expansions in North York, Etobicoke, and Fort McMurray raise High Tide’s total Canna Cabana count to 210 across Canada, with 89 in Alberta and 88 in Ontario. More info.
MedX signs five new Lazydaze franchises and plans flagship Las Vegas store 💸
MedX Holdings signed five new Lazydaze franchise deals — including Houston, San Marcos, and a three-store Maryland agreement — while moving forward on its flagship Las Vegas location set to open in early 2026. The company says the expansion strengthens its national footprint and puts it on track to surpass its fiscal year 2025 revenue goal of $1.5 million.
Queens dispensary to use AI product recommendations 🤖
Trends dispensary based in Queens, NY, has announced Relief IQ, an AI powered technology that helps users select products by giving them questions and then recommending products based on synthesized cannabis research data.
📺 ICYMI
Jay chatted with Nicolas Guarino, the co-founder and CEO of Jaunty, a leading New York cannabis brand on Tuesday’s Cultivated Live.
The Cultivated team visited Jaunty's Hoosick Falls, New York facility in the summer of 2024, and over time have reconnected with the Jaunty team to talk about the evolving New York market.
Watch it:
🧳 People moves
Former MJBizDaily Magazine editor-in-chief Omar Sacirbey joined Benzinga as the publication’s startups and investing editor, he announced on LinkedIn.
🔬Science & research
CBD and colon cancer treatments ⚕️
Scientists in Thailand designed a new capsule-like system to deliver CBD more effectively to the gut. In lab tests, the method slowed the growth of colon cancer cells, suggesting CBD could have promise as part of future cancer treatments.
📅 Cannabis calendar
Black Cannabis Week supports innovation and restorative justice 🌿
Black Cannabis Week is hosting its 2025 event across six cities through September 28, culminating in Philadelphia, with programming that blends culture, advocacy, and innovation. The organization offers a media hub including press releases, brand assets, high-resolution images, and interview contacts to support coverage of its restorative justice, business incubation, and community-led sessions. More information.
😜 One fun thing
Spatchcock chicken… with a blunt. Instagram appears to be letting some more overt cannabis-related content slide in Canada (most Meta products strictly ban cannabis-related advertising in the US), as one of Jeremy’s favorite foodie accounts shows below. Looks delicious!
📰 What we’re reading
Federal Marijuana Rescheduling Effort Challenged in Congress | The National Law Review