Good morning.
Slack, WhatsApp, Signal, and Discord were abuzz yesterday with rumors about movement from the White House on rescheduling. We’re keeping our eyes, ears, phones, and keyboards on that, but for now, there’s other news.
Let’s get to it.
-JR, ZH and NM
This newsletter is 709 words or about a 6-minute read.
📣 Quotable
“We have an inescapable responsibility to generate and create a long-term and sustainable source of revenue to safeguard core programs and services,” Virginia Senate President Pro Tem Louis Lucas told Virginia Public Radio.
The legislature approved adult-use in Jan. 2021, but Republican Governor Glenn Youngkin, who took office days after, opposed the move. With his term ending this year, Democrats are once again working to implement legalization. Marijuana Moment has more.
⏩ Quick hits
Pennsylvania patiently awaits potential legalization 💰
A bipartisan Senate bill that would legalize adult-use cannabis in Pennsylvania is still wading through the state's legislative process, but Governor Josh Shapiro is hanging onto legalization's possible tax benefits amid his state's concerns for a budget shortfall. Shapiro recently said that legalization and taxing skill games were key options for balancing the state's coffers. Marijuana Moment has more on the state's ongoing budget discussions.
Anchorage punts on public consumption 🏈
The Anchorage Assembly decided to postpone a decision on a proposed public consumption ordinance that would have allowed dispensaries to provide space for consumers to use cannabis products. Alaska has rules that would allow for on-site consumption, but the city — which includes a third of the entire state's population — has yet to opt in.
Missouri citizens fight for improved cannabis regulations ✊
Individuals in Missouri are launching a campaign to file an initiative to get new cannabis and hemp regulations on the 2026 ballot. The movement is being led by a man named Eapen Thampy who argues that the two variants should be regulated as one substance because they’re “the same plant.” Thampy says the initiative was put in motion to regulate and protect cannabis and level the playing field in terms of who can produce and distribute it.
ICE involved in Texas cannabis bust 🧊
Police in Stafford, Texas raided an illicit cannabis grow site on Aug. 27 where they seized 1,200 pounds of cannabis. Authorities say the raid resulted in 18 individuals from Central America being detained by ICE for processing.
🚀 Deals, launches, partnerships
Agrify is now Rythm Inc. 🔊
Agrify, an Illinois-based MSO is officially rebranding as Rythm, after acquiring the already-established cannabis brand from Green Thumb Industries along with Dogwalkers and Beboe.
Greenway announces Q1 finances 📈
Greenway, an Ontario based cannabis company, announced first quarter finances on Wednesday including a net revenue of $1.62 million, gross profit of $842k, a net loss of just under $170k and a gross margin improvement of 50%. The strong financial results come following a recent supply agreement in the UK and continued expansion.
AI-power upselling from Sweed 📈
Sweed is bringing AI to customer displays in dispensaries. The New York-based company announced their new retail platforms that include co-shopping in real time, loyalty programs, and the ability to upsell.
🧳 People moves
The Cultivated team was happy to see Green Market Report founder Debra Borchardt’s byline in the newly revamped High Times Magazine. Kudos to both the High Times team and Borchardt. Her first piece: Wall Street Who? Cannabis Carves Its Own Path Without Big Finance
Canopy USA continues to build out its executive team. Eric Ruhle is the company's new VP of Brand Sales.
On Wednesday, Trulieve announced the Addition of Matthew Foulston to the Board of Directors and Jan Reese as Chief Financial Officer (CFO) beginning September 8th. Ryan Blust, the interim CFO will return to his position as VP of Finance.
🔬Science & research
New research partnership will look at cannabis and PTSD ❤️🩹
The Multidisciplinary Association for Psychedelic Studies will partner with Changemark Research + Evaluation for a study that will examine how inhaled cannabis could treat PTSD in veterans. The study will be funded by a $12.9 million grant from the Michigan Veteran Marijuana Research Grant Program.
📰 What we’re reading
Will Trump's interest in reclassifying marijuana push Indiana toward legalization? | The Indiana Lawyer
Please don't lie. Also, hemp | Cannabis Musings
Michigan Shuts Down Two Labs, Bans Owners | CRB Monitor News