Be in the Right Room.
The industry is entering the final month of the first quarter of 2025. No matter what month, what quarter and what year, the legalized cannabis industry with all of its brave, courageous and committed business owners, must continue to do what it always does: innovate, persevere, and plow forward.
Nothing has been easy for legalized cannabis businesses. With no real signs to fully de-schedule cannabis now or anytime soon, the hopes, planning, and expectations that rescheduling it to a Schedule III drug was going to happen have been put on hold, and for now we must continue dealing with Cannabis as a Schedule I drug. As we layer in the new administration and the cabinet appointees – the challenges and uncertainty in the cannabis industry keep mounting.
Despite these realities, the legalized cannabis industry has always taken care of business and has persevered for decades from coast-to-coast and has built a robust marketplace. According to the Pew Research Center, across the USA, 74% of residents have either adult-use and/or medical laws.
All of this requires that cultivators, processors, dispensary owners, and ancillary services serving the cannabis industry come together to build-out and strengthen the cannabis economic layer across a full range of business sectors.
How and where the marketplace gets built is important.
Being in the right room is crucial.
The CMB Expo & Conference is the right room.
Cannabis Means Business – Now in its 11th Year – Be There
Cannabis Means Business, formerly CWCBExpo – now in its 11th year– is a conference and expo that reflects the rapid growth of cannabis as a legitimate global industry. It is the place to be if you want to expand your business in the cannabis industry.
Cannabis Means BUsiness Conference & Expo
June 4 – 5
Javits Convention Center, NYC
National News
Most Americans Live in a State with Adult- or Recreational-Use Laws
Pew Research Center:
Rescheduling – Postponement and Uncertainty
The drama continues surrounding the DEA’s plan and subsequent postponement to hold hearings to reschedule cannabis from a Schedule I to a Schedule III drug. Uncertainty and lawsuits abound against the process, as well as motions to no longer participate as selected witnesses in the DEA hearings – whenever they will occur.
New York State Cannabis News
New York State Office of Cannabis Management, Cannabis Control Board, Cannabis Advisory Board |
February was a busy month at the OCM:
- The OCM launched a resource tool, “The Cannabis Banking Directory,” that is intended to help and streamline financial support for cannabis businesses. Several financial institutions are listed.
The link to the OCM Cannabis Banking Directory is here (scroll down the page to find it). - Also launched by the OCM was the Trade Practices Bureau (TPB) which is meant to be a resource to ensure NYS’s public interest goals are met as cannabis regulation evolves. Find out about TPB here.
- The CCB held a meeting on February 14, 2025.
Download the February 14 CCB meeting deck here.
Recent New York Adult-Use Dispensary Openings
Noteworthy is that 309 legal Adult-Use dispensaries are operational by February 27, 2025. Congratulations to these newly opened dispensaries in NYS.
Black River Supply Company
CARTHAGE | 15 Bridge Street, Carthage 13619
Website: blackriversupplyco.com
RNR Dispensary
BROOKLYN | 21 Gardner Ave, Brooklyn 11237
Website: rnrdispensary.com
Broadway Strains
MANHATTAN | 3858 Broadway, New York 10032
Cotton Mouth Dispensary
BINGHAMTON | 439 Court Street, Binghamton 13904
Website: cottonmouth-dispensary.com
Green Flower Wellness Oakland Gardens
OAKLAND GARDENS | 214-24 73rd Avenue, Oakland Gardens 11364
Website: greenflowerwellness.com
Green Flower Wellness Floral Park
QUEENS | 270-01 Hillside Avenue, Queens 11064
Website: greenflowerwellness.com
MANHATTAN | 701 8th Avenue, New York 10036
Website: elevationhqnyc.com
New Amsterdam NYC
MANHATTAN | 245 W 14th Street, New York 10011
Website: newamsterdam.nyc
Lucky Green Ladies
KINGSTON | 365 S Wall Street, Kingston 12401
Website: luckygreenladies.com/
The THC Shop
ROSEDALE | 144-07 243rd Street, Rosedale 11422
Website: ourthcshop.com
716 Cannabis*
*This is an existing dispensary that had to relocate to a new location.
HAMBURG | 5161 Camp Road, Hamburg 14075
Website: 716cannabisllc.com
New Jersey Cannabis News
Cannabis Tax Funding Anti-Violence Intervention Programs
In last month’s Newsletter we noted that NJ Governor Murphy and Attorney General Matt Platkin credited the NJ cannabis industry, through adult-use tax revenue, for helping to fund anti-violence and violence intervention programs. Governor Murphy now wants to increase the social equity excise tax on cannabis so that even more money can be allocated toward social service and violence prevention and intervention programs.
While the tax increase that he seeks in his budget is large, from $2.50 per ounce climbing to $15 per ounce, Governor Murphy said at a recent budget address on February 25, 2025:
New Testing Guidelines
This month, new testing guidelines have been issued by the NJ-CRC that are meant to improve product safety and standardize testing methods for cannabis businesses. The new testing guidelines have compliance dates for testing labs to meet.
Testing changes that address batch size sampling have to be implemented by testing labs by Wednesday March 19, 2025. Any revised guidelines to stability testing have to be implemented by labs by midnight Friday, May 23, 2025.
Arkansas Cannabis News
Cannabis Revenue is Doing Good: Free Breakfast for School Children
Governor Sara Huckabee signed a bill that uses the tax revenue from medical cannabis sales to fund free breakfast for school children.
Colorado Cannabis News
City Council Fails to Overturn Voter-Approved Adult Use Measure
Last month we noted an attempt by the Colorado Springs City Council to overturn the 54% voter-approved ballot measure that was to allow adult-use within the city’s limits. A district judge ruled in favor of the voter-approved ballot, and no further appeals will be heard by the Supreme Court.
Illinois Cannabis News
Illinois Exceeds $2 Billion in 2024 Cannabis Sales
Congratulations to Illinois and Governor Pritzker, who celebrate that the state exceeded $2B in marijuana sales in 2024.
Michigan Cannabis News
Tax Revenue Doing Good
Cannabis tax revenue is also doing good also in Michigan as that state will be distributing $100 million to over 300 local entities and tribes throughout the state.
International News
Germany and European Legalization
In a previous newsletter, we highlighted Germany as one of the trailblazers in Europe to legalize cannabis use. (We also highlighted Malta and Luxembourg in other newsletters.) Where is all of this at now? What did their trailblazing mean for other countries in the European Union?
This Month’s Archived Video
Where is Wall Street: Now You’re Funded, Now You’re Not
This month, we share what is a very timely and important conference session that we presented in June at our 2024 CWCBExpo event.
In this session, we feature a discussion with financial home offices, banks, fund managers and investors who discuss the funding crunch for cannabis businesses, investing in cannabis, and what attracts the prospects of M&A for a business.
Moderator: Gia Morón, Founder and CEO, GVM Communications
Speakers: Sara Gullickson, Founder, CEO, The Cannabis Business Advisors; Matthew (Matt) Karnes, Founder, GreenWave Advisors; Brett Finkelstein, Managing Partner, XIVIX Partners LP
This session was recorded at CWCBExpo, Javits Convention Center, NYC, on June 5, 2024.
