Beverages, RICO & Market Chaos—What Just Happened in Cannabis?

Plus, these cannabis markets are thriving.

April 03, 2025

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🎤 Filling in for Maureen today, it’s Javier Hasse—your friendly neighborhood cannabis journalist, book author, and strategic advisor at Benzinga Cannabis.

Buckle up, amigos y amigas. We’ve got SCOTUS making RICO waves, Organigram chugging into the U.S. beverage market, and D.C.'s medical scene transforming overnight. Plus, New York may finally be hitting its adult-use stride (yes, really), and I’ve got a few exclusive interviews you won’t want to miss.

Let’s roll. 🌿👇

💼 Business & Investments

Canada’s cannabis beverage scene just got fizzier. Organigram (NASDAQ: OGI) snapped up 100% of Collective Project Limited for an upfront C$6.2M, with potential earnouts bringing the total to a cool C$24M. 👀

Why it matters:
This deal marks Organigram’s first real splash into the U.S. hemp-derived THC beverage market—and gives it immediate cred with a brand that’s already on shelves at Total Wines, Top Ten Liquors & more.

🧃 The drink menu?
Think Blood Orange Vanilla Yuzu, Blueberry Elderberry White Tea & other flavors that actually sound like cocktails you'd order unironically.

🧑‍🎨 The twist?
Each can features artist-designed labels (thanks to Collective Arts), and the brand’s already beloved in both craft beer and THC circles.

🌍 What this means:

Organigram is eyeing mass retail across North America—and, with its FAST nano-emulsion tech in the mix, don’t be surprised if it bubbles up into a top player fast.

📝 CEO Beena Goldenberg calls it “a strategic milestone.” We call it a power move.

📉 Read my latest here → Three Cannabis Companies Just Defaulted

Gold Flora. 4Front. TILT. All defaulted on their Innovative Industrial Properties leases. Now, names like Cannabist, Ascend, and AYR are under the spotlight.

🔍 Using Viridian’s liabilities-to-market cap ratio, we break down who’s most at risk—and who’s buying time.

If you’re an investor, this one’s for you. If you’re an operator… maybe skip that second coffee. ☕😬

Reported by Ben Adlin via Marijuana Moment

In a 5-4 decision, SCOTUS sided with a trucker who says he lost his job after using a “0% THC” CBD product that triggered a THC-positive drug test.

💥 Translation?
The man can now go after the CBD brand under RICO—yup, that RICO—for false advertising and damages. If successful, he could get triple damages.

🚛 The ruling is less about weed laws and more about the stretch of civil RICO claims—but it could shake up liability standards in the CBD space, big time.

🧠 Hot quote:
“Medical Marijuana is left fighting the most natural interpretation of the text—that ‘injured’ means ‘harmed’—with no plausible alternative in hand,” wrote Justice Amy Coney Barrett.

💼 Remanded to lower court for now, but expect ripple effects across the CBD market.

Washington D.C. has officially welcomed 41 unlicensed gifting shops into the medical cannabis fold as of April 1—up from just 15 the week before.

📈 That’s a 170% jump in legit storefronts, with enforcement beginning immediately against those who didn’t make the deadline.

🏛️ Of the ~200 gifting shops operating before ABCA’s transition program, only about 20% made the leap.

📉 That leaves over 150 potentially facing crackdowns.

Why it matters:
This is one of the biggest conversion waves we've seen—proof that regulatory carrots (and sticks) can work, even in messy markets.

Via MJBizDaily’s Chris Roberts

Felicia Reid, acting head of New York’s OCM, says the Empire State’s cannabis market might hit $1.5B in legal sales this year—up from $1B in 2024.

🛍️ 343 licensed dispensaries are now open (up from 260 in December).
🚪 A crackdown on unlicensed operators is working (mostly).
📊 A new Trade Practices Bureau is investigating shady licensed behavior.
🌱 Cultivation permits are being slowed to avoid oversupply chaos seen in other states.

📣 Reid’s tone? Cautiously optimistic. She says the state’s equity-first approach is finally showing results—despite a rocky rollout.

🗳️ Industry & Culture

Deadline: May 1 → Nominate someone here

We’re honoring the late, great Bob Fireman again at this year’s Benzinga Cannabis Capital Conference (June 8–10 in Chicago).

Do you know a leader who’s building something amazing, leading with integrity and making cannabis a force for good? Nominate them.

Past winner: Loriel Alegrete of 40 Tons

Next winner: That’s up to you.

📚 Three new ones I think you’ll love

🐶 Doug the Pug gets his own CBD brand – His family built Nonipup to help sick pups like him. 🐾

🍷 ‘Mommy wine culture’ meets weed – Meet Rosie Mattio, PR powerhouse changing the cannabis image, one Vogue article at a time.

🏀 Gary Payton on how cannabis helped his mom – A deeply personal look into his new brand and mission: Greater Purpose.

That’s it for today, fam. Thanks for reading and letting me fill in. Catch you next time—with more news, insight, and a few too many emojis.

✌️

—Javier Hasse

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