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“Bleed for Weed” Underway In Illinois, Cannabis Contaminants, Musk And Ted Cruz Joke About Pot
Plus, weed for blood
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Hey there, Benzinga Cannabis community. Maureen Meehan here, coming at you live(ish) from the frontlines of the cannabis world, and let me tell you, today’s roundup is full of zingers, breakthroughs and more than a few head-turners. 🗞️
From a blood drive that trades pints for pot to Elon Musk and Sen. Ted Cruz lighting up their podcast circuit with some clever cannabis chatter, a whole lot is happening across politics, science and the markets. And if you’re still on the fence about licensed weed products being clean — well, 73% of folks say they’re in the trust tree. 🌳
Let’s break it down.
In today's issue:
🔬 Public Health & Safety
According to a fresh poll from NuggMD, 73% of cannabis consumers in legal states trust that licensed products are free of pesticides, mold, or other nasties. That’s “high” or “moderate” trust — and in this space, that’s saying something.
But not everyone’s sold: 18% report “low” trust and 9% say they have zero faith in the safety of their legal green. Andrew Graham from NuggMD wasn’t sugarcoating it either: “There is mounting evidence that suggests the regulated markets don’t uniformly provide product that’s clean, safe, and free of contaminants...a situation that would not be tolerated in any other consumer market.”
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) is taking on powdery mildew with a newly discovered genetic resistance marker — PM2. The Canadian-based company is rolling out mildew-resistant cultivars as part of its breeding program, and yes, commercial launches are on the 2025 horizon.
The root of the problem? “Federal prohibition,” says NuggMD’s Andrew Graham. “The White House can’t legalize cannabis via executive order, but it can order the relevant administrative agencies to develop and issue uniform federal guidance...”
Yes, you read that right. If you're near Freeport, Illinois on March 22, the “Bleed for Weed” campaign is offering donors a voucher for an eighth or an edible from Lyfe Dispensary.
Don’t want the goods? There’s a T-shirt in it for you. Either way, Rock River Valley Blood Center and Lyfe are teaming up to beat the blood shortage and bust the cannabis stigma. Win-win.
🏛️ Politics & Policy
Doctors for Drug Policy Reform (D4DPR) just dropped a bold position paper urging state-level decriminalization of psychedelics for personal use and possession.
They’re not mincing words: “Criminalizing the personal use and possession of psychedelics is a costly misuse of resources.” Instead, they advocate for a framework that supports public health, racial equity and effective drug reform.
🎙️🔥 Elon Musk, Ted Cruz Joke About Cannabis On Podcast: Should I 'Pull Out A Joint' To Boost Ratings?
This week on “Verdict with Ted Cruz,” Elon Musk and Sen. Cruz joked about lighting up during the podcast to boost viewership. “Should I show up and pull out a joint?” Cruz asked a producer. Musk, who once famously smoked weed on the Joe Rogan podcast, kept the mood light. That said, Musk now supports mandatory drug testing for federal employees as part of his DOGE (Department of Government Efficiency) efforts, which could help reduce the federal workforce.
💰 Business & Markets
Trump-era tariffs might have an unexpectedly green outcome. Derek Chase, CEO of FLORA+BAST, told Benzinga that the extra tax layer could steer businesses toward local, eco-conscious solutions.
“Having more domestic options is a positive consequence… our USA-made goods [are] more price competitive,” he said.
BC Bud Corp. (CSE: BCBC) (OTCQB: BCBCF) has ditched cannabis for crypto. The company is now called Digital Commodities Capital Corp., and it’s changing its ticker to “RIPP” on March 24.
Yes, that’s the sound of another player taking their buds and bouncing from the game.
Agrify Corporation (NASDAQ: AGFY) just dropped its full-year and Q4 2024 earnings report:
Q4 revenue: $2.3M
Full-year revenue: $9.7M (down from $15.1M in 2023)
FY loss: $10.2M operating / $13.4M total loss including discontinued operations
Cash on hand: $31.2M
Interim CEO Ben Kovler said Agrify is “streamlining the business” and getting ready for growth. The market? Still tough, but they're not folding.
The price of recreational marijuana flower in Michigan dropped to $65.21 per ounce — its lowest on record. But businesses say it’s not just about the falling numbers.
At a Cannabis Regulatory Agency meeting, operators pointed to unfair fines, illicit market competition, and undisclosed additives as threats to survival. They’re calling for tougher enforcement and more regulatory reform to even the playing field.
Hemp-derived THC products had a seven-year glow-up thanks to the 2018 Farm Bill, but that party might be winding down. A dozen or so states are considering blanket bans or heavy restrictions, and operators are worried.
“This is coming from all directions,” said Jonathan Miller, general counsel at the U.S. Hemp Roundtable. “There are a number of states that are looking at completely banning retail sales of our products.”
The alcohol industry may have its fingerprints on this one as younger consumers continue shifting away from booze toward hemp-based alternatives.
That’s a wrap for today’s Cannabis Daily, folks. Whether it’s moldy weed, Musk musings, or Michigan’s price plunge, it’s clear this industry never sleeps — and neither should your policy updates.
Until Monday, I hope everyone has a fabulous weekend…Spring is upon us! 🌿
👉 Got thoughts? Tips? Wild stories from your dispensary visits?
Hit reply or send a note to [email protected] — we love hearing from you!
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