Cloudy With A Chance Of Earnings, Wiz Khalifa & George Clinton Weed Drop In Vegas

Plus, the latest in cannabis news.

April 29, 2025

Hey Benzinga Cannabis family, Maureen Meehan here, and you know what time it is — time to roll through the biggest cannabis news making waves today. We've got a heavy earnings forecast rolling in, some major political tension, a little funk in Vegas, and a whole lot of action brewing from Canada to Texas.

Let’s dive right into it — no puff, just the important stuff!

📈 Market Moves & Earnings Outlook

The earnings season forecast? Kinda gloomy, folks. Analysts expect eleven out of twelve cannabis companies to post lower year-over-year EBITDA for Q1. Only Marimed (OTC: MRMD) and Glass House (OTC: GLASF) are flashing green, with Glass House flipping its EBITDA from negative to positive (nice comeback story!).

Overall, analysts project a 15.2% group EBITDA decline — way steeper than the 5% drop from Q4. Companies like Ascend Wellness (OTCQX: AAWH), Cresco Labs (OTCQX: CRLBF), Curaleaf (OTCQX: CURLF), and Green Thumb Industries (OTCQX: GTBIF) are looking at even bigger dips compared to last quarter. Buckle up, it's earnings season!

🏛️ Political Buzz

Ed Martin, the interim U.S. Attorney for D.C., isn’t loving local cannabis shops. In a new interview, he said his “instinct is that it shouldn’t be in the community," when asked about licensed dispensaries operating under state law but against federal law. He already sent a warning letter to a D.C. dispensary called Green Theory, citing possible federal enforcement.

The U.S. Supreme Court just gave the feds until June 5 to decide if they want to challenge a February ruling allowing cannabis users to own firearms. Justice Brett Kavanaugh signed off on the extension. Stay tuned — big implications here for cannabis rights and Second Amendment debates!

Following Mark Carney's election win, the Cannabis Council of Canada isn’t wasting time. The council’s president Paul McCarthy, called out Ottawa: “The federal government has failed this industry and the tens of thousands of hardworking Canadians it supports.” With over $43 billion contributed to GDP since legalization, the Council wants major reforms — and fast.

It’s a "cannabis civil war" in Texas! New bills aim to make medical marijuana more accessible while cracking down on hemp-derived THC products. If Senate Bill 1505 passes, expect more medical dispensaries and vaping options. But House Bill 46 goes even further — upping THC limits and expanding licensing across underserved regions.

Former Trump pick Matt Gaetz says cannabis could be legalized federally if Democrats “dropped” demands for social equity and reparations. He claims a "winning coalition" already exists between libertarian Republicans and pro-legalization Democrats — but politics, as usual, is muddying the waters.

Old habits die hard — a new CDC study found that 80% of American cannabis users prefer smoking (joints, pipes, bongs — you name it) over any other method. Edibles and oils were a distant second. Despite the rise of dabbing, vapes, and fancy tech, combustion still reigns supreme in the U.S.

Ohio’s weed prices have mellowed since recreational sales kicked off last August, but they’re still way pricier than Michigan’s — by about 300%! Experts say supply and regulation differences are the big factors. Heads-up: proposed state budget tweaks could bump prices back up, so shop smart, Ohioans.

🛍️ Business Beat

Michigan Cannabis Industry Association says the state’s wide-open licensing is crushing prices and flooding the market. Executive Director Robin Schneider didn’t mince words: “You really have to start to look at: If we can’t get this under control, why are we continuing to issue more licenses?” Translation: It’s time to hit the brakes before the market totally bottoms out.

🎶 Music Beat

Get ready to party: George Clinton, the godfather of funk, is teaming up with Wiz Khalifa to launch THE FUNK, a new line of infused cannabis pre-rolls debuting this week at Planet 13 (OTC: PLNH) Las Vegas, one of the world’s largest dispensaries. Don’t miss it. Tickets Here

🌱 Alright, that’s a wrap for today. Thanks for riding along with me. I’ll catch you tomorrow with another buzzed but always fact-checked roundup.

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