Cannabis Tax Chaos, THC Drinks Boom & Psilocybin Progress

Plus, news from across the pond.

April 07, 2025

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Hey there, Benzinga Cannabis community! Maureen Meehan here — coming to you with your daily hit of cannabis news, industry twists and policy shifts (or lack thereof).

Today’s lineup includes unpacking IRS confusion on 280E tax strategies, new moves in the hemp THC drink market (yep, more big brands are jumping in), and a fresh wave of policy action from North Carolina to the Netherlands. Plus, we've got fascinating research on cannabis and recovery, medical use transparency in Michigan and psilocybin decriminalization making moves in Connecticut.

So grab your favorite beverage and let’s look at what’s going down.

💼 Industry + Business

Tax season got you sweating? You’re not alone. The infamous 280E tax code — you know, the one that prevents cannabis businesses from deducting regular business expenses — is as painful as ever. Now, with the maybe-it’s-happening, maybe-it’s-not rescheduling dance, tax pros are getting… creative.

Cannabis accountants and attorneys are crafting bespoke workarounds to relieve clients of that financial chokehold. But with the IRS staying tight-lipped, there’s no universal playbook. For now, everyone’s just trying to avoid an audit while pushing the limits of what’s legal.

Call it the stoner seltzer surge. Organigram Global (NASDAQ: OGI) just dropped millions to scoop up Collective Project, diving deep into delta-9 beverages. Meanwhile, Curaleaf Holdings (OTC: CURLF) founder Boris Jordan launched a caffeine-THC energy drink — 10mg of hemp THC + 50mg of caffeine = a pretty wild combo.

Even non-canna giants are circling: DoorDash (NASDAQ: DASH) is testing delivery waters and Edible Arrangements (yes, the fruit bouquet folks) are sniffing around the space. The twist? Restrictions in some states are actually pulling big players in, betting that brand trust and smart compliance will win the long game.

🧑‍⚖️ Politics + Policy

North Carolina’s inching toward medical marijuana, but the Senate’s playing it cool. Senate president Phil Berger (R) said they’re waiting to “see what comes out of the House” before acting.

There are two bills in the pipeline: S350 (Senate) would greenlight both medical and adult-use cannabis, while H413 (House) keeps it recreational only. For now, it’s hurry up and wait.

Texans aren’t waiting on the state anymore — they’re doing it themselves. Activist group Ground Game Texas is aiming for a 2025 ballot initiative to decriminalize cannabis in Kyle, one of the fastest-growing cities in the Lone Star State.

“This isn’t just about one policy—it’s about people taking power into their own hands,” the group declared. The grassroots push continues.

Connecticut’s Joint Judiciary Committee just gave the green light to a psilocybin decriminalization bill. ✅ Passed 29-12, the proposal would reduce possession of up to half an ounce of psilocybin to a $150 fine — no jail time.

Even with Governor Ned Lamont expressing doubts, lawmakers are pushing forward with a public health lens. Let’s see where it lands.

Across the pond, the Dutch are taking another big step toward full cannabis legitimacy. 🇳🇱 The government has expanded its cannabis trial program, now allowing 10 licensed growers to legally supply 80 coffeeshops across 10 municipalities.

Rick Bakker, commercial director at Hollandse Hoogtes, put it perfectly:

“Weed was sold here legally for 50 years, but the production was never legal. So it’s finally time to end that crazy, unexplainable situation and make it a legal professional sector.”

🌱 Culture + Health

🌿 Medical Cannabis May Help Reduce Cravings And Improve Recovery Outcomes

New pilot research out of UBC Okanagan and Thompson Rivers University is turning heads. Researchers found that in residential recovery programs, medical cannabis helped reduce cravings and improved outcomes — including better sleep, pain management, and mental health.

Study co-lead Dr. Zach Walsh shared: “Participants clearly indicated benefits in managing both physical and psychological challenges during recovery.”

It’s small-scale, but the implications for opioid addiction treatment are real.

🩺 Michigan Anesthesiologists Want To Know If You Use These Substances Before Surgery

Here’s a PSA from Michigan’s medical pros: If you use cannabis or psychedelics, tell your doctor before surgery. The Michigan Society of Anesthesiologists is flagging serious risks — cannabis can affect sedation, cause lung or heart complications and even alter your pain response.

Dr. Matt Dellaquila, president-elect of the organization, puts it bluntly: “It's very, very, very important to have that full history before taking a patient into the operating room.”

🌲 Local California News

🌄 In A First, Humboldt County Permits Five Cannabis Farms In One Fell Swoop

In a Humboldt milestone, the Planning Commission approved five cannabis farm projects in a single meeting. 🌱 Senior Planner Steven Santos called it a “record.”

Together, the farms span over three acres, use rainwater catchment systems, and rely on PG&E power for most sites — making for smooth permitting with minimal hiccups.

The message? Standard doesn’t mean small. Humboldt’s getting efficient.

Thanks for rolling with me through Monday’s Cannabis Daily. Stay tuned and stay informed — we’ve got our ears to the ground and eyes on every policy shift, product launch and research breakthrough.

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