TGIF, Cannabin-vestors! 13 years in prison for smoking while rapping? Say what you will about the current state of cannabis, but in a short time, we’ve come a long way.

In our exclusive interview with hip-hop producer and 2Pac collaborator Weldon Angelos, he breaks down how a decade-plus stint for a nonviolent drug charge led to cannabis activism, legislative reform, and dozens of presidential pardons.

End your week on an uplifting note and give it a read. (Anything that ends with Lil Wayne free has a happy ending by default.)

Plus, Ohio’s two-faced medical market, Wisconsin legalization’s latest hurdle, High Tide raises all ships and more.

And, check out the inaugural episode of the Benzinga Psychedelics Podcast, exploring new therapy frontiers! As always, the latest episode of Cannabis Insider is also available on Apple and Spotify.*

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TOP STORY

Ohio Cannabis Market: Record-Breaking Numbers or Stagnating Growth?

Briefly: Ohio’s medical marijuana market is looking a little two-faced.

What Happened: Ohio medical cannabis sales hit a new record last year, with $484.4 million worth of products sold in 2023.

But Wait: The market’s growth trajectory over the past few years tells a different story. In 2021, 2022, and 2023, year-over-year revenue increases were 72%, 26% and just 1%, respectively.

On One Hand: A slowdown in growth trends could simply be attributed to the market’s maturation.

On The Other: There are red flags. "One percent growth in a five-year-old medical market is a major concern," said the Ohio Cannabis Coalition’s Andy Rayburn.

So What? Ohio recreational marijuana sales will kick off this year. That could take another bite out of medical cannabis sales, but a potential surge in customers could more than make up for it.

What Next: Operators sure seem to think it will. Green Thumb (GTBIF), Curaleaf (CURLF) and Cresco Labs (CRLBF) are wasting no time positioning themselves for the new opportunity. Read more here. 

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FIVE ZINGERS

Raising All Ships: High Tide (HITI) broke down its strategies, expansion plans and the potential domino effect of rescheduling in our exclusive interview.

Open Mind, Open Wallet: E.U. allocates €6.5M to study psychedelic treatments for pulmonary disease, multiple sclerosis, ALS and Parkinson's.

Only Seems Fair: Sen. Cory Booker (D-NJ) moved to protect weed rights in federally funded housing, as “no one should face eviction [...] for legally using marijuana.”

Instant Analysis: No need to doomscroll through LinkedIn any longer. Here are the 11 international cannabis executives to watch in 2024.

The Wait Is Over: Staten Island's first direct-to-consumer cannabis dispensary, Flowery, is now open.

ONE FOR THE ROAD

'No Appetite' For Medical Marijuana Bill In Wisconsin Senate

Briefly: At least, not according to Republican State Senator Mary Felzkowski, there isn’t.

So Basically: Sen. Felzkowski is known for her efforts on medical marijuana reform. But even she says there's “no appetite” in the Wisconsin Senate to advance a recently introduced cannabis bill.

Back Up: The legislation in question would limit access to non-smokable forms for severe illnesses. The Badger State remains the only one in its area still enforcing prohibition.

So What? Lawmakers aren’t disinterested in legalization but rather displeased with the bill. Felzkowski thinks about 80% of it is great, but maintains most of her colleagues don't support creating state-run dispensaries instead of private entities. State Democrats slammed the bill as “overly restrictive” as well.

What Next: If the bill doesn’t pass this season, Felzkowski says, “We will have something ready for next time.” They do know weed makes you hungry right? Just saying, if it’s a question of appetite, there’s an obvious solution.

KEEP READING

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