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From the Supreme Court to Psychedelics & Ice-T's Weed Empire
Plus, we're looking for nominations.
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Hey Benzinga Cannabis community! It’s Maureen Meehan here to welcome you to Cannabis Daily, your go-to round-up of the hottest headlines lighting up the industry.
Today we’ve got a full spread: A SCOTUS curveball on federal marijuana protections, Georgia making moves on its hemp and medical cannabis laws and a Berlin conference on deck for April 2025.
We’ve also got the iconic Ice-T joining the dispensary game (with a familiar face!), hemp morphing into graphene (yes, graphene), and psychedelics entering mainstream Veterans care policy. Oh, and ICYMI, Rubicon and Innocan are killing it financially.
So pour a cup of whatever you’re having today, and let’s get into it. 🌱
In today's issue:
⚖️ Politics & Policy
No relief from the top court this week for Lucas Sirois, a Maine man facing federal charges despite state-legal cannabis operations. The U.S. Supreme Court declined to review whether federal spending provisions—specifically the Rohrabacher-Farr amendment—should shield state-compliant medical marijuana operators from prosecution.
The amendment has been included in federal spending bills since 2014 and bars the DOJ from using funds to interfere with state medical cannabis programs. But the Court’s move leaves murky waters as to how far that protection really extends—especially for operators accused of violating state laws alongside federal ones.
After years of stagnation, Georgia’s legislature is finally putting cannabis policy front and center. The Senate passed three bills before the state’s legislative “crossover day” that could significantly shift access and regulation.
SB 254 and SB 33 aim to limit access to hemp-derived THC products (so long, Delta-8?).
SB 220 would expand Georgia’s Low THC Oil Registry, easing access for medical cannabis patients with qualifying conditions.
This marks a real turning point in Georgia’s evolving cannabis narrative—watch this space.
VA Secretary Doug Collins says he's had a mind-shifting convo with Robert F. Kennedy Jr. about psychedelics—and he’s planning to take that energy to Capitol Hill.
In an interview on The Shawn Ryan Show, Collins said he’s open to the government covering psychedelic therapy costs for veterans. Citing ongoing VA trials on psychedelics for PTSD and TBI, he added, “It’s working. We’re seeing tremendous change.” That’s a powerful endorsement that could shake things up in Congress. 🍄
📈 Earnings & Markets
Rubicon Organics (TSE: ROMJ) is on a roll. The company reported $48.7 million in 2024 net revenue—a 21% increase—and boosted Q4 revenue by 42%. That’s not all: Rubicon secured $10 million in credit and increased its premium flower capacity by 40%.
The kicker? They’ve gone international, completing their first global shipment with new certification in hand. Supply shortages in Canada and new international demand? Rubicon looks ready to ride both waves. 🌊
Innocan Pharma Corp. (CSE: INNO) (OTC: INNPF) posted serious gains for 2024, with revenue soaring to $29.4 million, more than double from the prior year.
The company also slashed its operating loss from $3.8M in 2023 to just $1.2M in 2024—a 67% reduction—and saw gross profit climb 118.6% year-over-year. Not bad for a company steadily expanding its pharma-cannabis reach.
🌍 Events & Industry Recognition
Nominations are open for Benzinga’s Bob Fireman Award for Entrepreneurship, set to be presented at the Cannabis Capital Conference in Chicago (June 8–10).
This award honors the late Robert “Bob” Fireman, co-founder of MariMed, whose legacy includes a deep commitment to community, integrity, and cannabis as medicine. Submit your nominee by May 1st—you can do that here. 💚
ICBC Berlin is back—and it's bigger than ever. Set for April 29–30, 2025 at the Estrel Berlin Hotel, this is Europe’s premier cannabis B2B event.
Over 5,000 professionals from 80+ countries will converge to network, learn, and shape Germany’s fast-evolving cannabis landscape. If you’re looking to go global, this is the stage.
💡 Innovation & Culture
Hemp is officially having a moment. Beyond bioplastics and construction materials, hemp is now being turned into graphene, a futuristic material that could change the game for energy storage.
With the global hempcrete market already valued at $26B and rising, hemp’s tech potential is only expanding. This might just be the green revolution’s next frontier. ⚡️
Say hello to The Medicine Woman—Jersey City’s latest dispensary with a star-powered twist. Ice-T, legendary rapper and Newark native, teamed up with former Playboy model Charis Burrett to open the shop, which is prepping for its grand opening on April 19.
“We believe that cannabis should be available to everybody that needs it,” Burrett said. “It’s a beautiful medicine... and we love being able to educate people and communities.” Catch the vibe at the launch or on Ice-T’s Instagram.
That’s a wrap from me. Catch you tomorrow for more market moves, policy shifts and culture buzz. 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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