Smoke Signals From Chicago: Where Weed Meets Wall Street, Tobacco & Tech

In today's issue:

• 🌿 Meanwhile, from the rest of the cannabis world

• 📊 Markets & Money

• 📺 Culture & Crime

🎙️ ‘We’ll Take Any Movement’: Cresco CEO Talks Holding Trump Admin Accountable

At the Benzinga Cannabis Capital Conference, Cresco Labs (OTC: CRLBF) CEO Charlie Bachtell didn’t mince words about the cannabis industry’s expectations for President Trump’s second term. While cannabis didn’t make the first 100 days priority list, Bachtell called rescheduling “the first domino” — adding, “We’ll take any movement at a federal level.” He emphasized that the industry will be holding Trump to his campaign promises around reform.

💨 Tobacco Giants Tap Cannabis For Growth

At the heart of the Benzinga Cannabis Capital Conference, one conversation dominated: Big Tobacco is eyeing Big Green. Heavyweights like British American Tobacco (NYSE: BTI) and Philip Morris International (NYSE: PM) are making moves — from strategic stakes in Organigram Global (NASDAQ: OGI) to international partnerships in Germany’s Sanity Group.

Organigram CEO Beena Goldenberg revealed, “More investments to come.”

Meanwhile, analysts said these aren’t random buys — they’re tactical, future-focused plays.

🔗 Cannabis Gets Transparent With Blockchain Beta

Genuine Marketing Group (OTC: GMGZ) dropped this news as the Benzinga Cannabis Capital Conference opened Monday morning. The beta for ZPTAG, a blockchain platform that tracks cannabis products from seed to sale. Partnering with Ignite Dispensary in Wisconsin, they’re tagging nine SKUs (from gummies to snack mixes) with IDs that give real-time updates on lab results, logistics, and certifications.

It's not just techy — it’s regulatory gold, boosting consumer trust and ensuring compliance.

🚨 USDA Warns Retailers: No SNAP For Weed Or CBD

The feds have made it crystal clear — accepting SNAP benefits for cannabis or CBD? Big no-no. The USDA issued a stern reminder to over 250,000 retailers, warning of “criminal prosecution” for violations. The agency says it’s ramping up enforcement to root out fraud and protect taxpayer dollars.

🧃 Alcohol Industry Group Fights Hemp Ban Overreach

The Wine & Spirits Wholesalers of America is raising its glass (politely) in protest. While they’re on board with banning synthetic cannabinoids like delta-8 THC, they’re urging Congress not to toss out the baby with the hemp water. The group supports maintaining legalization of naturally derived cannabinoids and wants Congress to revise the hemp language in a pending spending bill.

📈 Village Farms Regains NASDAQ Compliance

Village Farms International (NASDAQ: VFF) is back in the game. The company got the green light from Nasdaq after meeting the minimum $1.00 per share bid price requirement. Hedge funds have been sniffing around too — Two Sigma Advisers LP boosted their stake by a whopping 625% in Q4.

💵 California Cannabis Tax Haul Hits $237M In Q1

The Golden State raked in $237.4 million in Q1 2025 cannabis tax revenue — and that’s just through March. It includes $140.6M from excise tax and $96.8M from sales tax. Since legalization in 2018, California has stacked up more than $7 billion in weed tax revenue.

✈️ Wally Thrasher’s Drug Plane Crash Heads To The Small Screen

This one’s straight out of a Hollywood script. In 1984, a plane carrying 570 pounds of marijuana crashed into Fancy Gap Mountain in Virginia. The pilot died, the co-pilot vanished with $250K, and Wallace "Wally" Thrasher, the alleged smuggler, disappeared. Now, a new docuseries based on the book Chasing the Squirrel is bringing the story — and its lingering mysteries — to life.

Was Wally hiding in Belize? Working with the CIA? Or just gone? The series promises answers... and more questions.

Until tomorrow, Cannabis Family. Keep it lit (legally), stay curious, and if you’re in Chicago — come say hello to the team at the Benzinga Cannabis Capital Conference!

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