Hey there, Benzinga Cannabis family! It’s Maureen Meehan here, your friendly neighborhood cannabis correspondent, bringing you the latest from the world of weed—where the politics are spicy, the markets are moody and the events are lighting up (pun intended). Today’s edition is packed with MSO earnings reality checks, political potshots aimed at Biden and Canada, a 4/20 bash worth RSVPing for, and yes—New Hampshire just took a giant step into psychedelic territory.

Let’s dig in.

In today's issue:

• 💸 Markets: MSOs Feeling the Pressure

• 🗳️ Politics: PAC Attacks, Veto Drama & Billboard …

• 🌱 Legalization & Regulation: Green Shoots & Setba …

• 🚚 Testing & Transportation

• 🎉 Events: Get Ready for the SF Space Walk 🌁🔥

📊 Cannabis Financial Reports Showed Challenges Again

Alan Brochstein dropped an exclusive, and he’s saying it’s a rough ride for the top U.S. cannabis operators. The five biggest multi-state operators (MSOs) just reported earnings, and let’s just say, the numbers didn’t exactly impress Wall Street.

Curaleaf (OTC: CURLF) (TSX: CURA) is still leading the pack in revenue, but it’s a stagnant crown—flat sequentially and down year-over-year. Meanwhile, Trulieve (OTC: TCNNF) (CSE: TRUL) leapfrogged past Green Thumb Industries (OTC: GTBIF) (CSE: GTII) with 6% sequential and 5% year-over-year growth.

GTI beat expectations but only notched a 3% sequential bump. Not exactly champagne-worthy numbers.

Verano Holdings (OTC: VRNOF) (NEO: VRNO) and Cresco Labs (OTC: CRLBF) (CSE: CL) both reported declining revenue compared to last year. And it doesn’t stop there—the next four MSOs in line? All saw year-over-year drops too.

One silver (green?) lining: Jazz Pharmaceuticals (NASDAQ: JAZZ), which owns GW Pharma, reported a 14% bump in revenue for its cannabis-based products. Hey, someone’s got to be winning.

Cannabis Industry PAC Attacks Biden & Canada In Ads Designed To Appeal To Trump

🇺🇸 Politics got even weirder (yes, it’s possible). The American Rights and Reform PAC—a group backed by the cannabis industry—launched a pair of ads bashing both President Biden and… Canada. Yep, our polite northern neighbor is in the crosshairs now, too.

The group’s goal? Convince pro-Trump voters that The Donald is the one to trust on cannabis reform. The PAC, formerly known as Legalize America, even lists a Curaleaf exec as its treasurer. The message? U.S. cannabis is losing to Canada because of “prohibitionist” policies. The ads come loaded with some questionable claims, so keep your fact-checker handy.

❌ Virginia Governor Vetoes Marijuana Bills, Including Legalizing Sales

In Virginia, Governor Glenn Youngkin (R) is once again putting the brakes on progress. He vetoed bills that would’ve finally launched legal adult-use cannabis sales—something the state has technically legalized possession for since 2021. It’s déjà vu: this is his second year in a row nixing cannabis sales.

With Youngkin on his way out, advocates are pinning their hopes on November’s election. Maybe the third time’s the charm?

🚫🪧 Hoosier Lawmakers Want To Ban Marijuana Billboards

Indiana lawmakers are taking issue not with cannabis itself—but the ads for it. A proposed amendment to House Bill 1390 would ban marijuana-related billboards across the state.

The catch? These ads mostly target Michigan dispensaries, where cannabis is legal. So, this debate isn’t about weed—it’s about the First Amendment and whether you can advertise illegal (in Indiana) substances from across state lines.

🍄💚 New Hampshire House Passes Marijuana Legalization, Psilocybin Decriminalization And Medical Cannabis Expansion Bills

Hold the phone—New Hampshire just passed not one, not two, but three major cannabis and psychedelic reform bills!

• Marijuana legalization (HB 198): Adults 21+ could possess up to 2 ounces of flower, 10 grams of concentrate, and 2,000mg of THC. No home grow or retail sales yet, though.

• Psilocybin decriminalization: Adults would no longer face criminal penalties for possession.

• Medical cannabis expansion: Patients can now purchase double the amount of cannabis. Huge win for patient access.

This is a major leap forward for the “Live Free or Die” state.

🏥⚖️ Oregon Bill Would Prohibit Employers From Firing Medical Cannabis Patients

Oregon lawmakers are considering a bill that would make it illegal to fire (or not hire) someone solely because they’re a medical cannabis patient or failed a THC drug test.

SB 176 also prevents healthcare providers from denying treatment to medical cannabis patients. A big step toward ending the catch-22 where patients are punished for legally managing their health.

👅🚛 Federal Official Downplays Criticism That Saliva-Based Marijuana Testing As Urine Alternative Would Spur Use By Truckers

A federal health official is clapping back at critics of the Department of Transportation’s switch to saliva testing for truckers. Some, like Ken Fichtler from Gaize, argue this change creates a loophole for cannabis use because saliva tests only detect use from the past 24–48 hours—versus weeks for urine.

The unnamed SAMHSA official isn’t having it, insisting the tests are about impairment detection, not punishment. The shift to oral testing was finalized in 2023 and could be a game-changer for employment policies across industries—not just trucking.

🚀🌿 4/20 In San Francisco? Here's Why SF Space Walk Should Be On Your Radar

If you’re planning a 4/20 trip, San Francisco just dropped a major pin on the map. SF Space Walk returns April 13–20 with a full week of cannabis lounge crawls, exclusive strain drops, and all the elite-level vibes, reports Benzinga’s Javier Hasse.

This year’s version is even bigger than 2023, featuring top brands like Snowtill, Alien Labs, 710 Labs, Trap, and Team Elite Genetics across seven lounges, culminating in the mother of all 4/20 blowouts.

Over 10,000 RSVPs are expected, and trust—this is not your average sesh. Think of it as Wine Country, but for connoisseur-level flower.

Until next time, let’s all keep it chill, stay informed, and support our local dispensaries. 🌱✌️

Got thoughts? Tips? Wild stories from your dispensary visits?

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