Happy Wednesday, Cannabis Investors! The largest wine retailer in the U.S. is adding a new buzz to its repertoire: THC-infused concoctions.

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TOP STORY

GOP-Led Committee Pushes To Ban Cannabis Tests For Military Recruits

Briefly: The GOP-controlled House Armed Services Subcommittee on Military Personnel is advancing significant changes to military recruitment policies.

What Happened: The subcommittee unveiled recommendations this week within the 2025 National Defense Authorization Act that address both cannabis and psychedelics regulations.

Back Up: Last summer, records obtained by The New York Times revealed that the federal government was struggling to replace its aging workforce, and recruiters were responding by loosening drug screening rules.

Specifically: One key aspect of the proposal involves an end to marijuana testing for enlistment or commissioning purposes. Along with the cannabis provisions, the subcommittee advocated for robust oversight of DoD-led clinical trials on the therapeutic potential of psychedelics.

Additionally: Certain military branches have already begun relaxing cannabis-related restrictions, signaling a broader shift in policy.

Why It Matters: Bipartisan support for psychedelics medicine has surged, in fact surpassing that of marijuana, as evidenced by recent discussions within the Department of Veterans Affairs.

Click here to read more.

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ZINGERS

Glass House Cannabis Brands Exceeds Q1 2024 Guidance In Cash, Sales, Production And EBITDA

Cresco Labs CEO Touts 10x Increase In Operating Cash Flow YoY As Cannabis Company Reports Q1 Results

Flora Growth Goes Back To Net Loss In Q1, Positive About 'Landmark Reform' In The US, Focuses On Europe

Judge Orders Cannabis Dispensary To Rehire Fired Workers And Bargain With Union

Tilray Stock: What’s Going On?

ONE MORE FOR THE ROAD

What's Hurting New Jersey Cannabis Sales? Analyst Explains

Briefly: In his recent reports, Zuanic & Associates managing partner Pablo Zuanic detailed the mixed economic conditions across various states in Q1 2024.

So Basically: Zuanic observed the increasing number of retail locations in New Jersey diluted revenues per store, suggesting that the market might be experiencing over-expansion.

So Then: Other states performed mixed compared to New Jersey. For instance, while Pennsylvania saw a 3% sales increase, Connecticut experienced a 6% decline. California adjusted to a $5 billion market size despite a 6% year-on-year drop, and Michigan stood out with a 24% year-over-year growth.

So What? To hear more on the detailed analysis of the cannabis and psychedelics markets, join us at the Benzinga’s Cannabis Market Spotlight event in New Jersey on June 17, where Zuanic is a featured speaker.

Click here to get your tickets now.

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