Hey there Benzinga Cannabis community, Maureen Meehan and Javier Hasse here with your daily guide through the ever-evolving world of cannabis. We’ve got lots of news including how inflation is affecting cannabis sales as well as some cannabis stocks to keep an eye on this week as earnings reports are about to stream in.

Let's dive into today's top stories, shall we?

In today's issue:

• Market Trends

  • Inflation's Impact On Cannabis Consumers

  • California's Illicit Market Still Dominant

• Regulatory Developments

  • Georgia Lawmakers Weigh Broader Access To Medical Marijuana, Potentially Expanding Limited Low-THC Program

  • New York Introduces White Labeling License

  • Federal Ban Boosts Illicit Market, Says California Report

• Cannabis Business Moves

  • MariMed Acquires First State Compassion Center

  • ILGM's Educational Tour Across the U.S.

• Cannabis Earnings To Watch This Week

  • ILGM's Educational Tour Across the U.S.

Inflation's Impact On Cannabis Consumers

A recent poll reveals that two out of three marijuana consumers are tightening their belts and spending less on cannabis due to rising inflation. While many focus on soaring prices of essentials like eggs and gas, a survey from NuggMD highlights how broader economic pressures are influencing personal choices in the cannabis community.​

California's Illicit Market Still Dominant

Despite over seven years of legal sales, California's licensed cannabis businesses have only captured about 40% of the state's market. The illicit weed trade continues to thrive, holding onto approximately 60% and illegally exporting millions of pounds of cannabis. Some optimistic analysts see potential opportunities for legal businesses to reclaim market share.​

Georgia Lawmakers Weigh Broader Access To Medical Marijuana, Potentially Expanding Limited Low-THC Program

Georgia lawmakers are considering expanding the state's limited low-THC medical marijuana program. Despite legalization for medical use a decade ago, many residents still turn to the black market or online sources for cannabis products. Lawmakers had long resisted broader access due to stigma, even as parents advocated for relief for children with severe medical conditions.

Attempts to widen the path to accessing medical cannabis have stalled in recent years, but as the pivotal Crossover Day deadline looms March 6, at least one bill has made it halfway through the Legislature.

New York Introduces White Labeling License

New York's adult-use cannabis market is taking a unique approach by launching a white labeling license. This move aims to protect market opportunities for residents and keep large multistate operators at bay, ensuring that local businesses have a fair shot in the burgeoning industry.​

Federal Ban Boosts Illicit Market, Says California Report

A new report commissioned by California's Department of Cannabis Control concludes that the federal prohibition on interstate cannabis commerce is bolstering the illicit market. The inability to engage in interstate trade hampers legal businesses, inadvertently giving the black market a competitive edge.​

MariMed Acquires First State Compassion Center

MariMed (CSE: MRMD) (OTCQX: MRMD) has finalized its acquisition of First State Compassion Center in Delaware. This deal transitions their longstanding management relationship into full ownership, bringing cultivation, processing facilities, and two dispensaries under MariMed's control.​

ILGM's Educational Tour Across the U.S.

I Love Growing Marijuana (ILGM) is hitting the road this spring with a six-city U.S. tour. The cannabis seed retailer aims to educate new growers and strengthen community ties among cultivators, fostering a more informed and connected industry.​

Keep an eye out for these upcoming earnings reports.

Wednesday, March 5:

• Hydrofarm (NASDAQ: HYFM)​

Thursday, March 6:

• MariMed (OTC: MRMD)​

• Ayr Wellness (OTC: AYRWF)

• Turning Point Brands (NYSE: TPB)​

• Jushi Holdings (OTC: JUSHF)​

• TerrAscend (OTC: TSNDF) ​

That's a wrap for today's Cannabis Daily. Stay informed, stay elevated and we’ll catch you in tomorrow’s edition.

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