You're receiving this email because you're subscribed to Cannabis Daily from Benzinga. To manage your subscription, click the link at the bottom of this email.

Hang in there, it's almost Friday! I’m Nico Rodriguez, bringing you the latest updates on the cannabis markets. The gloves are off as Trulieve sues the Florida GOP over misleading 'Big Weed' claims. Meanwhile, Tilray preps for its Q1 earnings and the cannabis industry’s marketing strategies are starting to look a lot like those of tobacco and alcohol.

Trulieve Sues Florida GOP Over 'Big Weed' Claims

Trulieve (OTC: TCNNF) is firing back at the Florida GOP, filing a defamation suit over a misleading ad that claims only big cannabis corporations will benefit from legalization. The ad, featuring a tongue-in-cheek “Big Weed” character, implies Trulieve is monopolizing the market—something the company firmly denies. 

As GOP representative Anthony Power cheekily calls the lawsuit an “overreaction,” Trulieve insists it's about setting the record straight. With $90 million invested in the campaign, they’re not leaving anything to chance. Expect fireworks as voting day approaches.

PRESENTED BY DUTCHIE

Dutchie 2.0 is Modernizing Cannabis Retail with Personalization and AI

Introducing Dutchie 2.0, Dutchie’s biggest release ever. This transformative update is focused on modernizing cannabis retail with Personalization and AI across Point of Sale, E-commerce, and Loyalty & Marketing. Major upgrades include a new 360’ reporting engine, digital payments powered by Plaid, and customer segmentation and insights from online to in-store at the register and kiosk. Visit business.dutchie.com for more information.

AI-Driven Cannabis Retail? 

Speaking about the launch of Dutchie 2.0, Javier Hasse details how the platform is tackling the cannabis industry's most persistent pain points. Dutchie CEO Tim Barash emphasizes the importance of customer-centric innovation, using AI to enhance personalization and operational efficiency in cannabis retail. Check out Javier’s full story on how technology is driving evolution in the cannabis market.

Tilray’s Q1: More Than Cannabis 

Tilray (NASDAQ: TLRY) will release its Q1 earnings on October 10, with eyes on its cannabis and beverage performance.

Last quarter, the company saw a 25% revenue boost, with beverage sales up 137%. Tilray’s reach spans from Georgia to Australia, blending cannabis, wellness, and consumer goods. 

Analyst Pablo Zuanic highlights U.S. brewery assets, which could pivot to hemp or cannabis, making Tilray a strategic long-term play as it builds a retail network beyond cannabis.

The analyst explained that the German and US drinks businesses will be the two main drivers of growth for Tilray in fiscal year 2025.

A CBD Bill That’s Only Five Years Late

After years of regulatory limbo, Sen. Ron Wyden’s CBD bill is here—better late than never, right? The Cannabinoid Safety and Regulation Act (CSRA) is aiming to stop the Wild West of hemp-derived products.

ONE HEMP calls it "long overdue,” while Charlotte’s Web praises it as “critical.” With the market waiting since 2018, it’s like Congress finally remembered CBD exists—just in time for a nap.

O-High-o Surges, Yet Michigan Holds the Throne

Ohio’s cannabis market hit $76.3M in sales by the end of September, just two months after launching. The first 12 days alone saw $22.5M in sales. Despite this, Michigan’s record-breaking $295.4M in August shows they’re still the leader. Ohio's dispensaries moved over 8,813 pounds of plant material and 1.2M products.

Marketing Tactics Under Fire: Cannabis Borrowing from Big Tobacco?

NIDA Director Nora Volkow raised alarms this week, noting that the cannabis industry is adopting marketing strategies reminiscent of the alcohol and tobacco sectors.

Volkow specifically flagged ads targeting seniors, a demographic with rising cannabis use, and warned of potential health risks.

While youth consumption remains stable, the focus is shifting to older adults being lured by claims of therapeutic benefits. Volkow emphasized the need for further research to guide responsible policy and protect vulnerable populations.

Stories In The Spotlight:

• How Google, Microsoft, And Netflix Are Fueling Cannabis Legalization With Millions In Donations

• Trump, Harris, Vance, And Walz Agree On This: End Cannabis Criminalization In Florida

• Why Weed Aroma Matters: Aurora Cannabis Collaborates In Study On Marijuana Smells

• How Cannabis Legalization In Germany Boosted This Company's Revenue, Will Spain's Medical Marijuana Framework Do The Same?

• PharmAla Biotech To Supply MDMA For Harvard's Maclean Hospital Clinical Trial

Our Writer Today

Nicolás holds a B.A. in International Relations, an M.A. in International Affairs, and an M.Phil in Public Policy. He is a doctoral student in Public and Urban Policy at The New School in New York City. After working for the United Nations in 2014, Nico pivoted his research to studying the relationship between the cannabis industry and economic development.

BEFORE YOU GO

Were you forwarded this email? Click here to subscribe.

And be sure to check out our other newsletters:

Ring The Bell: Created for market enthusiasts by market enthusiasts, this twice-daily newsletter delivers top stories, fast movers, and hot trade ideas straight to your inbox. Subscribe here.

Future Finance: Where fintech, crypto, and the future of finance collide. Future Finance is a perfect lunch read packed with quick bites for industry enthusiasts. Subscribe here.

Real Estate Weekly: Where we highlight the movers and the losers, the upgrades and the downgrades, the top stories and opportunities in the trillion dollar REIT and real asset industry. Subscribe here.

Advisor: Tailor-made for Financial Advisors, this weekly newsletter has industry-specific insights, analysis, and news. Subscribe here.