Freaky Friday Pot-pourri

News & views on the cannabis industry.

Daily Recap

According to an analysis from Matt Karnes at GreenWave Advisors, the U.S. could be missing out on up to $10 billion a year simply by sitting on the sidelines of global cannabis trade.

That’s not just market share—it’s jobs, tax revenue and influence, slipping away while countries like Canada, Portugal, and Colombia race ahead. This is no small matter—cannabis is shaping up to be one of the world’s fastest-growing regulated industries, much like alcohol, tobacco, and pharma before it.

The U.S. once led all three globally. Why should cannabis be any different? Simple—because draconian federal laws continue to punish American citizens and American businesses for what is now legal in over half the country and throughout the world.

“U.S. cannabis is the definition of American exceptionalism—but the longer it takes for the federal bureaucracy to unwind the war on drugs, the more ground we’ll lose to nations like Canada that have already forged international inroads and alliances.

The race is on…given an even playing field—including access to U.S banks and stock exchanges, and a normalized tax rate—the U.S. would presumably lead the evolution of the global marketplace…but onerous federal regulations continue to punish the pioneers and entrepreneurs who’ve historically made America great.”

Eyes on the Spies

The staff of U.S. Drug Czar Sarah Carter highlighted an investigation that uncovered that several individuals accused of operating an illicit marijuana farm in rural Maine have significant connections to a Chinese Communist Party organization involved in intelligence and foreign influence operations.

According to reports, illegal marijuana operations run by Chinese nationals have been discovered in repurposed homes, former schools, mills, recycling centers, and other industrial sites across the state. Police raids have resulted in the seizure of hundreds of pounds of marijuana and thousands of cannabis plants at single sites, with some busts also revealing methamphetamine or banned fumigants.

“We’ve identified and visited more than 150 illegal Chinese marijuana growing operations throughout the state of Maine. The neighbors are terrified, and legitimate marijuana businesses are collapsing due to the illegal competition.” Steve Robinson

Cloudy, with a Chance of Pain

The Florida Legislature will not pass a regulatory framework for hemp this session, per Rep. Michelle Salzman, who headed up a legislative work group on the issue. She said the House and Senate were unable to bring separately crafted bills together before a Friday deadline to pass policy bills.

“We are shifting gears,” the Pensacola Republican told Florida Politics. “We will not be focused on this legislation as we wrap up the 2025 Session.” Not a good look for the Sunshine State, as nasty gas station weed just got an extended lease. This, of course, comes after DeSantis screwed the pooch using constituent funds.

Hey Florida: Walk this Way 👇

The Ohio Senate unanimously passed a bill that would regulate intoxicating hemp and drinkable cannabinoid products, requiring them to be sold at adult-use dispensaries instead of convenience stores, smoke shops, or gas stations. The bill now moves to the Ohio House for consideration.

“Current intoxicated hemp products are untested and unregulated. The bill protects buyers from gaining access to these intoxicating products and ensures adults can still purchase them from existing regulated operators.” Ohio Sen. Steve Huffman (R)

Stocks & Stuff

U.S. stocks rallied, recouping the entirety of the April tariff tantrum as the index enjoys it’s longest winning streak in more than 20 years.

The nine-day advance in the S&P is the longest since 2004 as the index notched a 14% gain since the April bottom pushed the index to the brink of a bear market.

U.S. cannabis ETF finished marginally higher, and finished the week with a 7% gain.

Below, we’ll catch you up on all the happenings in Cannaland, check on our technical footing, get color on the recent comments from incoming DEA admin Terry Cole, and collect perspectives on what is, what should be and what will ineviatably happen.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $8M

Top Stories