Freaky Friday Pot-pourri

News & views across the canna landscape.

Daily Recap

States have generated nearly $25 billion in revenue from adult-use cannabis since the first sales started over a decade ago, according to a new report.

In 2024 alone, states collected $4.4 billion in recreational cannabis tax revenue—the most ever garnered in a single year. Seven states took in over $200 million each, with four of those seeing more than $500 million in revenue and one exceeding $1 billion.

“At a time when federal funding cuts are putting pressure on states’ budgets, adult-use cannabis taxes are bringing billions of dollars into states’ coffers.”

Lauren Daly, MPP

cumulative canna sales

Common Wealth

Pennsylvania stands to generate up to $2.1 billion in cannabis tax revenue within five years if it enacts adult-use legalization, according to a new analysis.

As lawmakers work to reach a deal on a reform bill after a House-passed measure to legalize with state-run stores was rejected in a Senate committee, a report from MPP underscores what we all know: Pennsylvania is missing out on a sizable windfall of tax revenue by maintaining the status quo of prohibition.

The analysis looked at canna tax revenue data from Arizona, Maryland and Michigan and adjusted it to account for Pennsylvania’s population. Assuming a 16% tax rate, Pennsylvania could generate between $105-$197M in the first year of legal sales.

Blue Grass

The governor of Kentucky has announced a new online directory that lets people see where medical cannabis dispensaries will be opening near them—and he signed an executive order to waive renewal fees for patients who get their cards this year so that they don’t get charged again before retailers open.

“Since taking office, we’ve been committed to providing access to health care and creating safe communities for all Kentuckians. One of our priorities was securing medical cannabis for Kentuckians suffering from cancer, PTSD, and chronic pain.”

80-20 Rule

A new study on cannabis and chronic pain finds that more than 8 in 10 patients who used medical marijuana reported it to be a useful tool for pain management.

“This points to the possibility that cannabis could serve as a safer alternative or complement to standard pain management approaches, potentially helping to address the ongoing opioid crisis.” Ari Greis, an orthopedic surgery professor

Stocks & Stuff

It was a quiet summer Friday on Wall Street as major market indices finished flattish, brushing off Chinese trade tensions to finish the best May performance since 1990, as measured by the S&P.

Cannabis stocks were softer, led by a 23% drop in Canopy Growth after “earnings” and some sobering stateside news. U.S. canna ETF MSOS lost a dime, or 4%, and finished May 23% lower than where it began..

Below, we’ll recap the week, top line the space, chew through the headlines, check on forward estimates on this side of the border, keep an eye on the Canadian movers and shakers, and see why THC bans are nowhere near a death sentence for hemp farmers.

All that and more, just scroll down.

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

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