Hemp? What Hemp?

The next two weeks will shape the space.

Daily Recap

Since July 2023, Florida’s Department of Agriculture & Consumer Services uncovered over 726,000 packages of hemp products that appeared to target children.

During the statewide sweep, inspectors visited over 700 businesses and found more than 83,000 high-potency products marketed in ways that violated Florida law.

With just four days until new, stricter regulations take effect, Florida’s Commissioner of Agriculture has issued a forceful reminder to all hemp businesses:

Get compliant or face swift enforcement.

As of June 16, 2025, amended Rule 5K-4.034, governing hemp and hemp extract for human consumption, will be fully enforced, promising a “zero tolerance” approach to noncompliance.

The new approach is clear: hemp businesses must respect food safety and consumer protection laws, or risk penalties, product seizures, and loss of licensure.

N.C. State

The governor of North Carolina is reiterating his support for legalizing cannabis, stressing the need to create a regulated cannabis program to mitigate the risks associated with products in the intoxicating hemp market.

“There are unregulated intoxicating THC products available for purchase across the state. There is no legal minimum age to purchase these products, kids are buying them without enforceable labeling requirements and adults are using them without having any idea what’s in them or how much THC there is.”

Plants not Pills

Iron Mike Tyson warned against the dangers of fentanyl during a tour of a US Drug Enforcement Agency laboratory in New York City. The boxing great donned a DEA lab coat and visited the facility with Alina Habba, the acting US Attorney for New Jersey.

Habba, who became a close friend of Tyson and his wife Kiki after meeting at a UFC fight, said they all agree on safety — even if they don’t see eye to eye on canna use. “There is a real toxic problem, and that’s the truth of it,” she said.

“I haven’t been smoking cigarettes, I haven’t been drinking, I haven’t done cocaine in nine years. Now, I’m trying to make the whole cannabis universe safe.” Mike Tyson

Mo Mo

Missouri reported $133M in cannabis sales for May 2025, marking the state’s highest monthly total of the year and a 7.41% increase over May 2024.

Missouri’s average daily cannabis sales in May 2025 reached $4.28M, up from $3.99M in May 2024 and $3.9M in May 2023. The increase in daily averages reflects a steady acceleration in consumer demand.

Stocks & Stuff

U.S. equity markets continued to demonstrate stubborn stickiness as bond yields fell after a strong auction and the dollar closed lower. Cannaland was another quiet and low volume affair on both sides of the border.

Below, we’ll top-line the landscape, finger three June catalysts that could shape the space, share more signs of late-stage capitulation, offer additional color on Benzinga, and quantify the impact of hemp on the state-legal sales.

All that and more, just scroll down.

note: there will likely be no Canna Confidential tomorrow. Happy and safe Father’s Day to all the dads (and dog dads) out there.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional:

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