The Supremes

High Court highlights hemp hypocrisy.

Daily Recap

The U.S. Supreme Court today ruled in favor of a trucker who sued a canna company after he was fired over a positive THC test that he claims was caused by consuming a hemp-derived CBD product.

The justices’ decision means the trucker can seek triple damages from the company that made the product under federal anti-racketeering laws. He says the company falsely advertised the product as having “0% THC,” which is why he decided to try it for pain management—but he was later fired after he tested positive for THC.

This is another example of why the cannabis plant—and the industry, including our hemp brethren—must adhere to a single regulatory framework for THC, versus the current and confusing construct of federally legal hemp (that’s illegal in certain states) vs. state-legal cannabis (that remains federally illegal).

Where’s Billy Martin?

As New York State marks four years since the legalization of adult-use cannabis, a vacancy to lead the state Office of Cannabis Management remains unfilled after a torrent of chaos—and it's unclear when that will change.

The department weathered multiple lawsuits since adult-use began and despite 335 legal cannabis shops netting $1.2B in sales, there is still no executive director. Gov. Hochul's office said she’ll announce her nomination when the time is right. Solid.

Deep Sea Fishing

Florida officials have sent a cease-and-desist letter to the campaign seeking to place a cannabis legalization initiative on the state’s 2026 ballot, alleging that the group has “committed multiple election law violations.”

The Office of Election Crimes fined Smart & Safe Florida more than $120,000 for submitting completed petitions more than 30 days after they were signed, and the issue has been referred to law enforcement for a “potential criminal investigation.”

The Czar Side

Incoming Drug Czar Sara Carter knows Chinese crime rings and Mexican cartels have been operating in plain sight and taking advantage of the chasm bw decriminalization and legalization—which is yet another reason we need uniform THC regulations…

…as cannabis remains a Schedule I Narcotic “with no accepted medical use” 🫠

Stocks & Stuff

I pulled the ripcord early today ahead of a few meetings and a dinner in the city. The tenor of the tape remains lame, although that Supreme Court ruling may be a low-key positive to fast-track hemp regs and/ or (preferably) the convergence of THC regs.

Below, we’ll chew through today’s news, dig deeper into the landlord-tenant disputes and potential for resolution, digest mixed messages from administrative appointments and share the one single certainty that we still have in this space.

All that and more, just scroll down.

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