Tomato Coup

Village Farms has reinvented itself.

Daily Recap

The U.S. Supreme Court has approved a request from the government’s top lawyer that sought more time to consider a challenge to a February appeals court ruling around the federal prohibition on gun ownership by people who consume canna.

An order by Justice Kavanaugh last week granted government lawyers an extension until June 5 to decide whether to appeal a February ruling from the U.S. Circuit Court of Appeals. Solicitor General D. John Sauer had previously requested the extension, telling the high court the government needed more time to consider the case.

Crop Gelding

The Texas hemp industry has effectively been handed a death sentence with the upcoming passage of Senate Bill 3. The Legislature has sent the bill, which bans hemp products that contain even trace amounts of THC, to Governor Greg Abbott's desk.

The plant has been a target for lawmakers since the start of the legislative session, led by Lt. Gov. Dan Patrick. Patrick, who visited Austin dispensaries and vowed a special session if it failed, said the hemp industry exploited a loophole in the farm bill.

Separately and as discussed, the Texas Senate just passed a bill to expand the medical marijuana program with new qualifying conditions and additional dispensary licenses.

The Bronze Con

A Florida member of Congress is hopeful her request for a federal investigation into allegations of impropriety regarding the Hope Florida Foundation will begin soon.

The foundation is the nonprofit arm of Hope Florida, the state welfare program that works with nonprofits and faith-based groups, led by First Lady Casey DeSantis.

The Hope Florida Foundation gave $10M from a state Medicaid settlement to two nonprofits last year. Those groups then gave millions to campaign against a proposed referendum to legalize adult-use cannabis in Florida.

“The letter has been received, and we are reviewing for appropriate action.”

Health & Human Services Office of Inspector General.

Scorn Huskers

A legislative proposal that would ban most consumable hemp and THC products in Nebraska advanced Tuesday without amendments as opponents blocked changes.

If the bill passes, it will include a “safe harbor period” through the end of 2025 to give consumers time to discard any “illegal hemp” as newly defined. Legal products would face an additional 10% wholesale tax at the time of purchase.

Stocks & Stuff

The combination of a strong forecast from Nvidia and a court ruling that blocked many of President Trump’s tariffs sparked a massive overnight rally in risk assets that was faded as the session progressed. The indices finished with modest gains.

Below, we’ll chew through this week’s news and the implications for our forward path, take a deep dive on Verano with ATB, and finger another potential catalyst for Village Farms as it emerges as a NASDAQ-listed go-to name for international cannabis.

All that and more, just scroll down.

note: There will likely be no Canna Confidential tmrw—but we said that last week too.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $5M

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