Last Week in Weed: Feb. 24th- Mar 3rd, 2025
Welcome to the latest edition of “Last week in Weed,” catching you up on the latest breaking news and industry developments in the world of cannabis.
Here’s what you may have missed over the last week:
Ohio Senate Moves to Reverse Voter-Approved Cannabis Legalization
The Ohio Senate voted to roll back a cannabis legalization law that had been approved by voters. Let’s be clear, this isn’t just about cannabis—it’s about power. It’s about who actually gets to make decisions in a so-called democracy. The voters spoke, and the Senate responded by flexing their own will on the people they claim to represent. The notion that voting is merely a suggestion for the Senate to consider is bound to face strong backlash.
New Jersey Governor’s Cannabis Tax Hike Sparks Controversy
Governor Phil Murphy has proposed raising New Jersey’s cannabis excise tax from $2.50 to $15 per ounce, aiming to fund social programs. Critics, including Senate President Nicholas Scutari, argue the hike will drive consumers back to the illicit market, as legal prices are already significantly higher. Murphy’s administration insists the increase falls within existing tax regulations. The debate comes as industry leaders prepare to discuss the state’s cannabis future at the upcoming Benzinga Cannabis Market Spotlight: New Jersey event.
Brittney Griner Cancels Appearance After Disturbing Hotel Incident
WNBA star Brittney Griner withdrew from the Women Grow Leadership Summit after discovering a piece of duct tape with the phrase “Gay Baby Jail” in her Maryland hotel room. While the message is linked to a niche internet meme, Griner, who has faced previous harassment, chose to prioritize her safety. Authorities believe the tape was left unintentionally by a prior guest.
Learn more here: ‘Gay Baby Jail’ Note Sparks Misunderstanding
Industry Expansion and New Product Launches
LFTD Partners Inc. has entered the Illinois cannabis market, marking a significant expansion for the company. Trulieve Cannabis Corp. has broadened its product line with the introduction of THC-infused beverages, catering to the growing demand for diverse cannabis consumption options. Additionally, entertainment icon Ice Cube has launched his own cannabis brand, Fryday Kush, further blending celebrity influence with the cannabis industry.
Financial Performance and Market Movements
Strong earnings reports have contributed to a rally in cannabis stocks, indicating robust performance in the sector. Notably, High Times has put its intellectual property up for sale, signaling potential shifts in cannabis media and branding.
Texas Judge Upholds Dallas Marijuana Decriminalization
A Texas judge rejected the Attorney General’s attempt to overturn Dallas’s voter-approved cannabis decriminalization law. This ruling is more than just a sound legal decision; it’s a warning shot aimed at politicians who think that democracy is a buffet where they only have to put what they like on their plate.
The post Last Week in Weed: Feb. 24th- Mar 3rd, 2025 appeared first on Cannabis & Tech Today.