Last Week in Weed: May 5-12, 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:
TerrAscend Plants Its Flag in Ohio with Ratio Cannabis Acquisition
TerrAscend officially expanded into its sixth U.S. state last week, finalizing the acquisition of Ratio Cannabis, a high-performing dispensary in Goshen Township, Ohio. With no direct competition within a 20-mile radius and $9 million in annualized revenue, the deal is expected to immediately boost EBITDA and cashflow.
The move brings TerrAscend’s retail footprint to 39 dispensaries across the U.S. and Canada, reinforcing its multistate strategy. “Entering Ohio has long been a priority for us,” said Executive Chairman Jason Wild, calling the deal “a great first step” toward building a larger footprint in the Buckeye State.
TerrAscend, which operates brands like Gage, Cookies, and The Apothecarium, aims to acquire more Ohio dispensaries—up to the state’s eight-store limit. This marks another calculated step in the company’s effort to build regional dominance ahead of broader federal reform.
Texas Advances Psychedelic Research with Bipartisan Ibogaine Bill
In a rare show of near-unanimous support, the Texas House voted 141-2 to approve a Senate-backed bill funding clinical trials of ibogaine, a psychedelic compound with promising results in treating opioid use disorder (OUD) and trauma-related conditions. The legislation, championed by Sen. Tan Parker (R) and Rep. Cody Harris (R), establishes a state-funded grant program to support research aimed at securing FDA approval for ibogaine-based therapies.
The bill now heads back to the Senate for concurrence on minor amendments before potentially landing on Gov. Greg Abbott’s desk.
The legislation would enable the Texas Health and Human Services Commission to partner with qualified public, private, or nonprofit entities capable of conducting FDA-eligible clinical trials. It’s part of a broader push in the state to reduce barriers to psychedelic-assisted therapy, with two additional House bills also moving forward to prepare for eventual FDA approval of psilocybin, MDMA, and ketamine.
Feds Urge Standardization in Cannabis Drying Methods
A new report from the National Institute of Standards and Technology (NIST) highlights inconsistent drying practices across cannabis labs, calling for standardized methods to ensure accurate testing. In a study involving 89 labs, only 20% hit NIST’s target moisture range, raising concerns about data reliability for THC levels and contaminants—both of which are measured on a dry-weight basis.
The findings are part of NIST’s ongoing Cannabis Laboratory Quality Assurance Program, which aims to improve lab precision as federal oversight of cannabis research intensifies.
Cannabis Revenue Climbs While Jobs Dip, Vangst Report Shows
According to Vangst’s 2025 Cannabis Jobs Report, U.S. cannabis sales rose to $30.1 billion in 2024—a 4.5% increase—despite a 3.4% decline in full-time jobs across the sector. The industry now supports 425,002 FTE positions, with emerging markets like New York and Mississippi adding jobs, while mature states such as Illinois and Arizona saw cuts.
Analysts say the dip reflects a shift toward operational efficiency as companies adapt to tighter margins and uneven market maturity. Still, with revenue projected to hit $34 billion in 2025, the industry’s long-term growth trajectory remains strong.
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