This week in cannabis was anything but quiet. From LFTD Partners Inc. LIFD making a move into the Illinois cannabis market to Trulieve Cannabis Corp. TCNNF expanding its beverage portfolio, the industry saw big announcements across multiple fronts. Meanwhile, Germany's cannabis imports surged fourfold, cementing its role as Europe's top market, while New Jersey and Ohio legislators clashed over tax hikes and voter-approved cannabis laws.

In the celebrity space, Ice Cube unveiled his new cannabis brand in partnership with Priscilla Vilchis, a strategic move aimed at avoiding the common pitfalls of celebrity-endorsed cannabis products. High Times' intellectual property is once again up for sale, leaving questions about the future of the once-iconic brand.

On the social justice front, B NOBLE announced a $25,000 donation to The Bronx Defenders, reinforcing its commitment to cannabis-related criminal justice reform. At the same time, New York is rolling out a marijuana business grant program aimed at helping dispensaries run by those harmed by prohibition.

Meanwhile, Curaleaf Holdings Inc. CURLF and Total Wine & More are partnering to expand cannabis-infused beverage distribution, signaling further normalization of THC drinks in mainstream retail. And in sports, WWE reportedly removed marijuana from its banned substances list, aligning with broader trends in professional athletics.

On the events side, Benzinga's Cannabis Market Spotlight: New Jersey takes place this Tuesday, March 4, bringing together key investors, regulators, and operators to discuss the latest trends shaping one of the East Coast's fastest-growing markets.

From shifting regulations to corporate power moves, let's dive into this week's top cannabis industry news.

Market Moves And Corporate Expansions

LFTD Partners Expands Into Illinois Cannabis Market

LFTD Partners Inc. is making a major play in Illinois, announcing plans to acquire cannabis licenses, industrial properties and retail businesses. The deal includes craft grow, infuser and transport licenses, an 18,558-square-foot facility in Skokie for cannabis manufacturing and two industrial buildings in Rockford that could be used for cultivation or THC beverage production. Additionally, LFTD is acquiring Mrs. Buckbee's Wake N Bakery and stakes in District Bar & Grill and Half Baked Bar.

The transactions, structured as an all-stock deal, are subject to regulatory approvals, audits, and transfer of licenses. If completed, John Murray will join LFTD's board as chief business officer and Erik Carlson will become general counsel and chief compliance officer. CEO Gerard Jacobs called the acquisitions a strategic diversification into real estate and marijuana businesses.

Trulieve Launches THC-Infused Beverage Line

Trulieve Cannabis Corp. is entering the cannabis beverage market with Onward, a line of non-alcoholic THC drinks designed for social settings. The beverages, made with naturally derived THC and CBD, come in flavors like blueberry mojito, Italian spritz and peach bellini. Available online and soon at select Total Wine stores in Florida, Onward aims to attract consumers seeking alternatives to alcohol.

CEO Kim Rivers highlighted Trulieve's experience in product development, positioning Onward as a new way to meet evolving consumer preferences. The drinks are low-calorie, free of artificial ingredients, and made using a proprietary formulation to ensure consistency.

Ice Cube Partners With Priscilla Vilchis To Launch Fryday Kush

Ice Cube is bringing his signature style to the cannabis industry with Fryday Kush, a new brand developed in partnership with cannabis entrepreneur Priscilla Vilchis. The duo has spent over a year perfecting 16 hand-picked strains designed for different consumer preferences, from high-potency selections to milder options for social use.

Vilchis, known as the "Hollyweed Queen," was one of the first Latinas to secure cannabis licenses in California and Nevada. Her experience in cultivation and market expansion aligns with Cube's demand for quality. “She's definitely somebody who won't take no for an answer when it comes to this space,” Cube said of his partner.

Unlike many celebrity cannabis ventures, Fryday Kush is focused on authenticity and quality. The brand's launch comes amid growing consumer demand for premium cannabis products and a competitive landscape where only well-executed brands thrive.

California Cannabis Brand CAKE Launching Statewide Across Nevada

CAKE, one of California's fastest-growing cannabis brands, expanded into Nevada. Known for its signature electric-pink vape devices and bold branding, the female-founded company has rapidly gained market dominance, achieving $24 million in sales last year with a 4,200% growth surge.

CEO Chloe Kaleiokalani emphasized that Nevada's cannabis scene has been waiting for a product that "hits different," referencing the brand's blend of premium quality and cultural influence. CAKE's Designer Distillate vapes will be available at dispensaries across Nevada, including Wallflower, GTI, Nevada Made, Thrive, Curaleaf, Shango, Euphoria and more.

Curaleaf Partners With Total Wine & More To Expand THC Beverage Distribution

Curaleaf Holdings Inc. is taking its THC beverage line, Select Zero Proof, into mainstream retail by partnering with Total Wine & More. The deal will place Curaleaf's hemp-derived THC seltzers in over 100 Total Wine locations across nine states, including Arizona, Florida, Texas and North Carolina, with further expansion planned.

The partnership underscores a growing trend of cannabis companies entering mainstream retail channels, as beverage-based THC products continue to gain traction among consumers looking for an alternative to alcohol. Curaleaf Chairman and CEO Boris Jordan highlighted the move as a strategic step in expanding the company's presence beyond traditional dispensaries.

High Tide Adjusts Strategy For German Market Entry

High Tide Inc. HITI has restructured its approach to entering the German medical cannabis market. Initially planning to acquire a 51% stake in Purecan GmbH for €4.8 million, the company is now exploring alternative arrangements to maintain its commercial exposure in Germany.

While details remain uncertain, High Tide reaffirmed its commitment to the German market and continues to assess opportunities for entry. With Germany's medical cannabis imports surging and broader regulatory changes underway, the company sees significant growth potential in the country's evolving cannabis landscape.

Regulatory And Policy Shifts

Germany's Cannabis Imports Surge Fourfold

Germany's medical cannabis imports reached a record 31.6 metric tons in the fourth quarter of 2024, marking a nearly fourfold increase from the beginning of the year, according to a Zuanic & Associates report. The surge follows changes to Germany's Narcotics Law, which took effect in April 2024, making medical cannabis more accessible.

Canada and Portugal were the biggest beneficiaries of this demand, with Canada supplying 43 percent of imports and Portugal capturing 29 percent of the market. Denmark, North Macedonia, Uruguay, Australia, South Africa and Spain also contributed to the supply chain.

The growth of Germany's market is pushing up global cannabis prices, particularly in Canada's B2B sector and other export markets like Australia. Despite this boom, Germany's medical cannabis penetration remains low compared to Canada and key U.S. states, suggesting more room for expansion.

Uruguay Expands Adult-Use Cannabis Production to Meet Growing Demand

Uruguay is expanding its adult-use cannabis supply chain, with the government granting production licenses to four new companies: Flores del Plata SAS, Calgrey SAS, Tested SAS,and Turigrow SAS. The move comes as legal cannabis demand has surged, with over 100,000 registered users and a 10% increase in consumption last year.

The Institute for Regulation and Control of Cannabis (IRCCA) cited supply shortages as a key driver of this expansion, acknowledging that existing production was failing to meet consumer needs. The decision aims to reduce reliance on the illicit market while ensuring that registered pharmacies have adequate stock.

A Tale of Two Trumps: Clemency for Some, Death For Others In His Drug Policy Approach

Donald Trump's approach to drug policy continues to send mixed signals. On one hand, he recently appointed Alice Marie Johnson, a former nonviolent drug offender he pardoned, as his "pardon czar." On the other, he has renewed calls for the death penalty for drug dealers, arguing that harsh punishment is necessary to combat crime.

The contrast in policy has sparked debate. Critics argue that while Trump's clemency efforts for select individuals suggest a more lenient stance, his push for extreme penalties contradicts the broader movement toward criminal justice reform. With cannabis and other drug policies in flux, the implications of these positions remain uncertain as the 2024 election looms.

Read all about it here.

Ohio Senate Moves To Cut Home Grow And Add New Penalties

The Ohio Senate has passed a bill that would make sweeping changes to the state's voter-approved marijuana law, including cutting the number of plants adults can grow at home from 12 to six, introducing new criminal penalties and removing select social equity provisions.

Senator Steve Huffman, the bill's sponsor, claimed the legislation aims to “cut down on the illicit marijuana market and protect children.” However, critics argue it undermines the will of Ohio voters, who approved adult-use cannabis legalization in 2023.

The bill now moves to the Ohio House, where its fate remains uncertain. House Speaker Matt Huffman, the senator's cousin, has indicated he is no longer pushing for broad rollbacks of the legalization measure but remains open to targeted revisions.

New Jersey Governor Proposes Cannabis Tax Hike

New Jersey Governor Phil Murphy has proposed raising the state's social equity excise fee on cannabis from $2.50 to $15 per ounce, with the additional revenue earmarked for social service and violence intervention programs.

The tax, paid by cultivators, funds initiatives supporting communities affected by marijuana prohibition. However, Senate President Nicholas Scutari has expressed concerns, arguing that legal cannabis already struggles to compete with the illicit market due to high costs.

Murphy's proposal also seeks to apply the tax to intoxicating hemp products, such as those containing delta-8 and delta-10 THC. If approved, the changes are expected to generate $70 million in new revenue.

New York Rolls Out Cannabis Business Grants

New York regulators are launching a $5 million grant program to support social equity cannabis retailers. The grants, which range from $10,000 to $30,000, will reimburse expenses such as rent, security systems, insurance and inventory tracking.

To qualify, applicants must be part of the state's Conditional Adult-Use Retail Dispensary (CAURD) program, which prioritizes individuals impacted by past marijuana convictions. The program's funding will be distributed on a first come, first serve basis.

The move follows ongoing struggles among CAURD license holders, who have faced delays, high-cost loans, and regulatory challenges. Advocacy groups continue to push for further financial relief and policy reforms to support social equity operators.

Industry Deals And Legal Battles

High Times Intellectual Property Up For Sale—Again

The intellectual property of High Times, including its trademarks, magazine and Cannabis Cup events, is back on the market. Green Life Business Group, the brokerage handling the sale, is accepting bids until March 4, though previous attempts to sell the brand's assets have stalled.

This marks at least the third time High Times' IP has been up for sale since 2023. A previously announced all-stock deal with Lucy Scientific Discovery collapsed and the company has struggled amid financial troubles. Without any cannabis business licenses included in the sale, industry experts predict limited buyer interest.

Adding to the uncertainty, High Times’ website has been down for over a week, and its last Instagram post was in January. While once a dominant force in cannabis culture, the company's future remains uncertain as it attempts another liquidation.

Cookies Wins Nearly $18 Million In Arbitration Dispute

A company operating Cookies-branded marijuana stores has been ordered to pay nearly $18 million in unpaid royalties and for the unauthorized use of the brand's intellectual property.

The ruling, issued by arbitrator David Garcia, stems from a $100 million lawsuit filed by Cookies Retail (a company that’s separate from the original Cookies cannabis brand) against Cookies, the California-based cannabis brand founded by Berner (Gilbert Milam). The arbitration award could increase further if attorney fees are added.

While Cookies Retail may still challenge the ruling, the decision highlights ongoing legal battles in the cannabis industry, where disputes over branding, licensing, and payments have become increasingly common as the market matures.

Casa Verde Capital Leads $3 Million Funding Round For Cannabis Insurance Firm

Snoop Dogg's venture capital firm, Casa Verde Capital, has led a $3 million funding round for Frontier Risk Group, a cannabis-focused insurance provider.

Frontier Risk, which has raised $6 million to date, is developing a "tech-enabled insurance ecosystem" to serve cannabis businesses. The firm has also partnered with Illinois Casualty Co., marking a rare entry of a traditional insurance company into the cannabis sector.

Insurance remains a major challenge for cannabis businesses due to federal prohibition and the lack of standardized coverage options. With support from Casa Verde and its new partners, Frontier Risk aims to fill that gap with tailored underwriting solutions.

Cannabis And Culture: Sports, Celebrity And Events

WWE Reportedly Removes Marijuana From Banned Substances List

WWE has quietly removed marijuana from its list of banned substances, according to wrestler Michin (Mia Yim). Speaking on “The Speakeezy” podcast, she stated that the company eliminated cannabis from its drug testing policy “a couple years ago.”

While WWE has not officially confirmed the change, this shift aligns with broader trends in professional sports. Major leagues like the UFC have already moved away from penalizing athletes for cannabis use, recognizing its medicinal benefits for pain management and recovery.

Historically, WWE fined wrestlers for testing positive for cannabis, with stars like Randy Orton and Jack Swagger among those penalized. If confirmed, this policy change could further normalize cannabis use in mainstream athletics.

Benzinga's Cannabis Market Spotlight: New Jersey Set For March 4

New Jersey's cannabis industry is heating up, and Benzinga's Cannabis Market Spotlight: New Jersey is set to bring together the state's top investors, regulators, and operators on March 4.

With retail expansion, shifting regulations, and ongoing challenges in integrating legacy operators into the legal market, the event will cover critical issues shaping New Jersey's cannabis landscape. Speakers include former NFL player Ricky Williams, NJ Cannabis Regulatory Commission Chair Dianna Houenou, and Verano COO Trip McDermott.

The conference will dive into key topics such as cannabis lounges, investor sentiment, and the transition from illicit to legal markets. As one of the fastest-growing cannabis states on the East Coast, New Jersey remains a key market to watch in 2025.

Stock Market And Investment Trends

Canopy Growth Establishes $200 Million At-The-Market Equity Program

Canopy Growth Corporation CGC has launched a new at-the-market (ATM) equity program, allowing it to sell up to $200 million in common shares to raise capital. The company plans to use the proceeds for potential acquisitions, general corporate expenses and debt repayment, including a $100 million prepayment under its existing credit agreement.

The move comes as Canopy continues to restructure its operations in response to financial challenges. While the ATM program provides flexibility, share dilution remains a risk for existing investors. Canopy's stock was down 1.08% in after-hours trading on Friday following the announcement.

Jushi CEO James Cacioppo Increases Stake in Company

James Cacioppo, CEO and founder of Jushi Holdings Inc. JUSHF, has secured a warrant to purchase between 5.58 million and 6.2 million shares of the company as part of a private offering. The transaction, which includes a $3.72 million second lien promissory note, could increase Cacioppo's ownership stake to nearly 20% if fully exercised.

The warrant's exercise price will be set at a 50% premium to Jushi's 20-day volume-weighted average price following the filing of its 2024 annual report, with a minimum price of $0.45 and a maximum of $0.50 per share. While this reflects confidence from the company's leadership, the impact on shareholder value will depend on Jushi's financial performance and broader market conditions.

Cannabis Stocks Rally On Strong Earnings

Several cannabis stocks saw gains following their latest earnings reports. Cronos Group CRON, Verano Holdings VRNOF, Trulieve Cannabis Corp. and Green Thumb Industries GTBIF all traded higher after reporting results that highlighted cost-cutting measures and strategic expansion plans.

Cronos reported a 26.7% year-over-year revenue increase, driven by strong cannabis flower and extract sales in Canada and select international markets. Trulieve posted revenue of $301 million, exceeding expectations and reinforcing its dominant position in Florida's medical cannabis sector.

Verano, while reporting a slight revenue decline, emphasized new dispensary openings in key markets like Ohio, Maryland, and New Jersey as growth drivers. Green Thumb's earnings showed a 6% revenue increase, fueled by store expansions and strong consumer demand.

While regulatory uncertainty remains a headwind, companies that can maintain operational efficiency and expand into high-growth markets appear to be in a strong position moving forward.