Jan 10 2025

Tilray Brands Reports Q2 2025 Financial Results, With 29% Year-Over-Year Gross Profit Increase

Tilray Brands, Inc., a global lifestyle and consumer packaged goods company that’s “leading the forefront of beverage, cannabis and wellness industries”, today reported financial results for its second quarter ended November 30, 2024.

Tilray has reported significant financial growth in the second quarter, with gross profit rising 29% year-over-year to $61 million and net revenue reaching a record $211 million, marking 9% growth overall and 10% in constant currency. The company saw a 36% increase in beverage revenue, a 25% boost in international cannabis sales, and a 13% gain in its wellness segment. Additionally, Tilray announced “Project 420,” a $25 million synergy plan aimed at enhancing its beverage business.

Irwin D. Simon, Chairman and Chief Executive Officer of Tilray Brands, stated, “In our fiscal second quarter, Tilray achieved strong results while making significant progress on our strategic plan. Our dedication to operational excellence has improved Gross Margins, Gross Profit, and overall profitability across our business segments, positioning us favorably for future success.”
Continue reading

Jan 10 2025

DoorDash Announces it Now Delivers CBD and THC Products in Select States

DoorDash now offers hemp-derived THC and CBD products for on-demand delivery in select states, giving customers of legal age more products to enjoy while they relax and recharge.

Eligible customers can now order a variety of hemp-derived THC and CBD products from merchants like DashMart – a fulfillment platform and store from DoorDash offering businesses a new channel to reach customers locally – Total Wine & More, ABC Fine Wine & Spirits, and more directly to their door to enjoy along with their favorite meals, snacks, and other essentials.

“With the growing demand for hemp-derived THC and CBD products, we’re excited to expand access to a wide selection of products consumers crave,” said Jacob Morello, Director, GM of Alcohol and Emerging Categories at DoorDash. “As preferences evolve, DoorDash can now help eligible customers find new products to safely enjoy while they unwind and recharge in the new year.”
Continue reading

Jan 10 2025

Montana Marijuana Sales Reach $26.7 Million in December, Bringing 2024 Total to $336 Million

Montana’s marijuana market ended 2024 on a strong note, with over $26 million in total sales recorded in December.

The Montana Department of Revenue reported that December sales included $23,157,172 in recreational marijuana and $3,535,860 in medical marijuana, combining for a total of $26,693,032. Sales figures encompass dried marijuana along with various marijuana products, including edibles, concentrates, prerolls, and topicals.

The year-to-date total for 2024 now stands at approximately $336 million, resulting in nearly $60 million in tax revenue, while all-time sales in the state have reached $947,002,982.
Continue reading

Jan 10 2025

Michigan Marijuana Sales Pass $3 Billion in 2024, All-Time Total Passes $11.8 Billion

In December, marijuana and marijuana products generated $265,504,958.67 in sales in Michigan, according to data from the state’s Cannabis Regulatory Agency (CRA).

Recreational marijuana accounted for the overwhelming majority of sales, totaling $264,689,198.93, while medical marijuana brought in $815,759.74. These figures bring the state’s year-to-date total to approximately $3.1 billion.

The all-time total for recreational sales has now reached $10,218,680,807.17, reflecting the continued growth of Michigan’s legal marijuana market. The average price for an ounce of recreational marijuana hit a new low of $69.20 in December.
Continue reading

Jan 09 2025

Illinois Approves Four New Medical Marijuana Conditions: Female Orgasmic Disorder, Endometriosis, Uterine Fibroids and Ovarian Cysts

The Illinois Department of Public Health (IDPH) has approved four conditions to be added to the list of medical issues that may be treated with medical cannabis.

The four newly approved conditions are endometriosis, ovarian cysts, uterine fibroids, and female orgasmic disorder. The approval by IDPH Director, Dr. Sameer Vohra, comes following a thorough review by the Medical Cannabis Advisory Board (MCAB) and IDPH staff.

Under Illinois law, the Director reviews petition requests to add conditions to the approved list. The Director considers available scientific analysis and medical literature to determine whether medical cannabis would be an appropriate treatment for each condition.
Continue reading

Jan 09 2025

Minnesota Public Comment Period on Proposed Cannabis Industry Rules Starts Monday, January 13

The Minnesota Office of Cannabis Management (OCM) will officially open a public comment period on January 13 for proposed expedited rules shaping the state’s newly legalized marijuana industry.

The proposed rules will be published in the State Register that day, with a PDF version available for public review on the OCM website.

Members of the public will have until 4:30 p.m. CST on February 12 to submit their input. Comments can be submitted online via the Office of Administrative Hearings (OAH) website, through U.S. mail to 600 North Robert Street, P.O. Box 64620, St. Paul, Minnesota 55164-0620, or by fax to 651-539-0310. Instructions for submitting online comments are detailed on the OAH website.
Continue reading

Jan 09 2025

States With the Harshest Marijuana Possession Laws

Recreational marijuana has been legalized in 24 states, with medical marijuana authorized in 39 states. However, some states continue to enforce harsh and archaic marijuana laws.

Among the 26 states that haven’t legalized recreational marijuana, how each handles their marijuana possession laws varies drastically. Some impose a simple fine, similar to a traffic ticket, while others include months or years of jailtime for possessing even small amounts.

With that in mind, listed below are the states with the harshest marijuana laws.
Continue reading

Jan 09 2025

Study Finds Marijuana Legalization Not Linked to Increased Workplace Cannabis Use

Marijuana legalization does not correlate with an increase in employees using cannabis before or during work, according to a briefing paper from the Institute for Work & Health (IWH), a non-profit research organization.

The study examined workers’ attitudes and behaviors in Canada following the legalization of adult-use marijuana in 2018. Researchers found no change in the rates of cannabis consumption among employees either prior to or during work hours during the surveyed period.

“IWH research found no post-legalization increase in self-reported cannabis use during or before work”, states the paper. Authors emphasized the importance of distinguishing between cannabis use off-duty and use during work, saying “Rather than considering any cannabis use as an occupational safety risk, workplaces need to reframe their focus to use that is likely to lead to impairment at work and craft policies that center on preventing and managing impairment, as well as fitness for duty.”
Continue reading

Jan 09 2025

Newly Filed Indiana Bill Would Decriminalize Marijuana Possession

A new bill introduced in Indiana would decriminalize the possession of two ounces or less of marijuana.

House Bill 1145, sponsored by Republican State Representative Heath VanNatter and filed yesterday, would remove criminal penalties for the possession of up to two ounces of marijuana, for those 21 and older. This would mark a significant shift from current state law, with the possession of any amount of marijuana a misdemeanor punishable by up to 180 days in jail.

The legislation, which has been referred to the Committee on Courts and Criminal Code would maintain current penalties for marijuana cultivation and possession of larger quantities. If the measure were to be approved by the House and Senate and signed into law by Governor Mike Brain, the proposed changes would take effect on July 1, 2025,
Continue reading

Jan 08 2025

Ohio: $19.2 Million in Legal Marijuana Sold Between December 29 and January 4

There was nearly $20 million worth of marijuana and marijuana products sold between December 29 and January 4 in Ohio.

Data released today by the Ohio Division of Cannabis Control (DCC) shows that there was $13,158,129 in recreational marijuana sold during the week that cover New Year’s, in addition to $6,116,501 in medical marijuana sold. The combined $19,274,630 brings the total since the start of recreational marijuana sales on August 7 to $397,777,981.

According to the DCC, there was 57,272 pounds of marijuana sold since August 7, and nearly five million total transactions.
Continue reading