From the halls of Congress to the streets of New York, cannabis news bloomed in every direction this week. Slovenia introduced what may become Europe's most progressive medical cannabis law. U.S. lawmakers filed new federal reform legislation. Trulieve and Curaleaf took diverging paths in Florida. And Governor Ron DeSantis faces questions over whether public funds were funneled into anti-cannabis campaigns.
Elsewhere, Weedmaps dropped a custom sneaker collab, Swatch’s 4/20-friendly watch returned to the spotlight and a massive new cancer study delivered groundbreaking validation for medical cannabis. Avicanna posted record earnings, Minnesota crossed a regulatory milestone and Blue Violets made delivery history in New Jersey.
Here's everything you need to know.
Avicanna Reports Record Year
Avicanna Inc. (TSX:AVCN) (OTCQX:AVCNF) reported audited financial results for 2024, including $25.5 million in revenue—a 52% increase over 2023—and gross profits of $12.9 million, up 94%. Consolidated gross margins improved to 51%, while adjusted EBITDA losses narrowed by 68% to $1.4 million. The company also repaid $1.3 million in debt.
CEO Aras Azadian called 2024 "our most successful year to date," citing clinical innovation, international expansion, and commercial growth in Canada and abroad.
Key 2024 milestones include:
Read the full story here.
Tilray Plans Reverse Stock Split
Tilray Brands (NASDAQ:TLRY) will hold a special shareholder meeting on June 10 to vote on a proposed reverse stock split ranging from 1-for-10 to 1-for-20. CEO Irwin Simon said the move aims to maintain Nasdaq compliance, reduce costs by more than $1 million per year, and attract institutional investors. The company recently reported over $248 million in cash and trimmed debt by $76 million.
Read more on Benzinga
Safe Harbor and FundCanna Join Forces
SHF Holdings, d/b/a Safe Harbor Financial (NASDAQ:SHFS), announced a strategic partnership with FundCanna to provide cannabis operators with streamlined access to capital and compliant banking services. The agreement enables mutual referrals and onboarding of FundCanna-approved clients into Safe Harbor-managed accounts.
"This partnership delivers a practical, scalable solution that puts the financial needs of cannabis operators first," said Safe Harbor CEO Terry Mendez.
Congress Reintroduces STATES 2.0 Act
A bipartisan group of U.S. lawmakers reintroduced the STATES 2.0 Act, which would shield legal cannabis activity from federal interference. The bill would also legalize interstate commerce, normalize IRS treatment of cannabis businesses and establish a framework for federal oversight and testing.
"The current federal approach to cannabis policy is not working," said Rep. Dave Joyce (R-OH), co-chair of the Congressional Cannabis Caucus. "The STATES 2.0 Act creates a more logical approach that protects states' rights while improving public safety."
The bill maintains FDA oversight for cannabis products, removes barriers to tax deductions under Section 280E, and instructs federal agencies to begin rulemaking within 180 days of passage. Supporters include Reps. Max Miller (R-OH), Dina Titus (D-NV) and a coalition of advocacy organizations including CPEAR, Americans for Prosperity, and the U.S. Cannabis Roundtable.
Read more via Marijuana Moment
Minnesota Finalizes Adult-Use Cannabis Rules
The Minnesota Office of Cannabis Management (OCM) announced that final adult-use rules were published in the State Register and are now in effect. With this step completed, OCM can begin issuing business licenses to qualifying applicants, including more than 600 social equity applicants already advanced through preapproval.
"We are continuing to prioritize social equity in every stage of licensing," said Jess Jackson, OCM's director of social equity. Licenses for capped categories such as cultivator and retailer will be awarded via lottery later this summer, while uncapped license types will be distributed on a rolling basis.
Details available on the OCM Rulemaking page
Slovenia Unveils Progressive Medical Cannabis Law
Slovenia's Parliament introduced sweeping medical cannabis reforms that would legalize the cultivation, production and distribution of cannabis for medical and scientific use. The bill eliminates public tenders, allows open licensing for private companies and removes cannabis and THC from the country's prohibited drugs list—so long as products meet GACP, GMP and European Pharmacopeia standards.
Cannabis will be available via standard medical or veterinary prescriptions, and patient access is guaranteed through pharmacies, licensed distributors and healthcare providers.
The legislation follows a 2024 referendum in which 66.7% of voters supported cannabis cultivation and legalization for medical use. According to ICBC, the new framework would position Slovenia as having the most advanced medical cannabis law in Europe.
Full article via ICBC
DeSantis Faces Scrutiny Over Anti-Cannabis Funding
A Miami Herald investigation revealed that the DeSantis administration steered $10 million from a legal Medicaid settlement to a charity led by Florida First Lady Casey DeSantis. That charity then gave $5 million each to two organizations backing a political committee that opposed Amendment 3, the failed 2024 initiative to legalize adult-use cannabis in Florida.
The money flowed from the Hope Florida Foundation to Secure Florida's Future and Save Our Society from Drugs, which then routed millions to Keep Florida Clean, a DeSantis-aligned committee. Republican lawmakers are now demanding records and investigating whether public funds were improperly used to fight cannabis legalization.
Full investigation by the Miami Herald
Carmelo Anthony Launches STAYME7O In New York
Carmelo Anthony has entered the New York cannabis market with STAYME7O, a premium cannabis brand launched in partnership with Grand National, the creative agency he co-founded with Jesce Horton and Brandon Drew Jordan Pierce. The product line features curated flower cultivated by Oregon-based LOWD, with an emphasis on sustainability and unique genetics.
"This isn't just about cannabis—it's about empowering our communities," Anthony said. A portion of proceeds will support NuProject and the Last Prisoner Project, continuing the brand's focus on economic equity and justice reform.
Full story on Benzinga
Curaleaf Turns Dispensary Into Hemp Shop
Curaleaf (OTC:CURLF) has converted one of its medical dispensaries in West Palm Beach into a hemp-focused retail store called The Hemp Company. The location will offer Farm Bill-compliant THC products from Curaleaf brands and partners like 1906 and Cann.
The move comes as Curaleaf distances itself from Florida's stalled adult-use push and signals short-term interest in the rapidly growing hemp-derived THC segment.
Trulieve Invests $19.6M To Revive Legalization Push
Trulieve (OTC:TCNNF) contributed $19.6 million to Smart & Safe Florida to support another attempt at adult-use legalization in 2026. That's in addition to the $145 million the company spent on the failed 2024 initiative.
So far, only 150,804 signatures have been verified out of the 880,062 needed to qualify for the next ballot, raising questions about whether other operators will step in to help fund the campaign.
Herbwell Cannabis Targets Manhattan's Elite
Herbwell, a national cannabis chain, is opening a luxury dispensary at 519 Madison Avenue—possibly the only one of its kind on the high-end Manhattan corridor. The shop promises a curated experience for both seasoned users and curious first-timers.
"We've built a gorgeous dispensary that fits in on Madison Avenue," said CEO Arish Halani. "One day we'll be doing collabs with the biggest brands in the world."
The brand is also planning to open a cannabis club in the building's upper floors, including a rooftop lounge overlooking Midtown, pending future regulations.
New Jersey's First E-Bike Weed Delivery
Hoboken dispensary Blue Violets has launched New Jersey's first cannabis delivery service by e-bike, in partnership with delivery tech company Priscotty. The program is live in Hoboken and parts of Jersey City and Weehawken.
"We want to reach our customers when they can't make their way to the store—but in a way that makes sense," said Lauren Thompson, co-owner of Blue Violets.
Mike Tyson Becomes CEO Of Carma HoldCo
Boxing legend Mike Tyson has taken the reins as CEO of Carma HoldCo, the company behind TYSON 2.0, Ric Flair Drip, Evol by Future and Wooooo! Energy. The move marks Tyson's shift from brand ambassador to active executive, steering a portfolio built on cultural storytelling and celebrity power.
"This isn't just a title—it's a responsibility I take seriously," Tyson said. Under his leadership, Carma plans to double down on authenticity, community engagement and global expansion.
Read the full story on Benzinga
Weedmaps Drops 420 1's Sneaker Collab With CEEZE
In one of the most buzzworthy 4/20 drops of the year, Weedmaps and custom sneaker studio CEEZE released the limited-edition "420 1's." Each of the 420 pairs is individually numbered, housed in an acrylic box with LED lighting and linked to a microsite via QR code.
The Friends & Family version even includes GPS coordinates pointing to the historic San Francisco Cannabis Buyers Club. A sweepstakes is running through April 20, offering 20 pairs and one VIP trip to Spannabis.
Details and entry here
Swatch's 4/20 Watch Gets a Second Life
Swatch's "Up In Smoke" watch from 2024 has found new life this April. With minty green hues, smoke-dial graphics and a laid-back BIOCERAMIC case, the piece fits right into the 4/20 aesthetic. Originally part of the BIG BOLD collection, the watch has quietly become a seasonal flex for cannabis aficionados.
Read the full feature on Benzinga
Dreka Gates, Tiffany Haddish And Chamath Sound Off
Cannabis was also front and center in this week's cultural commentary. Highlights include:
Landmark Study Confirms Cannabis Benefits for Cancer Patients
In what may be the most comprehensive review of its kind, Cancer Playbook and the Whole Health Oncology Institute published a meta-analysis of over 10,000 peer-reviewed studies on medical cannabis and cancer. The result: a 3-to-1 scientific consensus in favor of cannabis for treating cancer-related symptoms, including inflammation, metastasis, appetite loss and pain.
"We expected controversy. What we found was overwhelming scientific consensus," said Ryan Castle, WHOI's head of research.
The study also incorporated patient-reported outcomes to highlight real-world effectiveness—marking a shift toward more holistic, experience-driven research models. Findings from this report were submitted to the DEA as part of the case for rescheduling cannabis.
Link to the full Benzinga article
Israel Slaps 165% Tariffs on Canadian Cannabis
In a dramatic turn, Israel's Ministry of Economy announced it will impose tariffs of up to 165% on Canadian cannabis imports for the next four years. The decision—pending approval by the Knesset Finance Committee—carves out exceptions for select producers like Decibel (12%), Village Farms (28%), Organigram (53%) and Tilray (70%).
The move signals a potential realignment of the global cannabis trade, with implications for both exporters and Israeli medical patients.
More via StratCann
That’s it for this week. See you next Friday!
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