💸 The Tape

Nebraska’s medical cannabis rollout just dodged a legal bullet. Think of it as a stock that nearly got halted at the open but now trades on uninterrupted. On Wednesday, a district judge effectively told opponents, “Not so fast,” denying their plea to stop the new medical marijuana statutes from taking root. Translation: the governor gets to ink the final approvals, clearing the way for Nebraska to become the 39th state with some form of legal medical cannabis access.

From a market perspective, consider this a regulatory green light. Voters clearly placed their bets on these two ballot initiatives back in November, endorsing them with healthy majorities. Picture these initiatives as two new product lines: one authorizes patients with proper documentation to purchase up to five ounces of medical cannabis, while the other sets up a fresh commission to oversee the entire operation. Sure, critics claim this structure is more “backroom boardroom” than “transparent public company,” but the majority of shareholders—I mean, voters—don’t seem bothered.

Opponents, led by a former state senator and longtime cannabis critic, tried to argue that federal laws and constitutional considerations should slam the brakes. They also took issue with what they see as a regulatory microcosm sprouting inside the state’s government. In their eyes, it’s an unlisted startup wielding too much power. But the judge wasn’t buying it. No imminent and irreparable harm? No injunction. Public interest? Not swayed.

The governor, now on a legal clock to sign off before a looming deadline, won’t have much wiggle room. Delay tactics are off the table—he’s mandated to follow the voters’ instructions in a timely fashion. Given that his predecessor processed similar ballot initiatives faster than a speedy IPO, no one’s expecting foot-dragging this time around.

Although the broader lawsuit challenging the entire cannabis framework is still grinding through the courts, this initial defeat for the opposition means patients in Nebraska’s are one step closer to legal medical cannabis. The Legislature might tinker with the rules later, but that would require a supermajority—akin to a shareholder vote with an extremely high threshold.

For now, industry watchers can view Nebraska’s budding medical cannabis market as a newly listed security that just passed its first regulatory hurdle. Sure, further legal battles remain on the calendar. Still, the market seems poised to move forward, and those who voted to join the nation’s medical cannabis club have signaled they want growth, not delays.

📈 Dog Walkers

$CBSTF Expands Brand Portfolio

The Cannabist Company’s latest move is delivering a bedtime buddy for cannabis consumers who crave more than just a quick fix. Enter dreamt, a sleek new brand rolling into Maryland with future expansions in 2025. While competitors jockey for shelf space, dreamt’s formula does the talking: meticulously balanced THC and CBD, plus calming extras like GABA and valerian root. The idea? To transform your restless tossing and turning into sweet, restorative slumber. According to President Jesse Channon, everybody deserves a solid eight hours, and these gummies promise to deliver on that front. VP Blake Brower highlights the Company’s high-tech production capabilities, ensuring a consistent, dreamy experience. Expect these 5mg THC gummies, perfectly dosed with CBD and CBN, to become the talk of discerning nighttime connoisseurs.

Missouri Is A Healthy Market….. Go Figure

Missouri’s cannabis market just charted new heights, lighting up November 2024 with record monthly and daily sales. With total monthly earnings topping $128 million and a daily average cruising at $4.27 million, the Show-Me State isn’t just showing off—it’s setting the standard. Recreational shoppers did the heavy lifting, grabbing $113 million worth of product, while medical buyers held steady with a respectable $15 million. These figures have now pushed 2024’s haul beyond $1.33 billion, and lifetime sales past a mind-boggling $3.27 billion. Consistent triple-digit millions from adult-use since early 2024 underline just how baked-in this demand really is. Toss in the upcoming microbusiness licenses—bringing local flavor and fresh ideas to the mix—and it’s clear: Missouri’s green boom is more than a puff of smoke.

Tilray Is Getting In The Game

Tilray Brands is shaking up the beverage scene—minus the hangover. With the launch of Herb & Bloom, the cannabis giant is mixing style, sophistication, and a spirited twist on old classics. Rather than serving up boozy regrets, these non-alcoholic sips rely on a gentle 5mg of hemp-derived Delta-9 THC. Herb & Bloom doesn’t just tantalize the palate; it’s a nod to the golden era of cocktails, offering artful packaging and on-trend flavors. Think a Non-Alcoholic Margarita with citrusy brightness, a Strawberry Daiquiri rich in fruit-forward flair, and a Peach Bellini that practically purrs “brunch time.” The result? A frothy, elevated indulgence that lets you toast good times while keeping a clear head. With future 10mg options on the horizon, investors might raise a glass to Tilray’s tasteful innovation.

🗞️ The News

Tilray Alternative Beverages Unveils HERB & BLOOM: A Cutting-Edge Era of Hemp-Derived Delta-9 THC Beverages

Thousands of Kansans are Missouri medical marijuana patients

House Passes Defense Bill That Omits Provisions To Prevent Marijuana Testing For Military Recruits

The Cannabist Company Launches dreamt Brand, to Maryland Market

📺 YouTube

Schumer Blames Republicans For Stalling Cannabis SAFE Banking | Trade to Black

What we covered:

✅ On our latest Trade To Black Podcast, hosts Shadd Dales and Anthony Varrell will break down the latest in the cannabis industry:

The New York Office of Cannabis Management held a Control Board Meeting today, highlighting the state's strong growth in adult-use sales. Sales are on track to reach $1 billion in 2024, driven by more stores and fewer unlicensed operations. Medical marijuana companies, many of which are publicly-held MSOs, contribute significantly to this growth.

Republican House and Senate leadership blocked Senate Majority Leader Chuck Schumer’s attempt to include the SAFER Banking Act in a government funding bill. Despite Schumer's efforts, opposition from Senate Minority Leader Mitch McConnell and House Speaker Mike Johnson has stalled progress. Schumer remains committed to moving the cannabis banking legislation forward, but challenges persist.

A new lawsuit in Nebraska seeks to void successful 2024 ballot measures to legalize and regulate medical cannabis. The lawsuit argues that state-level marijuana laws are unconstitutional. The outcome could have ripple effects on cannabis laws in other states.

Plus, cannabis advisor Seth Yakatan joins us for insights on Verano Holdings based on questions he's received on whether Verano Holdings (OTC: VRNOF) is cheap for investors to buy right now.