💸 The Tape

A comprehensive new government-funded study from Canada has delivered a stark, data-driven verdict: alcohol and tobacco cause far more harm to users and society than cannabis does, even when factoring in the ongoing illegal market.

Published in the Journal of Psychopharmacology, the research convened 20 experts with deep experience in substance use issues. They evaluated 16 drugs across 10 dimensions of harm to users (e.g., physical damage, dependence, mental impairment) and six dimensions of harm to others (e.g., injury, family adversity, economic cost), scoring each on a 0–100 scale.

Alcohol topped the list with a cumulative weighted score of 79 — the highest overall harm ranking. Tobacco followed at 45. Nonprescription opioids scored 33, cocaine and methamphetamine 19 each, and cannabis landed at just 15 — placing it near the bottom of the harm spectrum.

The study’s authors were clear: “Alcohol causes the most harm overall… It was followed by tobacco, nonprescription opioids (like fentanyl), cocaine, methamphetamine, and cannabis.” Alcohol ranked first in nine of the 16 harm categories, including drug-related mortality, physical health damage, dependence, withdrawal, mental impairment (short- and long-term), loss of tangibles/relationships, injury, family/social adversity, and economic cost. Tobacco led in four: mortality, physical damage, dependence, and environmental harm.

Cannabis’s highest score came not from direct user harm but from organized criminal activity tied to the remaining illegal market. The authors noted that more than 70% of Canadians now purchase cannabis legally, yet criminal groups still dominate the illicit segment. When it came to direct harms to users, cannabis ranked third in mental health-related categories (dependence, withdrawal, short- and long-term impairment) — but still far below alcohol.

The findings carry weight because they reflect expert consensus rather than advocacy. The panel included academics and professionals from multiple institutions across Canada, the UK, and New Zealand. The research was supported by a grant from the Canadian Institutes of Health Research.

These results align with a growing body of evidence challenging the federal Schedule I classification of cannabis in the United States. Schedule I status — reserved for substances with “no currently accepted medical use” and “high potential for abuse” — has long been criticized as outdated given the thousands of peer-reviewed studies demonstrating medical utility and relative safety compared to alcohol and tobacco.

The study’s conclusions also echo real-world trends. Youth cannabis use has declined for decades — even as legalization spread across states and Canada — according to Monitoring the Future data acknowledged by the DEA itself. Meanwhile, adults increasingly substitute cannabis for alcohol and tobacco. Surveys show younger Americans prefer THC beverages over booze for social occasions, and a majority now view marijuana as a “healthier option” than alcohol. Internationally, legal medical cannabis sales correlate with reduced tobacco use.

As the Trump administration considers rescheduling cannabis from Schedule I to III, this Canadian analysis adds powerful ammunition. A Schedule III move would recognize accepted medical use and lower abuse potential — aligning federal policy with the evidence. It would also eliminate Section 280E tax penalties that cripple legal operators, unlock banking access, and expand research.

The Supreme Court, currently weighing related cases on gun rights and constitutional challenges to 280E, may not wait for administrative action. Lower courts have already demanded individualized assessments rather than blanket prohibitions, and scientific validation continues to erode the rationale for Schedule I.

The Canadian study’s authors close with a policy call: governments should weigh the actual harms of drugs — and the harms caused by the laws regulating them — when shaping policy. Alcohol and tobacco, both federally legal and deeply embedded in society, cause exponentially more damage yet face far fewer restrictions than cannabis.

For an industry still waiting on federal reform, the message is unmistakable: the science increasingly supports what millions of Americans already know — cannabis is not the societal menace it was once painted to be. Alcohol and tobacco remain the far greater threats. The longer Schedule I lingers, the more disconnected federal policy becomes from evidence, public health, and common sense.

Source: Marijuana Moment

📈 Dog Walkers

$BLOZF ( ▼ 0.19% ) Ships Product

Cannabix Technologies Inc. (CSE: BLO) (OTCID: BLOZF) (Frankfurt: 8CT) has achieved a significant commercialization milestone with the first sale of its Marijuana Breath Test (MBT) products into the construction industry.

The buyer — a large regional contractor in the Pacific Northwest engaged in industrial, civil, and commercial construction — purchased the MBT through an authorized reseller. The company sought a next-generation tool to strengthen workplace safety protocols by accurately assessing recent cannabis use among its workforce.

Construction remains one of the highest-risk industries for workplace injuries in the U.S., a risk potentially heightened by increasing cannabis use. Traditional testing methods (urine, saliva, hair) detect historical use — often days or weeks after consumption — offering limited correlation to active impairment. This creates legal, labor-relations, and safety challenges in states where cannabis is legal for medical or recreational use.

The Cannabix MBT addresses this gap directly. It detects delta-9 THC in breath within approximately four hours of use at levels above 5 pg/L — a window that aligns closely with impairment-relevant timeframes. The system includes a proprietary Breath Collection Unit (BCU) and single-use Breath Cartridges, with samples analyzed using gold-standard liquid chromatography-mass spectrometry (LC-MS) at Omega Laboratories, Cannabix’s strategic partner and a global leader in forensic drug testing.

CEO Rav Mlait emphasized the significance: “As cannabis use continues to expand across the United States, safety-sensitive industries are struggling with outdated drug testing methods that do not reflect real-world workplace needs. Our Marijuana Breath Test provides a modern, scientifically grounded way to identify recent cannabis use in a fair and non-invasive manner. This first commercial delivery to a major construction contractor is an important milestone that supports safer operations and more informed decision-making.”

The construction sector, characterized by high workforce volumes, heavy equipment operation, and strict safety mandates, represents a natural near-term market for the MBT. Employers in transportation, logistics, warehousing, and manufacturing face similar challenges and are seeking defensible, impairment-relevant tools that respect lawful off-duty use.

Cannabix continues to advance production capabilities and work with resellers to scale availability. The MBT positions the company as a pioneer in breath-based recent-use detection — a category that could become the new standard for safety-sensitive workplaces.

With this first commercial placement, Cannabix has moved from development to real-world application. The sale validates years of scientific and engineering work and opens the door to broader adoption across high-risk industries. As federal and state policies evolve, tools like the MBT that focus on recent use rather than historical exposure may help bridge the gap between legalization and workplace safety.

$TLRY ( ▼ 1.04% ) Expands Down Under

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY) continues to double down on its international medical cannabis strategy with the announcement of its most significant portfolio expansion in Australia to date.

Tilray Medical — the company’s dedicated medical division and a recognized global leader in pharmaceutical-grade cannabis — revealed plans to broaden its Australian offering through new products under the Redecan and Good Supply brands. The rollout, set to unfold over the coming months, will introduce medical cannabis flower, extracts, vapes, and pastilles under Redecan, alongside new high-potency flower options from Good Supply.

Rajnish Ohri, President of International at Tilray Brands, underscored the strategic importance: “Australia represents an important strategic market within our international growth strategy. This launch reflects our long-term commitment to delivering quality, differentiated cannabis products.”

The expansion builds on years of established presence in Australia, where Tilray Medical has supplied EU-GMP certified medical cannabis through trusted prescriber, pharmacy, and clinical distribution channels. With demand rising across the country’s regulated medical system, the scaled portfolio aims to meet evolving patient and prescriber needs while reinforcing Tilray’s reputation for consistent, clinically supported products.

Australia’s medical cannabis market has matured rapidly since legalization, with increasing approvals, broader prescriber adoption, and growing acceptance of diverse formats beyond traditional flower. Tilray’s move aligns perfectly with this shift, offering healthcare professionals and patients more treatment options backed by rigorous quality standards and proven genetics.

The announcement also highlights Tilray Medical’s global leadership. The division supplies regulated medical markets across Europe, North America, and now a deeper presence in Australia. Through ongoing investment in education, product stewardship, and compliant supply pathways, Tilray Medical remains focused on safe, reliable access worldwide.

For Tilray Brands, the portfolio expansion strengthens its international medical segment — a key pillar of its diversified growth strategy. While adult-use cannabis remains the headline driver in many markets, medical cannabis offers stable, long-term revenue potential with less volatility and greater regulatory predictability.

This latest step in Australia reinforces Tilray’s position as a serious, global-scale player committed to medical cannabis innovation and patient access. With new formats and brands rolling out, Australian prescribers and patients will soon have more clinically supported options to choose from — all backed by one of the industry’s most established medical supply chains.

In a market where consistency and quality matter most, Tilray Medical’s expanded offering is a clear vote of confidence in Australia’s continued growth as a mature, regulated medical cannabis destination.

🗞️ The News

📺 YouTube

Capital Discipline: Navigating VA's Adult-Use Shift w/out Over-Leveraging | TTB Presented by Flowhub

What we will cover:

✅ In this episode of the Trade to Black presented by Flowhub, host Anthony Varrell (@V_arrell) interviews Adam Stettner, CEO of FundCanna, the leading cannabis financing platform offering fast, flexible loans and working capital to operators nationwide. With Virginia's adult-use cannabis sales set to launch January 1, 2027—following recent legislative approval and expected Gov. Spanberger signature—the Commonwealth is on the cusp of a major transition from possession-only to full retail legalization. Adam and Anthony unpack critical lessons from past state rollouts (Illinois, Massachusetts, Michigan, California) to help Virginia businesses avoid common—and expensive—mistakes.

The discussion centers on why execution risk in the first 12–36 months often outweighs the legalization itself. Operators who chase adult-use as an instant revenue surge frequently over-allocate capital and scale too aggressively, facing prolonged cash burn and delayed inflows. Successful transitions have been led by disciplined players who prioritize risk management, margin protection, supply chain stability, and liquidity over rapid top-line growth. They highlight regulatory realities: most markets endure longer-than-expected timelines, licensing delays, zoning conflicts, phased launches, and uneven competition. License imbalances can distort the market—over-issuing retail relative to cultivation risks shortages, while excess cultivation commonly triggers price compression and inventory overhang.