💸 The Tape

A top Pennsylvania Democrat says the Commonwealth is “leaving money on the table” by refusing to legalize adult-use marijuana—but whether the state will finally act now rests with the GOP-controlled Senate, where hesitation remains firmly entrenched.

In interviews with PoliticsPA, Rep. Jordan Harris (D), chair of the House Appropriations Committee, stressed that the House has already passed a legalization framework aligned with the governor’s budget proposal. Meanwhile, Pennsylvanians continue driving across the river to New Jersey, whose retailers—Harris jokes—are “very happy” about Pennsylvania’s political paralysis.

“We need to do it,” Harris said, adding that cannabis reform is a long-standing House priority and a sorely needed revenue generator. But the House must now wait for the Senate to “move on our bill or send us their own.”

Over in the Senate, Appropriations Chair Scott Martin (R) threw cold water on near-term prospects, citing “significant concerns” around impaired-driving tests, youth protections, workplace safety, even Second Amendment considerations. Martin also pointed to the ongoing federal debate over cannabis’s Schedule I classification, asking why Pennsylvania should leap before Washington lands on a decision.

Still, Democratic champions—Dan Frankel, Rick Krajewski, Emily Kinkead, and Sharif Street—say there remains a viable path to legalization in 2026, even though it was left out of this year’s final budget deal. They note growing public support, bipartisan interest, and Senate momentum around creating a new cannabis regulatory body, which could ultimately oversee a future adult-use market.

In short: legalization isn’t dead in Pennsylvania—but it’s definitely waiting on the Senate.

Source: Marijuana Moment

📈 Dog Walkers

$GRUSF ( ▲ 0.66% ) Coming To Minnesota

Grown Rogue International Inc. (CSE: GRIN, OTC: GRUSF) is staking out a major foothold in Minnesota’s upcoming adult-use cannabis market, announcing a long-term lease for a 109,000-square-foot cultivation facility in Fridley, part of the greater Minneapolis metro area. The building—purchased by Rainbow WBSE MN LLC for roughly $75 per square foot—will be leased to Grown Rogue at a base rate of $0.73 per square foot per month, a cost the company calls strategically attractive for long-term operations.

The site has already secured a conditional use permit for cultivation and will support a phased build-out of up to 30,000 square feet of flower canopy, the maximum allowed for indoor grows in Minnesota. Phase I, covering 10,000 square feet, is slated to begin construction in early 2026, with first harvests expected in early 2027.

Leasing partners Rainbow Realty Group and WBSE praised Grown Rogue’s reputation as a disciplined, low-cost craft grower, while CEO Obie Strickler emphasized the facility’s scalability, ample power, and affordability. Funding most tenant improvements from the company’s own balance sheet, he said, will help ensure Grown Rogue remains a low-cost producer as the Minnesota market develops.

The project is being advanced in partnership with license holder Christian Stiers, Grown Rogue’s National Cultivation Director, with definitive agreements—including a sublease and management services agreement—executed on December 5, 2025, pending regulatory approval.

For Grown Rogue, the deal represents the company’s first tangible milestone in Minnesota—and potentially its largest canopy footprint yet.

$CRON ( 0.0% ) Makes Major EU Acquisition

Cronos Group Inc. (NASDAQ: CRON, TSX: CRON) is making a bold European move, announcing a definitive agreement to acquire CanAdelaar B.V., the largest cannabis operator in the Netherlands’ regulated adult-use pilot program known as the Wietexperiment. The deal carries €57.5 million (US$67 million) in up-front cash, plus contingent earnouts tied to 2026 and 2027 normalized EBITDA—valuing CanAdelaar at roughly 1.4× LTM revenue and 2.4× LTM EBITDA.

CEO Mike Gorenstein called the acquisition “financially compelling and highly strategic,” giving Cronos a major foothold in the EU’s most advanced adult-use pilot. The Wietexperiment, which launched its full experimental phase in April 2025, requires all 72 coffee shops in ten municipalities to exclusively source cannabis from one of ten licensed producers—and CanAdelaar is the category leader.

Founded in 2018, CanAdelaar runs a 540,000-sq-ft greenhouse and processing facility in Voorne aan Zee, producing about 20,000 kg of dried flower annually. Sales have surged from US$17.7M (2024) to US$47.3M in the twelve months ending September 30, 2025, with EBITDA climbing to US$28.2M.

Cronos plans to leverage its borderless product strategy, expanding CanAdelaar’s offerings beyond flower into edibles, vapes, pre-rolls, and hash—all permitted under the Dutch framework.

The deal is expected to close in early 2026, pending regulatory approvals, giving Cronos a powerful springboard for EU expansion should the Netherlands eventually scale the Wietexperiment nationwide.

🗞️ The News

📺 YouTube

Cannabis vs Alcohol & Pharma: What’s Really Happening | TDR Cannabis in 5

What we will cover:

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On today’s episode of TDR Cannabis in Five, host Shadd Dales breaks down why so many analysts think cannabis is becoming a major player in everyday consumer life — not just a niche product on the sidelines. Sales are climbing, new product categories are catching on fast, and a lot of people are choosing cannabis over things like alcohol, sleep meds, and even traditional wellness products. The question now is: where is this all heading?

Shadd starts with the numbers, including Canada’s strong sales in April 2025 and what that says about where consumer spending is shifting. From there, he looks at how cannabis is starting to compete directly with other industries — whether it’s infused drinks taking share from beer, edibles cutting into pharma categories, or wellness products attracting people who used to buy vitamins and supplements.

He also touches on the global angle, where countries across Europe, Asia, and South America are opening up, leading to more trade activity and new competition. Another key point: younger consumers are treating cannabis more like a lifestyle product than a “vice,” which is changing buying habits fast.