💸 The Tape

The Texas Senate has given the green light to a bill that cannabis advocates argue will effectively send the state’s hemp industry up in smoke. The legislation, backed by Lt. Gov. Dan Patrick, passed with a 24-7 vote, seeking to ban consumable hemp products containing any trace of THC.

This legislative move comes as a new poll reveals that 68% of Texans—including majorities across political parties—support keeping the hemp market intact, though tightly regulated. But despite the public sentiment, lawmakers are doubling down on prohibition.

The Case Against THC: Reefer Madness Redux?

Sen. Charles Perry, the bill’s chief architect, insists that THC-containing hemp products are a “loophole” allowing intoxicating substances to flood the market. His argument? If a chemist can tweak it, it’s too dangerous for Texans.

"For those that argue that this should just be more regulation and tax, there’s not enough tax that we can collect that will deal with the behavioral health issues and the addictions that we currently face," Perry warned ominously. He went so far as to compare modern hemp products to K2, Spice, and even bath salts—because nothing says responsible legislation like lumping in hemp with synthetic drugs that sent people to the ER.

The Bigger Picture: A House Divided

The bill’s fate now rests with the Texas House, where resistance is stronger. Lawmakers are simultaneously debating a host of cannabis-related measures, including full marijuana decriminalization. Meanwhile, a growing number of Texas cities have taken reform into their own hands, passing local decriminalization laws despite state opposition.

Critics argue that instead of embracing a modern regulatory approach, Texas lawmakers are choosing an all-or-nothing path that will only drive hemp products underground—creating the very problems they claim to be solving.

For now, the battle rages on, leaving Texas hemp businesses caught in a legislative haze, unsure if they’ll be able to operate tomorrow.

📈 Dog Walkers.

France Makes Progress

What’s Going On Here: France has finally nudged medical cannabis closer to legalization, notifying the European Commission of key regulatory decrees. This sets off a three-month review period, after which the decrees could become law—if no bureaucratic spanners are thrown into the works. However, don’t expect prescriptions to start flowing just yet. Each drug will still need individual approval, and France’s High Authority for Health (HAS) has a history of dragging its feet (Sativex, anyone?). With potential hurdles around pricing and reimbursement, patients may still face delays, despite an estimated 300,000–800,000 eligible for treatment. Progress? Yes. A done deal? Far from it.

Why Should You Care: This is progress as the conversation is now in full bloom while other countries are sucessfully scaling medical programs around them. Another major shoe to drop would mean an another big win for the EU market on the horizon.

Jushi Advances In Ohio

Whats Going On Here: Jushi Holdings Inc. is making moves in Ohio, unveiling Beyond Hello™ Warren, its latest cannabis dispensary. Located in Warren’s bustling commercial district, the shop joins Jushi’s growing portfolio, which now includes dispensaries in Cincinnati, Toledo, and Oxford. With Ohio’s recent adult-use cannabis legalization, Beyond Hello™ will cater to both medical patients and recreational customers, offering premium flower, vapes, edibles, and more. CEO Jim Cacioppo calls it a “next chapter” for the company, emphasizing quality and customer service. With cultivation and production facilities in tow, Jushi is well-positioned to dominate Ohio’s booming cannabis scene—one dispensary at a time.

Why Should You Care: Fortifying Ohio is a great move for Jushi as we are seeing sales volumes pick up rapidly in the Buckeye State. Once full AU regs have been implemented this market should be quite similar to what we saw in Maryland.

🗞️ The News

📺 YouTube

EU Cannabis Model to Take Shape at Washington, D.C. Summit | Trade to Black

What we will cover:

✅ Host Shadd Dales and Anthony Varrell welcome in Will Muecke and Stanton McLean, Co-Founders and Managing Members of Artemis Growth Partners.

Together, they’ll dive into the upcoming Global Cannabis Regulatory Summit being held at the nations capital in Washington D.C. from March 25-27.

The cannabis industry event will be designed to unite global regulators of legal medical cannabis. The discussion will also include the importance of collaboration between the European and American cannabis markets to promote awareness for industry growth.

Will and Stanton will explain why matching regulations and improving communication can advance cannabis reform and ultimately benefit the cannabis industry worldwide.

Additionally, Christian Angermayer, Chairman of atai Life Sciences (NASDAQ: ATAI), will be featured in our weekly segment, Psychedelic Market Minute. We’ll highlight atai’s latest earnings and discuss the future of the psychedelic industry, particularly in light of Robert Kennedy Jr.’s appointment as head of Human Health and Services.