💸 The Tape

For years, cannabis and alcohol have orbited one another like wary dance partners at a wedding—close enough to share the same dance floor, but careful not to step on each other’s toes. That changed last week when Cannabuzz, a Kentucky-based maker of hemp-derived THC beverages, became the first THC brand to join the Wine & Spirits Wholesalers of America (WSWA).

If you’re not familiar, WSWA is the nation’s most influential alcohol trade association—home to the distributors who decide which bottles land on bar shelves and which brands get a seat at the grown-ups’ table. For Cannabuzz, this is less about clinking glasses and more about legitimacy.

“We’re proud to be the first THC brand to join WSWA’s THC beverage category,” said CEO and founder Annie Rouse, who sounded understandably enthusiastic about breaking into an industry club usually reserved for vodka, whiskey, and pinot noir. Rouse added that Cannabuzz aims to help “retailers, distributors, and regulators align on simple guardrails that protect consumers and give stores confidence to stock the category.” Translation: standardize labeling, set potency limits, and make sure nobody’s grandma accidentally buys THC iced tea thinking it’s Arnold Palmer.

Being in WSWA provides Cannabuzz with access to what the company calls “distributor expertise, best-practice frameworks and policy engagement.” In other words, they now get to mingle with the big players who know a thing or two about navigating America’s regulatory maze.

This milestone also comes as WSWA itself has been dipping its toes into cannabis policy. Earlier this year, the group urged Congress to regulate rather than ban hemp-derived THC products, proposing common-sense rules: outlaw synthetics, standardize testing and labeling, and let states handle retail sales. It’s a pragmatic stance that echoes WSWA’s broader position—regulation beats prohibition every time.

Francis Creighton, WSWA’s president, even went so far as to write an op-ed saying that federal guardrails, not blanket bans, are the way forward. The group has also been working the halls of Capitol Hill, pitching lawmakers on why beverage alcohol’s three-tier distribution model could serve as a blueprint for cannabis beverages.

For the hemp beverage sector, Cannabuzz’s membership feels like a validation moment. It signals that THC drinks aren’t just a novelty—they’re becoming part of the beverage industry’s future. And for WSWA, it’s a savvy hedge: better to help shape the next big category than watch from the sidelines as cannabis drink brands multiply like hard seltzers circa 2019.

📈 Dog Walkers

Ze Germans Are Getting It Right

What’s Going On Here: Germany’s bold leap into legal cannabis via the Konsumcannabisgesetz (KCanG) is finally getting its first report card—and let’s just say, the sky hasn’t fallen, but the illicit market is still stubbornly hanging around.

According to the EKOCAN interim report, cannabis-related offenses have plummeted by a jaw-dropping 60–80% since legalization. Why? Because police no longer waste time chasing down people for “consumption-related” crimes. Instead, they can focus on, you know, actual problems. A few new infractions were added—like lighting up near minors or growing more than three plants—but those barely register in the stats.

Fears of a post-legalization consumption surge? Overblown. Adult use has stayed on its slow, steady climb that’s been happening since 2011, while youth use has actually continued declining since 2019. Even the dreaded “cannabis poisonings” among kids remain exceedingly rare. Score one for the data nerds.

On the health front, there has been a slight uptick in ER visits tied to cannabis, but experts suggest that might reflect reduced stigma—people now feel safer seeking medical help. And in terms of road safety, there’s been no measurable rise in impaired driving or traffic fatalities. Cue collective sigh of relief.

But here’s the buzzkill: the illicit market hasn’t budged. Cultivation clubs, hyped as a key pillar of legal supply, accounted for less than 0.1% of demand in 2024. Only 2% of adults were even eligible to join by April 2025. Researchers warn that unless reforms are made, these clubs will remain more social experiment than supply chain solution.

Bottom line? Decriminalization is working. Public health is stable. The black market is thriving. Germany’s legalization story is far from over, but Act I has already proven one thing: sensible reform beats prohibition hands down.

$CBSTF ( ▼ 6.78% ) Expands Offerings

What’s Going On Here: The Cannabist Company Holdings Inc. (Cboe CA: CBST / OTCQB: CBSTF) is rolling out the royal carpet for Queen Mary, the award-winning wellness-driven cannabis brand founded by Tiana Woodruff, a Colorado native on a mission to swap dependency for empowerment.

Starting this week, Queen Mary’s Sativa Rosin and Indica Rosin gummies hit all 19 Cannabist retail locations across Colorado, with flavors that work as hard as they taste. The Enchanted gummies (Strawberry Lemonade) are infused with Vitamin B12 and Rhodiola Rosea to spark energy and focus, while the Moonstruck gummies (Lavender Blueberry) use CBN, Linalool, and Indica Rosin to lull you into that elusive deep sleep. Bonus: they’re vegan, naturally flavored, and sugar-free. Coming next month? The Boost tincture (Espresso)—a THCV-packed pick-me-up for clarity without the jitters.

Woodruff, who built Queen Mary after seeing the impact of addiction in her own family, has grown the brand into a multi-state powerhouse with Emerald Cup wins and a seat on the Minority Cannabis Business Association Board. Her focus: pairing cannabis with adaptogens and vitamins for products that feel less “party favor” and more “daily ritual.”

“Queen Mary represents exactly the kind of purpose-driven partner we want,” said Catie Dunn, Director of Commercial Partnerships at Cannabist. “These products fit seamlessly into a wellness routine, not just a weekend one.”

Distribution expands in October, with wholesale sales pushing Queen Mary gummies to dispensaries statewide. Expect to also see them spotlighted at Cannabist’s wellness events and in educational campaigns.

For The Cannabist Company, the move underscores a bigger strategy: partnering with premium, mission-driven brands to elevate cannabis beyond the counter and into community-driven wellness. For customers, it means wellness gummies that actually mean business.

🗞️ The News

📺 YouTube

Senator Ties Cannabis Rescheduling to Banking Reform | TDR Cannabis in 5

What we will cover:

✅ Is cannabis rescheduling really the end goal, or is it just the first domino in a bigger sequence of reforms? That’s the key question lawmakers are now raising — and it could shape how both investors and the industry think about what comes next.

TDR Cannabis in Five, presented by Dutchie, takes a close look at comments from Senator Bernie Moreno, the Republican sponsor of the SAFER Banking Act. Moreno said this week that cannabis rescheduling would be an “important domino” toward advancing banking legislation — reinforcing what we’ve been saying for months: rescheduling may unlock the political space for additional reforms.

In this episode, we outline Moreno’s remarks, why the domino framing matters, and what it signals about the timing of cannabis policy in Washington. For Congress, it provides cover and sequencing; for investors, it creates the possibility of capital access becoming more attainable; and for the industry, it shifts rescheduling from being seen as a symbolic gesture to a functional starting point.