💸 The Tape

If your house has appreciated more than your retirement account over the last decade, you might want to thank your state’s weed laws.

A new study from real estate platform Clever Offers finds that states with legal adult-use cannabis saw home values rise $60,327 more, on average, than their prohibitionist peers between 2009 and 2024. That’s not just smoke and mirrors—it’s nearly the cost of a modest kitchen remodel or a down payment on a Tesla.

According to the data, home values in recreational states climbed $222,958 since 2009, compared to $162,631 in states where cannabis still gets the side-eye from lawmakers. As of 2024, the average home in a recreational state clocks in at $447,635—a solid 39% more than homes in non-legal states.

The top of the housing high-rise? California, Hawaii, Washington, Massachusetts, and Colorado—a veritable who’s-who of early adopters. The bottom of the ladder? Louisiana, West Virginia, Mississippi, Arkansas, and Oklahoma—states still clinging to prohibition like it’s 1989.

Even states that have legalized only medical marijuana got a bump, with home values growing $22,185 more than in completely non-legal states. It’s not just about the pot, the report clarifies, but legalization brings a bouquet of benefits: tax revenue, better public services, and increased neighborhood desirability.

Interestingly, nine out of the ten states with the greatest home value growth had legalized cannabis during the study period. And nine out of ten states with the weakest growth hadn’t.

Of course, not everyone’s lighting celebratory joints. Rising home values also mean higher barriers to entry, and many states with the biggest real estate gains also struggle with homelessness and housing affordability.

Still, for homeowners and hopeful investors, the green wave might just be the new gold rush. So, if you're house hunting and your budget’s looking a little hazy, maybe check out the local weed laws—your ROI might just get a contact high.

📈 Dog Walkers.

$VFF ( ▲ 4.65% ) Pure SunFarms Is On The Case

What’s Going On Here: Pure Sunfarms, a top Canadian cannabis grower and subsidiary of Village Farms (Nasdaq: VFF), just dropped a scientific truth bomb in Scientific Reports (Nature Portfolio): your weed’s THC label might be more fiction than fact.

The study analyzed commercial greenhouse-grown cannabis and found significant THC variation within individual plants—top, middle, and bottom buds each showing different potency levels. So that tidy little THC percentage printed on the label? It may not tell the full story.

“Cannabis is an agricultural product, not a pharmaceutical compound,” said Orville Bovenschen, President of Village Farms’ Canadian Cannabis division. “Potency isn’t static—it’s influenced by nature. Time to stop pretending otherwise.”

Current Canadian regs require just one THC percentage on product labels—something this research says is misleading and ripe for reform. The paper lays a scientific foundation for smarter, evidence-based regulation that goes beyond potency obsession.

Bottom line: the plant is complex, the label is oversimplified—and the industry needs a wake-up call.

$VRNOF ( ▲ 2.26% ) Promotes From Within The Ranks

What’s Going On Here: Verano Holdings (Cboe CA: VRNO | OTCQX: VRNOF) just tightened its executive lineup with the promotion of James Leventis to Chief Strategy and Compliance Officer, effective July 1, 2025.

Leventis—who’s been with Verano since 2019—has been instrumental in the company’s evolution from a single-state operator to a national heavyweight. With a résumé spanning nearly 15 years in healthcare, pharma, and cannabis compliance, he’s no stranger to navigating complex regulatory terrain.

Previously EVP of Legal, Regulatory, and Government Affairs, Leventis now takes on a broader role, guiding Verano’s strategic growth and shepherding its licensing and compliance efforts across the U.S. He also brings policy clout, holding key roles in groups like the U.S. Cannabis Roundtable, American Rights and Reform PAC, and ATACH.

CEO George Archos called the move a strategic win: “As the cannabis landscape shifts, James’s leadership will be vital in driving both company goals and federal reform forward.”

Bottom line: Verano’s betting big on regulatory savvy and political muscle—and Leventis is now at the center of that play.

🗞️ The News

📺 YouTube

Rescheduling Showdown: GOP Tries to Stop It, Trump Says It’s Coming | TDR Cannabis in 5

What we will cover:

✅ A major move just happened in Washington—and it could confirm that cannabis rescheduling is closer than ever.

Congressional lawmakers have officially approved a GOP-backed spending bill that would block the Department of Justice from using funds to reschedule or deschedule marijuana under the Controlled Substances Act.

On the surface, this looks like a setback. But here’s why it’s actually huge news:

House Republicans wouldn’t be pushing this rider unless they believed an announcement on cannabis rescheduling was imminent.

And just last week, President Donald Trump, in a private meeting with two House lawmakers, said: “We’ll be moving forward soon with rescheduling marijuana.”

That’s Trump’s first public or private acknowledgment on cannabis reform this year—and it adds political momentum as the Senate prepares to confirm Terrence Cole as the new DEA Administrator. Cole has already said rescheduling marijuana would be one of his top priorities.