💸 The Tape

Hawaii is getting ready to turn its famous sunshine into green growth with an ambitious 311-page bill designed to legalize and regulate nearly every aspect of cannabis—adult-use, medical, and even hemp. Sponsored by legislative heavyweights David Tarnas and Joy San Buenaventura, the proposal aims to consolidate oversight under a single agency: the Hawaii Cannabis and Hemp Office.

If all goes according to plan, adults 21 and older could legally possess up to one ounce of marijuana and five grams of concentrate starting January 1, 2026. Home cultivation would be on the table, too, with up to six plants per person (ten for a household). Meanwhile, sales of nonmedical products would be taxed at 14 percent—a figure that could give state coffers a nice bump. Naturally, that might also attract deep-pocketed investors eyeing the volcanic potential of a newly minted market.

Legislators are apparently tired of half-baked approaches. Last year’s legalization attempt narrowly passed the Senate but collapsed in the House. Now they’re hoping a new House speaker and robust support from Governor Josh Green will usher this plan across the finish line. Businesses that act fast could gain a serious first-mover advantage—especially since adult-use sales might launch as early as next year.

The bill also dedicates a whopping 30 percent of state revenue to a social equity grants program, underscoring a commitment to inclusive growth. Another 10 percent goes toward public health and education, and 10 percent for public safety—proving that the state intends to keep things well-balanced. On top of that, license applicants who’ve been in Hawaii for at least five years and have no serious felonies might find themselves on the fast track to success. The plan’s rules could also allow for special event permits and social consumption spaces, setting the stage for a uniquely Hawaiian spin on cannabis tourism.

Still, it’s not all sunshine and pineapples. Penalties remain steep for those who step outside the legal framework, with new restrictions on minors, unlicensed extraction, and open containers. Even packaging rules get the color-drained treatment—medical marijuana might have to be sold in plain white. But for those who navigate the labyrinth of regulations, the sky (and maybe the surf) could be the limit. Keep an eye on these legislative waves—Hawaii’s cannabis market may soon be riding a historic high.

📈 Dog Walkers

Curaleaf To Report 3/3

Curaleaf Holdings, Inc. (TSX: CURA / OTCQX: CURLF) plans to release its fourth quarter and full-year 2024 results on March 3, 2025, after market close. The international, industry-leading cannabis consumer products provider will then hold a 5:00 p.m. ET webcast and conference call. Curaleaf’s leadership will deliver prepared remarks and answer questions on the Company’s key operational and financial highlights.

Seed and Strain Has Landed In Maryland

The Cannabist Company (Cboe CA: CBST) (OTCQX: CBSTF) (FSE: 3LP) has introduced its Seed & Strain brand to Maryland, debuting 0.5-gram vape cartridges at Columbia Care in Chevy Chase and gLeaf locations in Frederick and Rockville. The line will soon add whole flower and pre-rolls, pending regulatory approval. Seed & Strain’s arrival marks the brand’s expansion into 12 U.S. markets.

VA Is Progressing

Virginia lawmakers moved closer to launching regulated marijuana sales, with Senate and House committees each approving legalization bills. The proposals would let adults 21 and older buy up to 2.5 ounces of cannabis starting May 1, 2026, subject to an 11.625 percent tax. Local governments could ban retailers if voters agree. Although sponsors Del. Paul Krizek (D) and Sen. Aaron Rouse (D) champion the measure as a way to curb illegal markets, Gov. Glenn Youngkin (R) is widely expected to veto it again.

🗞️ The News

Virginia Legislation To Legalize Marijuana Sales Clears Committee Votes, With Senate Floor Vote Up Next

Florida Lawmaker Withdraws Medical Marijuana Homegrow Bill To Remove Hemp Restriction Provisions

Trudeau’s departure is a turning point for Canada’s cannabis industry

📺 YouTube

Senate Banking, Cannabis Reform, and Trump Administration Policy Shifts | Trade to Black

What we covered:

✅ On the TDR Trade to Black Podcast, we’re diving into the latest chapter of cannabis reform with a focus on the Senate Banking Committee and its evolving impact on the industry.

Host Shadd Dales will break down how the Senate Banking Committee operated under the Biden administration, where key players like Senators Sherrod Brown and Jeff Merkley pushed for cannabis reform, and how the SAFER Banking Act gained momentum despite setbacks. Plus, we’ll examine Senator Steve Daines’ critical role in advancing bipartisan support and what his absence now means for the cannabis industry.

Plus, with the newly appointed Trump administration, the committee is shifting priorities. What do conservative leaders like Senator Mike Crapo and libertarian voices like Senator Rand Paul bring to the table? And why is Senator Tim Scott’s stance on cannabis banking shaping up to be a deciding factor?