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- đż Texans Are At Odds With Each Other Over Hemp
đż Texans Are At Odds With Each Other Over Hemp
GM Everyone,
THC beverages are the biggest thing since sliced bread.
đ¸ The Tape
Texas is once again knee-deep in its favorite pastime: fighting about hemp. This time, the clash pits Agriculture Commissioner Sid Miller against State Sen. Charles Perry, with Governor Abbottâs executive order hovering in the background like a referee who secretly wants both teams to lose.
The spark? Perry wrote to the Texas Department of Agriculture (TDA) and the Department of State Health Services (DSHS) demanding ânarrowly tailoredâ changes to hemp regulations. His big ask: measure total THCâincluding THCA, not just delta-9 THCâwhen deciding what counts as legal hemp.
Miller fired back, saying Perryâs claims were âincorrectâ and that Texas has always followed USDAâs tough standards. âThere are no loopholes under my watch,â Miller insisted, clearly eager to set the record straight. But his clarification also carried an eyebrow-raising caveat: yes, Texas hemp already must be tested using post-decarboxylation methodsâwhich means THCA is indeed folded into the total THC equation.
Cue the sound of industry stakeholders nervously clutching their product lines.
Why It Matters
At the federal level, hemp is defined as cannabis with no more than 0.3% delta-9 THC. That definition is the backbone of the booming hemp-derived marketâthink THCA flower, delta-8 gummies, and other products that have filled smoke shop shelves. Shift the standard to total THC, however, and suddenly a huge chunk of these offerings could be deemed illegal overnight.
As Jonathan Miller of the U.S. Hemp Roundtable noted, the real question is whether this stricter measurement will extend beyond crops in the field to finished consumer products. If yes, itâs not just farmers who need to worryâit could wipe out entire categories of hemp-derived products.
Advocates like Heather Fazio from the Texas Cannabis Policy Center argue that Sid Millerâs letter at least clarified Perryâs misconceptions, especially about hemp grown in Texas. Still, all eyes are now on DSHS, which must finalize its own rulemaking in line with Abbottâs executive order.
The Bigger Picture
This standoff is more than bureaucratic quibbling. Itâs about whether Texas chooses to support a regulated hemp marketâor suffocate it in the name of public safety optics. Miller is trying to thread the needle, promising both âfreedom to succeedâ for farmers and âthe toughest lab testing standardsâ for compliance.
But as any Texan knows, the devil is always in the detailsâand if those details end up banning THCA flower and other high-demand products, the stateâs hemp industry may be in for its roughest ride yet.
đ Dog Walkers
$MRMD ( Ⲡ8.05% ) Stands Up For Vets
Whatâs Going On Here: InHouseâ˘, the cannabis brand known for its high-quality flower, vapes, and gummies, is doing more than just stocking shelves this fallâitâs stepping up for veterans. Parent company MariMed Inc. (CSE: MRMD / OTCQX: MRMD) has launched the second annual Help on the Homefront campaign, designed to tackle one of the toughest battles many veterans face: housing costs.
Running from October 1 through November 30, 2025, the campaign will award $5,000 each to four veterans across MariMedâs retail markets in Maryland, Massachusetts, Delaware, and Illinois. The funds can go toward rent, mortgage payments, or essential home improvementsâreal help for real needs.
Veterans age 21+ can apply in-store at any Thrive dispensary or online at www.inhousecannabis.com/veterans. Even better? Friends and family can nominate on a veteranâs behalf. Winners will be randomly selected before yearâs endâbecause luck should sometimes work in your favor.
âHelp on the Homefront is about community, not just cannabis,â said Tim Shaw, MariMedâs Chief Operating Officer and a U.S. Army veteran. âWeâre proud to provide meaningful financial support that can ease the burdens too many veterans carry after service.â
The program, first launched in 2024, has already helped raise awareness about the nationwide issue of veteran housing and homelessness. By returning for a second year, InHouse⢠and MariMed are proving this isnât just a one-off gestureâitâs part of a longer-term commitment to community impact and veteran support.
For veterans and their families, itâs more than just a sweepstakes. Itâs a reminder that the cannabis industry can do more than fuel wellnessâit can build stability, one home at a time.
$VRNOF ( Ⲡ8.38% ) Inks New Revolver
Whatâs Going On Here: Verano Holdings Corp. (Cboe CA: VRNO / OTCQX: VRNOF) just locked in what may be the largest revolving credit facility ever secured by a U.S. cannabis operatorâa hefty $75 million deal arranged by Chicago Atlantic Admin, LLC with participation from a regional bank.
Upon closing, Verano immediately drew $50 million, using the funds to pay down higher-interest debt from its existing senior secured credit facilityâwithout triggering any pesky prepayment penalties. That move alone lowers borrowing costs and frees up the balance sheet, while the remaining $25 million stays on standby for strategic initiatives.
The new Revolver comes with perks that would make any CFO smile:
Lower-cost debt pegged at SOFR + 6% (with a 4% SOFR floor).
Flexibility to pay down or redraw capital as needed.
Real estate release options, provided leverage stays below 60% of pledged value.
A maturity date of September 29, 2028, with repayment allowed in $2.5 million increments.
âThis closing is another important step forward in executing our capital and finance strategy,â said George Archos, Veranoâs Founder and CEO. âWeâre fortifying the balance sheet and positioning ourselves to capture future opportunities.â
Chicago Atlantic Managing Partner Peter Sack called it a milestone: âRevolving credit facilities are common outside cannabis, but Veranoâs facility is the largest weâve seen in this industry, giving them dynamic tools to manage leverage.â
For Verano, this facility isnât just cheaper debtâitâs a strategic lever to stay nimble, capitalize on market opportunities, and keep shareholders confident.
đď¸ The News
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Roger Stone: Trump Could Outdo Democrats on Cannabis | TTB Powered by Dutchie
What we will cover:
â Can Donald Trump outflank Democrats on cannabis reform? Thatâs the question Roger Stone raised this week, arguing that Trump could seize political ground by rescheduling marijuana â a move Democrats failed to deliver during their time in power. What would that mean for policy, markets, and investors?
The TDR Trade To Black Podcast, presented by Dutchie with host Shadd Dales and Anthony Varrell, breaks down this new twist in U.S. cannabis politics and its implications for the industry. We also get into some of the big stories happening in global markets: ⢠Cannabuzz joins WSWA: For the first time, a THC beverage brand has entered the Wine & Spirits Wholesalers of America, giving hemp-derived drinks a seat at the alcohol industryâs most powerful table. CEO Annie Rouse calls it a step toward legitimacy, standardization, and regulatory clarity. ⢠Germanyâs legalization report card: Early data from the Konsumcannabisgesetz (KCanG) shows cannabis-related offenses plummeting 60â80%, youth use declining, and no spike in traffic accidents. Still, the illicit market remains strong as cultivation clubs struggle to gain traction. ⢠Verano Holdingsâ financing move: The MSO announced a $75 million revolving credit facility, immediately drawing $50 million to refinance higher-cost debt. The facility, backed by real estate, provides financial flexibility and positions Verano for future growth.