💸 The Tape

The war on weed is back on in Austin—at least for now.

A Texas appeals court on Thursday temporarily blocked the enforcement of a marijuana decriminalization ordinance passed overwhelmingly by Austin voters nearly three years ago, siding with Attorney General Ken Paxton (R) in a state-led legal challenge.

The Fifteenth Court of Appeals, a conservative-leaning panel made up of three Gov. Greg Abbott appointees, ruled that Austin’s ordinance—banning police from arresting or citing people for low-level cannabis possession—is preempted by state law.

The decision reverses a lower court ruling that had sided with the city, and the case will now proceed to trial. In the meantime, police in Austin are legally empowered to resume arrests and citations for marijuana possession, marking a sharp reversal in cannabis enforcement policy in Texas’s liberal capital.

🔁 Déjà Vu for Reformers

This is the second major win in recent weeks for the state’s legal efforts to strike down local cannabis reforms. Just days earlier, the same appeals court also ruled against San Marcos, where voters had approved a similar decriminalization measure. That case, too, will head to trial.

The rulings represent setbacks for a broader grassroots movement that’s seen multiple cities across Texas—including Austin, Dallas, Denton, Elgin, and Harker Heights—pass local ballot initiatives to stop prosecuting minor marijuana possession.

In Dallas, however, a different judge ruled in February that the city’s decriminalization law can remain in effect while litigation continues—highlighting the legal patchwork currently defining cannabis policy in Texas.

🛑 The Bigger Crackdown

The court rulings come just one day after the Texas Senate passed a bill to ban local governments from putting marijuana or drug-related measures on future ballots altogether. If passed by the House and signed into law, it would spell the end of the local-option reform strategy that has filled the void in a state where the Legislature has refused to act.

Under the bill, cities that attempt to pass or enforce such ordinances would face $25,000–$50,000 in civil fines, and the attorney general would be authorized to fast-track legal challenges.

🚨 Paxton and Abbott’s War on Weed

Attorney General Ken Paxton has aggressively targeted the wave of city-level reforms, launching lawsuits and demanding compliance. And Gov. Greg Abbott, while once claiming he didn’t want people jailed for small-time possession, has since lashed out at what he calls “chaos” created by patchwork policymaking.

Oddly enough, Texas has never technically decriminalized marijuana statewide—contrary to Abbott’s past public comments.

⚖ Reform Momentum Still Alive

Despite the legal onslaught, cannabis advocates aren’t backing down. Activists are aiming to put a decriminalization measure on the ballot in Kyle, Texas this November, and Rep. Joe Moody (D) has reintroduced a statewide cannabis decriminalization bill, building on House support in past sessions.

But unless the Lieutenant Governor-led Senate changes its tune—or the courts start siding with reform again—the path forward for local cannabis reform in Texas looks increasingly uphill.

📊 What’s at Stake?

While symbolic of a larger culture clash, these policies have very real consequences. According to a 2023 Ground Game report, local decriminalization laws have kept hundreds of Texans out of jail and boosted voter turnout, especially among younger demographics.

That momentum, however, now faces an existential threat from state lawmakers and courts who are using every tool available to shut the door on local cannabis autonomy.

In a state where the Legislature moves slowly—but the people don’t—Austin’s setback is a blow, but not necessarily the end of the road. For now, though, possession of even small amounts of marijuana in the city could once again land you in cuffs.

📈 Dog Walkers.

Rumors Are Swirling

What’s Going On Here: Organigram Global Inc. (NASDAQ: OGI | TSX: OGI) has earned multiple accolades at the 2025 Cannabis NB Cup and CNB Leadership Conference, underscoring the strength of its consumer brands.

• Trailblazer’s Gary Dunk 3.5g placed 3rd in the Indica category at the Cannabis NB Cup, voted on by consumers.

• SHRED won Best In-Store Branding for its bold shelf presence and engaging visual identity.

• Edison Sonics Kiwi Berry was named Best New Edible, praised for its unique formulation and standout flavor.

Chief Commercial Officer Tim Emberg credited the wins to Organigram’s consumer-first strategy and brand innovation. SHRED continues to dominate with $250M+ in retail sales, while Edison and Trailblazer are fueling double-digit category growth.

Why This Matter: ]

Cronos To Report 5/8

What’s Going On Here: Cronos Group Inc. (NASDAQ: CRON | TSX: CRON) will host its Q1 2025 earnings conference call on Thursday, May 8, 2025, at 8:30 a.m. ET. Senior management will review financial results and take questions from the investment community.

Event Details:

• Date: Thursday, May 8, 2025

• Time: 8:30 a.m. Eastern Time

• Registration & Access: Register here

• Replay: Archived webcast available on the Cronos investor website

🗞️ The News

📺 YouTube

Canopy Growth CEO Targets Adjusted EBITDA for Turnaround Strategy | Trade to Black

What we will cover:

✅ Hosts Shadd Dales and Anthony Varrell welcome Luc Mongeau, the new CEO of Canopy Growth (NASDAQ: CGC). Five months into his role, Luc shares insights into the company’s transformation, starting with immediate priorities like operational cleanup and debt reduction. But one focus stands above the rest—driving adjusted EBITDA growth as the clearest path to financial stability and long-term success.

Luc outlines how every decision—from streamlining operations to restructuring resources—is being aligned with improving profitability and achieving sustainable positive adjusted EBITDA. He emphasizes that in today’s competitive cannabis industry, profitability, not just scale, is the new benchmark for success.

With earnings coming in May, Luc previews the financial messages he hopes to deliver and explains how adjusted EBITDA serves as a guiding metric across all departments. He also weighs in on global expansion, the strength of Canada’s marijuana medical market, and how experience from the CPG sector is shaping his leadership approach.