💸 The Tape

In yet another twist in New York’s legal cannabis saga, the state has officially launched a grant program to ease the burden on struggling retail marijuana businesses. With awards of up to $30,000 per recipient, this initiative aims to cover crucial startup costs for businesses licensed under the Conditional Adult-Use Retail Dispensary (CAURD) program.

For those unfamiliar with CAURD, it’s designed to prioritize individuals who have been "justice involved"—meaning they've been impacted by a past marijuana-related conviction—and who also have prior business experience. In theory, it’s a move toward righting past wrongs and fostering social equity. In practice? Well, that’s where things get murky.

The Fine Print: Who Gets the Green?

Applications opened Tuesday, and with a $5 million budget, funds are available on a first-come, first-served basis—a polite way of saying, "Get in line, fast." Eligible expenses include rent, security systems, insurance, and point-of-sale setups, among other necessities that keep a dispensary running smoothly (and legally). But before anyone starts making shopping lists, there are hurdles: applicants must have at least $10,000 in qualifying expenses, a business bank account that matches their CAURD license, and be in compliance with all state and local cannabis regulations. In other words, no cutting corners.

Will $30,000 Move the Needle?

Let’s be real—while any financial assistance is helpful, $30,000 barely scratches the surface of what’s needed to run a dispensary in New York, where real estate and compliance costs alone can send a startup’s budget into a tailspin. Critics, including the NAACP and various cannabis advocacy groups, have voiced frustration over what they see as a broader shift toward favoring corporate interests.

Additionally, many CAURD license holders are still dealing with the financial strain of high-cost loans issued under a social equity loan fund—loans they say have perpetuated the very economic disadvantages they were meant to resolve. Some have even called on Governor Hochul to forgive these debts entirely, arguing that without real relief, small entrepreneurs will struggle to compete in a market that increasingly favors deep-pocketed players.

The Bigger Picture: A Market in Flux

Despite its rocky start, New York’s cannabis market is showing signs of life, recently surpassing $1 billion in total sales. The state has also launched a Cannabis Banking Directory to help businesses access financial services, a historically thorny issue thanks to federal prohibition. Meanwhile, legislators are making moves on cannabis-related housing protections and broader drug decriminalization efforts, signaling that reform isn’t slowing down anytime soon.

Yet for the independent cannabis entrepreneurs navigating these choppy regulatory waters, the question remains: is the state doing enough to ensure small businesses can survive, let alone thrive? A $30,000 grant is a step, but whether it's a real game-changer or just a well-intentioned Band-Aid remains to be seen.

📈 Dog Walkers.

PA Dollars Are Flowing

What’s Going On Here: Major cannabis players are going all-in on Pennsylvania, hoping to turn the state green—legally speaking. Multistate operators (MSOs) like Trulieve and Cresco Labs have spent over $1.6 million lobbying lawmakers to approve adult-use cannabis, with Trulieve leading the charge at $210,000. With a strong medical marijuana market and limited licenses, Pennsylvania is seen as prime real estate for expansion. Companies like Curaleaf, Verano, and CannTech PA are also opening their wallets, betting that legislators will see the, well, grassroots demand for legalization.

Why Should You Care: The dollars are flowing in PA from MSO’s regarding adult use legalization lobbying efforts. I can’t help but take pause at looking at the numbers and thinking about the gargantuan stack of benjamins that was spent on Amendment 3 in the State of Florida compared to this.

Florida Moves On Hemp Regs….. Again

Whats Going On Here: For the third straight year, Florida lawmakers are wrestling with how to regulate THC-derived hemp products, a booming industry in the state. Sen. Colleen Burton’s latest proposal (SB 438) would ban Delta-8, limit Delta-9 THC levels, and, for the first time, regulate hemp-infused drinks—restricting THC content and confining sales to liquor-licensed establishments. While liquor industry reps support the move, small business owners argue it stifles competition. The bill also shifts testing to certified medical marijuana labs and curbs advertising. With last year’s attempt vetoed by Gov. DeSantis, this version is fast-tracked for a Senate vote.

Why Should You Care: If this bill is to be pushed into law it would allow for the hemp industry to continue to operate in Florida. If this does pass I am going to go out on a limb and say we are in the join them stage in the good ole saying “if you can’t beat em, join em”.

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📺 YouTube

Cannabis Legalization: Why Your Opinion Matters | Trade to Black

What we will cover:

✅ On our latest Trade to Black podcast, host Shadd Dales will explain why your opinion matters when it comes to cannabis legalization. This episode dives into one of the most polarizing and transformative topics of our time.

Shadd will explore the global shift in cannabis laws, noting how countries like Canada, Germany, and Uruguay are leading the charge, while over 24 U.S. states have fully legalized adult-use cannabis. He’ll shed light on the economic potential—citing billions in projected revenue—alongside the public health and social justice implications.

The discussion also addresses key challenges, such as regulatory hurdles, health concerns, and divided public opinion. Shadd highlights a pivotal development from Pennsylvania, where recent Senate hearings revealed growing bipartisan support for legalization, showing how public opinion shapes policy.

This episode unpacks the benefits, controversies, and complexities of legalization, inviting viewers to join the conversation. Your perspective matters—be sure to share your thoughts in the comment section!