Cannabis industry set to employ nearly 800,000 people by 2029 📈

Pro-reform doctors sue DEA over rescheduling 🧑‍⚖️

A group of pro-cannabis reform doctors filed a lawsuit in federal court against the Drug Enforcement Administration, accusing the agency of stacking the deck against cannabis in its witness selection for the now delayed hearings. The lawsuit accuses the DEA of wilfully denying pro-reform advocates the right to participate in the hearing, Law360 reports. 

Michigan pushes for higher taxes 🤔

Michigan Gov. Gretchen Whitmer’s proposal to increase wholesale taxes on cannabis to fund road repairs — her administration calls for 32% — has ignited a “firestorm” of backlash from cannabis companies in the state, reports City Pulse.

Maine’s Office of Cannabis policy under fire 👀

The head of Maine’s Office of Cannabis policy, John Hudak, is under fire from state lawmakers who say he should have recused himself when the state negotiated a seed-to-sale contract with software firm Metrc, reports The Portland Press Herald. Metrc employs Lewis Koski, who worked with Hudak at Freedman & Koski, a cannabis consultancy, before Hudak took the Maine job. Earlier this week, Maine’s Government Oversight Committee said it planned to investigate his office. 

Wisconsin pushes for legalization 🥊

Wisconsin Gov. Tony Evers released a budget earlier this week calling for legalizing and regulating cannabis sales. The state budget calls for a 15% wholesale tax and 10% excise tax on cannabis, and establishes regulations for the hemp-derived THC industry. 

Flowhub finds rampant ‘financial discrimination’ for cannabis businesses 🏦

Cannabis software company Flowhub sent around a survey to cannabis business owners in an effort to drum up political support for federal action on cannabis banking. The survey found that nearly half of respondents had bank accounts shut down, were charged far higher fees than similar size businesses in other industries, and nearly 40% were denied a home mortgage. Read more.

Oregon proposal would allow cannabis cafes 🌿

A new ballot measure proposed in Oregon would allow for cafes with on-site cannabis consumption, following similar proposals in Massachusetts and other states, Marijuana Moment reports.

Shield Compliance: Your Trusted Partner in Cannabis Banking*

Cannabis banking could be a booming opportunity for your financial institution — and Shield Compliance is helping lead the way. 

Since its inception, Shield has partnered with over 70 financial institutions, monitoring 16.5 million transactions, and $64 billion in deposit volume.

The results speak for themselves. 

For the 12 months ending January 31, 2025, Shield’s customers earned $45 million in fee income while managing $1.1 billion in deposit balances and $338 million in loans to over 7,400 cannabis-related businesses. 

These businesses collectively hold more than 25,600 active cannabis licenses, proving Shield’s unmatched ability to scale with this dynamic industry.

With Shield, your institution gains the expertise, technology, and support needed to compliantly serve cannabis-related businesses, driving new revenue streams and strengthening your competitive position.

Ready to take the lead in cannabis banking? 

Partner with Shield Compliance today and turn opportunity into success.

Download the Shield Cannabis Lending Guide today. 

*sponsored

Verano opens its 80th store 🦩

Verano is expanding its presence in South Florida with the opening of MÜV North Miami Beach, its 80th dispensary in Florida and fourth in Miami-Dade County. To celebrate, the company is offering discounts and promotions from February 21-23.

C21 Investments completes share repurchase 💰

C21 Investments said it bought back and canceled 2,051,000 of its own shares, reducing the total number of shares available. This move is meant to increase the value of remaining shares and benefit existing shareholders.

The cannabis industry is set to employ nearly 800,000 people by 2029, according to a new report from Cannabiz Media. You can download the report.

Cannabis Cocktails Are on the Rise. Could They Replace Alcohol? | Newsweek

Can Marijuana Sales Bring Pennsylvania $1 Billion in Revenue? | Governing

Ohioans rail against Republican bill to rewrite marijuana law passed by voters | News From The States

The rapid collapse of MedMen co-founders’ latest marijuana venture | MJBizDaily