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You can now DoorDash your weed 🏎️

Plus, a Republican Senator talks cannabis

Today’s newsletter made possible by:

Good morning.

Happy Friday, everybody. Right after you read today’s newsletter, we suggest pouring another cup of coffee and reading our friend Marc Hauser’s recent Cannabis Musings. It’s a good one. 

Let’s get to it. 

-JB & JR

This newsletter is 806 words or about a 7-minute read. 

💡 What’s the big deal?

DOORDASH
You can now DoorDash your weed

What happened: DoorDash will now deliver your cannabis. At least if it’s hemp-derived. 

Zoom in: The delivery company announced on Thursday that it will deliver hemp-derived cannabis products, including drinks, gummies, and more directly to you in select states. 

What they’re saying: “With the growing demand for hemp-derived THC and CBD products, we're excited to expand access to a wide selection of products consumers crave,” said Jacob Morello, Director, GM of Alcohol and Emerging Categories at DoorDash. “As preferences evolve, DoorDash can now help eligible customers find new products to safely enjoy while they unwind and recharge in the new year.”

How it works: DoorDash will partner with shops like Total Wine & More and ABC Fine Spirits via its DashMart fulfillment store that already offer cannabis products, including THC and CBD. Customers will be able to see a CBD/THC tab on their apps.

Hemp-derived cannabis, unlike traditional cannabis, is technically legal in the US since the passage of the 2018 Farm Bill, though some states, like California, have sought to rein in these products. 

-JB

Yes, You Can Lend to Cannabis Businesses*

Lending to licensed cannabis operators is more than just possible—it’s a strategic advantage for financial institutions.

By offering loans to this rapidly growing sector, you can attract top-tier operators, build a strong deposit base, and unlock higher-yield earning assets.

The Shield Compliance Cannabis Lending Guide empowers bankers to navigate the unique challenges of cannabis lending. 

From managing compliance and reputational risks to evaluating cannabis-related collateral, our guide provides a clear, actionable roadmap for success in the emerging market.

With the right tools and strategies, lending to cannabis businesses can be both compliant and profitable. 

Join the financial institutions already leveraging this holistic approach to banking and secure your place in the future of cannabis finance.

*sponsored

📣 Quotable

“As a guilty member (to a degree) with lots of scar tissue, I think we can blame most of the management teams for trying to get rich quick off of hype and overpromising (and being over confident), as opposed to looking at returns on capital and prudently allocating capital,” Josh Rosen, the former CEO of Vireo Growth, said on X in an enlightening discussion on the cannabis industry’s struggles.

Quick hits

Virginia lawmakers introduce legalization bill 🌿

Virginia Democrats reintroduced a bill that would legalize cannabis sales in the state. Last year, Republican Gov. Glenn Youngkin vetoed a bill passed by the legislature — and it’s possible he may veto it again, Marijuana Moment reports.

Judge nixes Green Thumb’s plan to open dispensaries in Circle Ks 👀

A Florida judge upheld a 2022 decision to stop Green Thumb Industries from opening medical cannabis dispensaries adjacent to Circle K stores, MjBizDaily reports

New York bill would allow cannabis consumption lounges 🗽

A new bill filed by New York lawmakers would allow cannabis consumption lounges to sell non-infused food and beverages and host live events like concerts. It’s still unclear when consumption lounges would be allowed to open, however. 

And in other New York news, four cannabis shop owners sued the state, saying that their business would be harmed by competitors who received authorization to open within a few hundred feet of their stores and that the new stores violate the state’s proximity rules, reports The Albany Times-Union

🤝 Deals, launches, partnerships

New York awards another 31 cannabis licenses 📈

The New York Office of Cannabis Management awarded 31 new cannabis licenses in a meeting yesterday. Here’s the breakdown. And if you’re a new licenseholder, you might want to check out Distru’s upcoming January 15 webinar on New York’s upcoming track and trace regulations. You can register here

New vape company launches 🤝

A new vape company, Alaska-based Zone Vapor, launched, led by CEO Gary Fisher and director of operations Justin Li. Check it out

And more:

024, a Black woman owned fragrance company, is crowdfunding for the launch of Space Spray, which neutralizes cannabis odors.

📰 What we’re reading

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