Week in Review: Cannabis & Psychedelics Industry Highlights

LOS ANGELES – The past fortnight delivered a surge of momentum across the U.S. Cannabis and Psychedelics sectors, where federal signals on coverage and equity met bold state actions on access and licensing. Operators navigated stock adjustments and acquisition plays, while research breakthroughs hinted at broader therapeutic frontiers. Investors watched closely as these developments underscored a market ready to capitalize on regulatory clarity and patient demand. This edition spotlights the breakthroughs drawing sharp focus from Wall Street analysts and policy watchers, followed by tactical gains shaping operations nationwide.

Federal Coverage Breakthroughs Reshape Patient Access

Discussions around Medicare’s potential inclusion of CBD products for seniors grabbed headlines, signaling a federal nod to Cannabis-derived therapies in mainstream healthcare. The Centers for Medicare & Medicaid Services outlined a pilot initiative to cover pharmaceutical-grade CBD for oncology and palliative care patients dealing with pain, anxiety, and sleep disturbances, positioning it as a viable alternative to opioids.

Equity advocates celebrated another Washington milestone with the introduction of the RESPECT resolution by a bipartisan group of House representatives. Led by Reps. Ilhan Omar and Troy Carter, the measure presses states to automate expungements for nonviolent Cannabis offenses, reserve licenses for impacted communities, and channel tax dollars into reparative initiatives.

State Markets Accelerate with Licensing & Expansions

Virginia’s path to adult-use sales crystallized, as a joint commission mapped out 2026 rollout details including 350 licenses, an 8% tax rate, and safeguards for small growers. With Gov.-elect Abigail Spanberger on board, projections forecast $154 million to $308 million in yearly revenue and up to 18,000 jobs. Possession has been legal since 2021, but this commercial green light ends years of veto-driven delays, prioritizing local agriculture over big-box dominance. Analysts see it boosting both regional supply chains and tax bases.

Curaleaf wasted no time staking a claim in Virginia, snapping up The Cannabist Co.’s assets for $110 million, including a Richmond cultivation hub and five dispensaries. The deal, closing in Q1 2026, mixes $80 million upfront cash with deferred payments tied to recreational launch, positioning Curaleaf for seamless scale-up. This foothold arrives just as the state gears for broader sales, underscoring how acquisitions can outpace organic builds in fragmented markets.

Texas handed Verano a conditional license for its medical program, selecting the operator for the El Paso region under expanded Compassionate Use rules. This provisional nod covers cultivation, processing, and retail, pending full compliance checks for 2026 operations. With THC caps at 10 mg per dose, Verano’s vertically integrated model [fresh off $620 million in nine-month revenue] promises Texas-sourced products and job growth. It marks another win for multistate players cracking conservative strongholds.

New York’s medical Cannabis program widened its doors, now welcoming out-of-state patients with valid certifications starting late February 2026. Gov. Kathy Hochul’s signature on the update also extends certifications to two years, scraps possession limits, and allows home grows for adults.

A conservative think tank entered the fray with a push for uniform federal labeling standards, spotlighting how state variances rack up compliance costs; up to $30,000 fines in California alone. The American Enterprise Institute’s report flags gaps in risk warnings, from lung impacts to impaired driving, and calls for Surgeon General-backed templates to streamline operations and shield youth.

Corporate Strategies Drive Revenue & Reach

Jazz Pharmaceuticals edged closer to a $1 billion milestone with Epidiolex, its CBD epilepsy treatment, posting $302.6 million in Q3 sales, a 20% jump on prescription growth and global reach in 35 countries.

Curaleaf marked another Florida milestone by unveiling its 70th dispensary in Cape Canaveral, timed for a December 12 grand opening with local strains and patient perks. The Sunshine State, home to 925,000 medical cardholders, accounts for 20% of Curaleaf’s U.S. haul through vertical control.

Tilray Brands pulled the trigger on a 1-for-10 reverse stock split, shrinking shares from 1.16 billion to 116 million to satisfy Nasdaq rules and lure bigger investors. The move saves up to $1 million yearly on filings, though shares dipped 16% post-news amid broader sector slides.

Global Footprints Expand Amid Domestic Pressures

High Tide planted its flag in Europe with the debut of a Canna Cabana accessories shop in Berlin, the first brick-and-mortar from a North American public Cannabis company on the continent.

Sensi Brands geared up for export growth by acquiring Maricann‘s 100-acre Ontario greenhouse, a EU-GMP setup expandable to 1.1 million square feet for 30,000 kg annual flower output.

Aurora Cannabis widened its Australian footprint through a wholesale pact with Leafio, Montu’s distribution arm, rolling out TGA-certified brands like MedReleaf and CraftPlant to 700,000 patients. The deal bundles clinician education and R&D, tapping a $740 million market set to double by 2033.

Organigram scored a $2 million government grant to revamp its Moncton facility, swapping 9,000 LED lights for efficiency gains that lift output 10% and trim energy use. The 210,000-square-foot site targets 100 million grams yearly, supporting 700 jobs and injecting $3.37 million into local GDP by 2026.

Even overseas, reform calls echoed U.S. debates, as Kenyan MP Peter Kalerwa Salasya pitched regulated legalization to curb black-market dangers. Highlighting U.S.-style strain labeling and testing, he envisions $200 million in high-CBD hemp exports while mandating age checks and education.

Psychedelics Gain Ground in Policy & Trials

Federal momentum for psychedelics intensified, with administration officials committing to faster pathways for clinical deployment. HHS Secretary RFK Jr. pledged to unlock access for PTSD treatments by mid-2026, emphasizing supervised settings to harness benefits without risks.

Psyence BioMed broke new ground by launching a psilocybin study on aging markers, teaming with South African researchers to probe inflammation, cell stress, and telomere health.

Terminal patients stand to benefit from the bipartisan Freedom to Heal Act, which carves out DEA exemptions for Schedule I psychedelics like MDMA and psilocybin once standard options fail. Co-sponsored by Sens. Cory Booker and Rand Paul, the bill mirrors Right to Try laws, mandating Phase 1 safety data and allowing state opt-outs.

New Jersey took a decisive step toward supervised psilocybin services, with the Assembly Health Committee greenlighting the Psilocybin Behavioral Health Access Act. The legislation paves the way for licensed therapy targeting depression, PTSD, and end-of-life distress, complete with manufacturer oversight, facilitator training, and social equity provisions like fee reductions for minority operators.

HCN Insight

The last two weeks revealed a sector hitting its stride: federal overtures on CBD and psychedelics injected capital confidence, while state licensing waves in Virginia, Texas, and New York fueled operational ramps. Corporate maneuvers [from Jazz’s revenue sprint to Curaleaf’s territorial grabs] demonstrated how agility triumphs over hesitation in a $45 billion arena projected to swell with tax relief and export ramps. Equity resolutions like RESPECT reminded us that growth must lift all boats, not just the biggest fleets.

Echoing 2025 MJBizCon‘s electric vibe, our team snagged prime insights on rescheduling timelines, national trends, and global supply chains. Follow us on LinkedIn and subscribe to our free newsletter to access exclusive interviews with industry heavyweights, unpacking how these threads weave into 2026’s profit plays.

For investors and stakeholders, the directive rings loud:
Focus on policy windows and patient proofs today, as 2026 ushers in a $100 billion era where therapeutics prevail over tradition.

Highly Capitalized Network-HCN anticipates even bolder bets yielding outsized returns.
The momentum favors the prepared. So, stay tuned to keep up with the latest news and watch the buildout up close from your HCN front-row seat in Psychedelics, Hemp & Cannabis.