Week’s In Review: How Do You Target the Right SEC-Accredited Investors in Cannabis?; Amethyst Health Secures Conditional Medical Cannabis License in New York; California’s Cannabis Excise Tax Set to Increase Amid Industry Concerns

LOS ANGELES — Welcome to the far too-exciting world of cannabis and psychedelics, where it’s a tale of two markets with some states doing amazingly well. And some, well…they’re not doing so well (hello New York). Let’s get to it! 

Cannabis Industry Highlights

#1) How Do You Target the Right SEC-Accredited Investors in Cannabis?: It’s tough to raise money in cannabis, but with the general election over, there are investors who becoming active once again. Raising capital for cannabis startups and small businesses requires a strategic approach, particularly when targeting SEC-accredited investors. These individuals bring significant financial resources and expertise, making them key to your fundraising success. Read our special report here.

#2) Amethyst Health Secures Conditional Medical Cannabis License in New York: a partnership between Black Star Wellness, LLC, and AYR Wellness Inc, has been conditionally awarded a vertically integrated medical cannabis license by the New York Cannabis Control Board. This license grants the right to operate as a “Registered Organization” within New York’s regulated cannabis market.

#3) California’s Cannabis Excise Tax Set to Increase Amid Industry Concerns: California’s legal cannabis industry faces a significant fiscal challenge as the state’s excise tax on cannabis products is scheduled to rise from 15% to 19% on July 1, 2025. This increase stems from a 2022 legislative agreement that eliminated the cultivation tax but included provisions for a gradual escalation of the excise tax to offset revenue losses.

#4) Trump’s Attorney General Pick Raises Hope for Cannabis Policy Reform: President-elect Donald Trump has nominated Florida Representative Matt Gaetz as the next U.S. Attorney General, a move that could significantly influence federal cannabis policy. Gaetz, a vocal advocate for cannabis reform, has previously supported legislation aimed at reclassifying cannabis from Schedule I to Schedule III under the Controlled Substances Act. However, his nomination is not secure.  The fact remains that Gaetz own party calls him a human trafficker and sexual deviant.

#5) Ireland’s Fianna Fáil Clarifies Stance on Drug Decriminalization: Focus on Cannabis, Excludes Hard Drugs: Fianna Fáil has clarified its stance on drug decriminalization, specifying that its proposal to decriminalize possession for personal use applies exclusively to cannabis and excludes substances such as cocaine and heroin. This clarification follows the party’s general election manifesto commitment to adopt a health-led approach to drug addiction, emphasizing treatment and education over criminal penalties.

#6) Idaho Activists File Cannabis Decriminalization Measure for 2026 Ballot: In a strategic move following the rejection of cannabis legalization measures in three states during the 2024 general election, Idaho advocacy group Kind Idaho has submitted a ballot initiative aimed at decriminalizing personal cannabis use for the 2026 election. The proposal, filed with the Idaho Secretary of State’s office, seeks to exempt adults aged 21 and over from state prohibitions on the possession and cultivation of cannabis for personal use, explicitly excluding any provisions for commercial production or sales.

#7) Medicinal Cannabis Companies Target Veterans with Social Media Promotions, Raising Ethical Concerns :Recent reports indicate that medicinal cannabis companies are increasingly targeting veterans through social media platforms, promoting free products and subscription services. This marketing strategy aims to attract veterans by offering complimentary samples and ongoing product deliveries, leveraging social media’s extensive reach to engage this demographic.

Psychedelic Sector Update

1#) Psilocybin Shows Potential for OCD and Tourette’s Treatment, Study Finds: A new study published in Molecular Psychiatry has identified psilocybin, a psychedelic compound, as a promising candidate for the treatment of obsessive-compulsive disorder (OCD) and Tourette’s syndrome. Conducted by researchers at the Hadassah-Hebrew University Medical Center, the study highlights the long-lasting therapeutic effects of psilocybin in preclinical trials using animal models.

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