Week’s In Review: New Hampshire Senate Blocks Cannabis Greenhouse Bill Despite Overwhelming House Support; Tilray Reports 13% Decline in Cannabis Revenue for Q1 FY25; Missouri Health Department Requests $877K to Enforce Hemp Product Ban

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#New Hampshire Senate Blocks Cannabis Greenhouse Bill Despite Overwhelming House Support: New Hampshire lawmakers have failed to override Governor Chris Sununu’s veto of a bill that would have allowed medical cannabis producers to cultivate cannabis in greenhouses. The House of Representatives had voted overwhelmingly, 270-55, to override the veto, but the Senate blocked the effort with a 14-9 vote.

2#Tilray Reports 13% Decline in Cannabis Revenue for Q1 FY25: Tilray Brands, a lifestyle and consumer packaged goods company, announced a 13% decline in its cannabis revenue for the first quarter of fiscal year 2025, ending August 31, 2024. Despite overall growth in other business segments, the cannabis division reported net revenue of $61.2 million. This comes as the company faces broader challenges in the cannabis market, though it continues to invest in its diversified portfolio, which includes cannabis, hemp, beverage, and wellness products.

3# Missouri Health Department Requests $877K to Enforce Hemp Product Ban: The Missouri Department of Health and Senior Services (DHSS) has requested $877,000 to fund the enforcement of Gov. Mike Parson’s ban on intoxicating hemp products. The request is part of a preliminary budget for the upcoming fiscal year and would be available if approved by lawmakers in the state’s budget by May 2024.

4#Czech Senate Approves Regulation of Kratom and HHC Sales: The Czech Senate has approved new legislation regulating the sale of kratom and hexahydrocannabinol (HHC), a move aimed at safeguarding public health, especially for minors. These changes follow a high-profile incident in January 2024 in Karlovy Vary, where primary school children were hospitalized after consuming HHC-infused sweets. The legislation introduces stricter controls on the sale of these psychoactive substances, which have until now been largely unregulated.

5#Nebraska Officials Scrutinize Medical Cannabis Petition Signatures: Nebraska state officials are questioning the validity of signatures supporting two medical cannabis ballot initiatives, sparking a legal battle over whether the measures should remain on the upcoming November ballot. Secretary of State Bob Evnen and Attorney General Mike Hilgers have raised concerns about the legitimacy of roughly 49,000 signatures on each petition, alleging widespread “notary malfeasance” and other procedural issues.

Psychedelic Sector Update

6#New Jersey Senate Committee Advances Therapeutic Psilocybin Bill: The New Jersey Senate Budget and Appropriations Committee has approved Senate Bill 2283, advancing legislation to legalize the therapeutic use of psilocybin for medical purposes. The bill, sponsored by Senate President Nick Scutari (D), comes after months of deliberation and amendments that shifted the focus from adult recreational use to strictly medical applications.

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