Week In Review: Cannabis and Psychedelic Mushroom Kiosk at Brookfield Square Mall Draws Mixed Reactions; Cresco Labs Reports: Financial Results for Q4 and Full Year ending December 31, 2024; South Africa’s Department of Health Enacts Ban on Cannabis and Hemp Food Products

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) Cannabis and Psychedelic Mushroom Kiosk at Brookfield Square Mall Draws Mixed Reactions: A kiosk at Brookfield Square Mall in Brookfield, Wisconsin, operated by Waukesha-based Ethereal Gold Dispensary, has garnered attention for selling cannabis and psychedelic mushroom products. The presence of this kiosk has sparked a range of responses from the community.

#2) Cresco Labs Reports: Financial Results for Q4 and Full Year ending December 31, 2024: Cresco Labs Inc., a cannabis company, has announced its financial results for the fourth quarter and full year ending December 31, 2024.The company reported an operating cash flow of $132 million for the year, marking a 126% increase from the prior year. ​

#3) South Africa’s Department of Health Enacts Ban on Cannabis and Hemp Food Products: The South African Department of Health has implemented new regulations prohibiting the production, sale, and importation of foodstuffs containing components derived from the Cannabis sativa L. plant, including hemp, hemp seed oil, and hemp seed flour.This decision, published in a government gazette on March 7, 2025, falls under the Foodstuffs, Cosmetics, and Disinfectants Act of 1972.

#4) Glass House Brands Schedules Conference Call to Discuss 2024 Financial Results: Glass House Brands Inc., a vertically integrated cannabis company, has announced plans to release its financial results for the fourth quarter and full year ending December 31, 2024.The company will host a conference call on March 25, 2025, at 5:00 p.m. Eastern Time to discuss these results. ​

#5) Idaho Lawmakers Push to Restrict Citizen-Led Ballot Initiatives on Cannabis and Drug Reform: Idaho lawmakers have taken a significant step toward restricting citizen-led ballot initiatives related to cannabis and other drug reforms. The Idaho Senate recently passed a House-approved bill that would put a constitutional amendment before voters in the 2026 election. If approved, this amendment would strip the electorate of their ability to pass laws regarding cannabis legalization and drug policy changes, leaving such decisions solely in the hands of the Legislature.

#6) California Seizes $534 Million in Illegal Cannabis in 2024: In 2024, California enforcement officials seized illegal cannabis valued at approximately $534 million, underscoring the state’s commitment to regulating its cannabis industry. ​

#7) Blueberries Medical Corp. Announces C$1 Million Non-Brokered Private Placement: Blueberries Medical Corp., a Latin American licensed producer of medicinal cannabis and cannabis-derived products, has announced a non-brokered private placement to raise approximately C$1.05 million (approximately US$740,000). ​

Psychedelic Sector Update

1#) Vermont Senators Propose Expansion of Psychedelic Therapy Advisory Group: A group of Vermont state senators has introduced Senate Bill 106 (S.106), aiming to extend and expand the scope of the existing Psychedelic Therapy Advisory Working Group.The bill proposes to continue the group’s tenure, add new members, and broaden its mandate to further explore the potential of psychedelic-assisted therapies within the state. ​

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