Week In Review: Ireland Could Make Great Cannabis Policy; Massachusetts Deliberates Social Consumption Regulations for Cannabis Industry; Safe Harbor Financial and Würk Form Partnership to Enhance Cannabis Industry Services; Planet 13 Grants Restricted Stock Units to Leadership and Staff

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#) Ireland Could Make Great Cannabis Policy: Examining the Past to Look Forward: The U.S. Sentencing Commission’s 2024 Sourcebook of Federal Sentencing Statistics reveals a continued decline in federal marijuana trafficking cases. In 2024, fewer than 500 individuals were charged, marking a significant decrease from nearly 3,500 cases in 2015 and approximately 5,000 in 2013. ​

2#)Massachusetts Deliberates Social Consumption Regulations for Cannabis Industry: The Massachusetts Cannabis Control Commission (CCC) is progressing with plans to establish regulations for social consumption of cannabis, aiming to balance industry growth with public health and safety considerations.

3#)Safe Harbor Financial and Würk Form Partnership to Enhance Cannabis Industry Services: Safe Harbor Financial, a fintech company specializing in financial services for the regulated cannabis industry, has entered into a strategic partnership with Würk, a human capital management firm focused on the cannabis sector. The collaboration aims to provide cannabis businesses with access to compliant financial services and workforce management solutions.​

4#)Planet 13 Grants Restricted Stock Units to Leadership and Staff: Planet 13 Holdings Inc., a vertically integrated multi-state cannabis company, has allocated 13,776,345 Restricted Stock Units (RSUs) to its officers, directors, and employees. The distribution, executed on March 31, 2025, aligns with the company’s 2023 Equity Compensation Plan, previously approved by shareholders. ​

5#) Mississippi Dispensary Owner Challenges State’s Medical Cannabis Advertising Ban in Supreme Court: In March 2025, Clarence Cocroft, owner of Tru Source Medical Cannabis in Olive Branch, Mississippi, petitioned the United States Supreme Court to review the state’s prohibition on advertising for medical cannabis businesses. This action follows a November 2024 decision by the 5th U.S. Circuit Court of Appeals, which upheld the state’s restrictions, citing the federal illegality of cannabis as justification for limiting related commercial speech. ​

6#)IM Cannabis Corp Reports Significant Growth in German Market: IM Cannabis Corp has reported a 25% increase in revenue for the fourth quarter of 2024, reaching €13.3 million, compared to the same period in the previous year. This growth is largely attributed to the company’s strategic focus on the German market, where sales surged by 183% during 2024, totaling $15.5 million, up from $5.5 million in 2023. ​

7#)The History of Sungrown Cannabis in California: California’s connection to cannabis resembles a fabulous legend that blends the state’s lush landscapes with the determination of its people. Sungrown cannabis, cultivated under the open sky and fueled by the full power of sunlight, is more than just a plant. It is a way of life, a connection with nature, and a legacy deeply rooted in the storied past of California.

8#)Cannabis Extract Shows Potential in Reducing Neuroinflammation After Spinal Cord Injury: A recent study published in the journal Neuroscience indicates that a cannabis extract containing both tetrahydrocannabinol (THC) and cannabidiol (CBD) may significantly reduce neuroinflammation and improve motor function following spinal cord injury. ​

9#)Brazil’s Cannabis Industry Advances Amid Legal and Research Developments: Brazil is witnessing significant progress in its cannabis industry, marked by legal reforms and dedicated research initiatives. The National Health Surveillance Agency (ANVISA) has authorized the importation, manufacturing, and sale of cannabis-based medicines, expanding patient access to treatments. However, domestic cultivation remains prohibited, necessitating reliance on imported products or extracts.

10#)Texas Senate Advances Legislation to Ban THC Products: The Texas Senate has approved Senate Bill 3 (SB 3), a measure aimed at prohibiting the sale of products containing tetrahydrocannabinol (THC), the psychoactive component found in cannabis. The bill, authored by Senator Charles Perry of Lubbock, received a 24-7 vote and now moves to the Texas House for consideration. ​

Psychedelic Sector Update

1#) Study Reveals Proliferation of Psilocybin Dispensaries in Canadian Urban Centers: The New Mexico Senate has approved the Medical Psilocybin Act (Senate Bill 219), a bipartisan initiative aimed at establishing a regulated program for the therapeutic use of psilocybin, the psychoactive compound found in certain mushrooms. The bill, which received a 33-4 vote, now awaits consideration in the House of Representatives.​

2#)Psilocybin Law Reforms Gain Momentum Across the United States: Efforts to reform psilocybin laws are accelerating nationwide, with several states making significant strides toward decriminalization or legalization of the psychoactive compound found in “magic mushrooms.”​

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