High Five
Missouri AG files 4 hemp-shop lawsuits as judge clears state THC limits for Nov. 12
Missouri Attorney General Catherine Hanaway sued four retailers accused of selling marijuana labeled as hemp, including a St. Louis County store whose "hemp flower" tested at about 4% delta-9 THC versus a labeled 0.28%. The same day, a federal judge dismissed the Missouri Hemp Trade Association's challenge to House Bill 2641. Starting Nov. 12, finished hemp products are capped at 0.4 mg THC per container, and intoxicating products must move through licensed dispensaries.
Why it matters: Licensed Missouri operators stand to recapture THCA flower and edible demand from smoke shops, while hemp sellers face more lawsuits once the law takes effect.
DEA says it cannot register any D.C. medical dispensary after granting 900 registrations in 7 states
The DEA issued an Order to Show Cause denying a Washington, D.C.-area medical dispensary's Schedule III registration, saying it cannot register any D.C. dispensary because the District lets patients self-certify instead of requiring written certification. The agency has registered 900 dispensaries in seven states but has not named them or disclosed how many applications it has rejected. Curaleaf, Green Thumb, Jushi, Planet 13, Trulieve and Vireo say they received registrations.
Why it matters: Medical programs without physician certification may not qualify for federal registration and its tax benefits until adult-use rescheduling arrives.
LA Times tests 49 California cannabis products and finds pesticides the state does not screen for
A new round of testing commissioned by the Los Angeles Times found most of the 49 products clean of the chemicals California regulators screen for. Three brands from one manufacturer still contained significant pymetrozine, and the tests turned up toxins that earlier testing had not detected. The state agency oversees more than 2,500 licensed cultivators and usually takes months to test suspect products and years to shut down violators.
Why it matters: Brands that rely on California's state lab panel as proof of safety face recall and reputational risk if regulators widen screening or step up enforcement.
Green Thumb posts $324.4M Q3 revenue, up 11.3%, as Schedule III cuts tax bill to $28.1M
Green Thumb Industries reported third-quarter revenue of $324.4 million and normalized EBITDA of $89.4 million, or 27.6% of revenue, but a GAAP net loss of $4.8 million. Same-store sales across 108 stores rose 3.0%, the first gain since Q3 2024. Income tax expense fell to $28.1 million from $49.1 million, which the company attributed mainly to medical cannabis moving to Schedule III. It ended the quarter with $316.0 million in cash and $177 million in senior debt.
Why it matters: This is one of the first hard numbers showing what partial 280E relief is worth to a multistate operator with a large medical footprint.
New Hampshire Democrats draft new legalization bill after winning 292 House and 15 Senate seats
State Rep. Jared Sullivan is drafting a new adult-use legalization bill after Democrats won both legislative chambers. His earlier bill, HB 186, passed the House in January before the Republican Senate tabled it 15 to 9. Republican Gov. Kelly Ayotte, who won reelection, still opposes legalization. With all 24 senators voting, a veto override would need just one Republican vote if all 15 Democrats vote yes.
Why it matters: New Hampshire is the last New England state without legal adult-use sales, so a 2027 law would open a new market bordering Massachusetts, Maine and Vermont operators.