Legislative Shifts · Licensing Windows · Clinical Trials · Market Intelligence
GET THE CIRCULAR BRIEFUpdated February 26, 2026 — 6:42 AM ET
The December 18th executive order sets a 90-day clock for federal agencies to implement a regulatory framework. If Section 280E relief follows, it would be the single largest profitability event in the industry's history. We spoke with three CFOs already modeling the impact.
Sales are down 18% quarter-over-quarter in the state's largest markets. Pre-roll and beverage categories are holding better than flower, where per-gram prices have compressed to $5.72. We have the full breakdown.
"The 280E repeal isn't just a tax story. It's a capital markets story. The moment that passes, institutional money enters a sector that's been locked out of conventional financing for a decade."
The 340-patient trial is tracking response rates in treatment-resistant epilepsy patients. Preliminary data from the 90-day cohort shows a 41% reduction in monthly seizure frequency — numbers that could reshape scheduling arguments at the FDA.
Top 10 Industry Moves — This Week
Schedule III fallout, New York's $15M relief fund, Michigan's tax crater, and seven other developments your competitors are already acting on. One PDF. No noise.
The Office of Cannabis Management misinterpreted school proximity rules, approving locations that now require relocation. Operators we spoke with say the $250,000 cap doesn't cover actual costs in Manhattan zip codes.
Legal sales are growing, but so is the gray market. We map which counties have the worst compliance enforcement gaps and what operators in LA are doing to compete on price without racing to the bottom.
The July 1st cutover date passed without the system failures many feared. But the transition exposed data gaps in cultivation records that the IDFPR is now investigating at 23 facilities.
The $4.2M grant pool targets studies on cannabis as an opioid adjunct therapy. With Schedule III reclassification on the horizon, researchers say this is the best-funded cycle in a decade.
Three bureaus. Every angle covered.
Tracking every licensing window, regulatory shift, and legislative session that affects your operations.
Combined medical/adult-use licenses, reduced home grow to six plants, and a hard cap on retail locations — the most sweeping state restructuring of the year.
The first adult-use sales could begin as early as November under the new legislative framework. We map the white space.
HB 110 cleared the final administrative hurdle. The first adult-use sales are expected within 60 days.
Peer-reviewed research, trial enrollments, and the science reshaping how regulators think about cannabis.
The 200-patient expansion targets combat veterans and first responders. Results from the Phase I cohort showed a 38% reduction in PCL-5 scores at 12 weeks.
The discovery could explain why whole-plant extracts outperform isolates in inflammatory bowel disease trials — and has implications for product formulation.
Capital flows, M&A activity, pricing data, and the financial intelligence operators and investors need.
The Cannabis Control Commission voted on December 11 to finalize licensing frameworks for on-site consumption. We break down the application requirements and fee structure.
What used to be rounding errors are now $2.4B in annualized revenue. Flower is still dominant, but the margin story has inverted.
The bipartisan letter puts Senate leadership on record. We track the vote count, the holdouts, and what operators should do in the meantime.
Chronicle reporting cited by