This week in cannabis news highlights significant developments in regulations and industry dynamics across various regions, with a focus on Texas, the DEA’s recent findings, and changes in Argentina’s medical cannabis framework.
Texas Hemp Ban Threatens Jobs. On Wednesday, the Texas House voted late into the night to pass Senate Bill 3 (SB 3), which prohibits all hemp-derived THC products statewide. This legislation, supported by Lt. Gov. Dan Patrick, criminalizes any product containing THC or THCA. A Texas Politics Project poll indicates that about half of Texans oppose this measure, which threatens around 50,000 jobs in the state’s hemp industry, valued at approximately $268 million in tax revenue. Industry advocates are urging Governor Greg Abbott to veto the bill. Meanwhile, House Bill 46 (HB 46), which seeks to expand Texas’s Compassionate Use Program by adding qualifying conditions such as chronic pain and allowing more methods of administration, remains under consideration. However, HB 46 maintains the existing 1% THC cap and prohibits flower consumption.
DEA Report Critiques Legal Cannabis Markets. The Drug Enforcement Administration (DEA) recently released its 2025 National Drug Threat Assessment, criticizing state-legal cannabis programs for being exploited by drug cartels. Notably, the report also acknowledges that the demand for illicit cannabis is primarily fueled by states that maintain prohibition. This contradiction raises questions about the need for federal cannabis reform. During confirmation hearings, DEA nominee Terrance Cole described the review of cannabis scheduling as a top priority but did not commit to a specific position.
Argentina Revamps Medical Cannabis Regulations. In a significant policy shift, Argentina’s Ministry of Health has issued Resolution 1780/2025, which overhauls the cannabis cultivation registry known as REPROCANN. This new framework introduces updated rules for nonprofit growers, research institutions, and third-party cultivators, while also mandating training and digital registration for physicians prescribing cannabis. Patients with existing registrations can keep them for up to three years, but new registrants will face stricter one-year renewal requirements and increased oversight.
Corporate Movements in the Cannabis Sector. In corporate news, Blüm Holdings, Inc. (OTC: BLMH) has signed an agreement to acquire 100% of a holding company with an indirect stake in Cookies Creative Consulting & Promotions, Inc. for approximately $562,500. This acquisition aims to strengthen Blüm’s association with one of the industry’s most recognized brands. In another move, Village Farms (OTC: VFF) is spinning off its fresh produce segment to focus on cannabis, establishing a new joint venture called Vanguard Food LP that will unlock $40 million in cash.
Challenges for Canadian Cannabis Operators. In Canada, the Cannabis Council has reiterated calls for reforming the cannabis excise tax model, which a Deloitte report indicates is hindering legal operators. The Cannabis Council advocates replacing the current $1 per gram tax with a 10% ad valorem tax to better align with market prices.
International Representation and Market Expansion. Toronto-based GrowerIQ has been selected by Global Affairs Canada to participate in a trade mission to Thailand, marking it as the sole cannabis company in the delegation. Thailand’s cannabis market, legal since 2022, is projected to grow at a 33% compound annual growth rate over the next five years.
Tilray Brands (NASDAQ: TLRY) also expanded its footprint in Europe by launching its ‘Good Supply’ brand in Germany, offering strains such as Snow Leopard, Purple Octane, and Lemon Haze Gelato, which will be available through pharmacies via prescription.
Financial Reports from the Sector. Planet 13 Holdings (OTC: PLNH) reported $28 million in revenue for the first quarter of 2025, representing a 22.5% year-over-year increase, although gross margins fell to 42.8%. Vext Science (OTC: VEXTF) saw its revenue climb 38% to $11.6 million, with operating cash flow reaching $3.1 million, driven by strong performance in Ohio and resilience in Arizona’s retail market.
Upcoming Events. The Benzinga Cannabis Capital Conference, taking place in Chicago from June 8-10, will feature networking and mentorship opportunities for women-led groups such as Women Grow and Verdant Strategies. The #InvestInHER Lounge aims to increase visibility and funding access for women founders in the cannabis industry.
This week’s cannabis news underscores the evolving regulatory landscape and its implications for businesses and consumers alike. As states like Texas move to impose stricter regulations, the call for reform at the federal level and in other countries continues to grow.
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