Cannabis Briefs for March 25, 2025
March 25, 2025•The Texas State Senate has passed a new bill banning hemp-derived THC products in the Lone Star State. The bill, introduced by Republican Senator Charles Perry, would limit Texas’s legal hemp market to non-intoxicating CBD and CBG products. In addition to the main bill, a series of anti-cannabis amendments were adopted by the senate, including a requirement that hemp products meant for consumption be tested in Texas-based DEA labs, a state registry for hemp products, and an amendment to criminalize operating a hemp business without a state license. The bill now heads to the house, where its fate is uncertain.
•For February 2025, Michigan’s retail cannabis prices were down 29% compared to February 2024, according to the state’s regulatory body. For flower, the average price of an ounce was at $65.21 last month, a roughly $25 drop from February 2024’s average of just under $92. Overall cannabis sales in the state have slumped so far in 2025, with January reporting $247 million in sales and February coming in at $241 million, a drop of $18 million, year over year.
•A new report from Bloomberg Intelligence claims that roughly 75% of young adults in the U.S. are choosing cannabis over alcohol at least weekly. According to a chart of the data shared by cannabis investor Todd Harrison, 74% of 18-24-year-olds report skipping alcohol for cannabis at least once a week, compared to just 65% of 25-34-year-olds and 56% of 35-44-year-olds. The youngest demographic included in the Bloomberg survey includes underage consumers, potentially skewing the results.
•Twenty state attorneys general have asked Congress to address potential public health issues created by the hemp-derived THC market across the nation. The bipartisan group is fronted by two Republic AGs, Indiana’s Todd Rokita and Arkansas Attorney General Tim Griffin, but the group also includes many leading Democrats like California Attorney General Rob Bonta and Colorado’s Philip Weiser. In the letter, shared with Politico last week, the attorneys general write that the hemp-derived THC loophole has created markets without proper oversight, testing, and advertising regulations, without any legal recourse.
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