Cannabis Briefs for February 18, 2025
February 18, 2025•Terrance Cole has been named Drug Enforcement Agency administrator, replacing acting agency head Derek Maltz. Cole, a 20-year veteran of the agency, appears to be staunchly against cannabis, sharing concerns about the potency of modern cannabis and potential psychiatric problems. Currently Cole serves as Virginia’s Secretary of Public Safety and Homeland Security, overseeing the state’s Cannabis Control Authority. While Cole did not publicly weigh in on former President Biden’s moves to reschedule cannabis, his stated positions on the issue appear to present challenges for national reformers.
•Roughly 70% of cannabis consumers plan to spend about the same amount of money on cannabis in 2025 as they did in 2024, according to a new survey conducted by YouGov. The survey, commissioned by financial services firm BankRate, polled respondents on cannabis, alcohol, nicotine, the lottery, casino gambling, and sports betting, recording answers from 2,115 Americans. While only 28% of respondents indicated that they purchase cannabis, 68% of those who did said that they would continue to spend the same amount of money, with 21% of cannabis buyers indicating that they planned to spend more. Cannabis buyers were more likely than alcohol and tobacco buyers to say that they planned to spend more in 2025.
•Canopy Growth has expanded its Deep Space Propulsion beverage line with two new flavors: Rocket Root Beer and Charged Cream Soda. The drinks contain 10-mg. of THC, 10-mg. of CBG, and 30-ml. of caffeine and come in 355-ml. cans. The new drinks expand the brand’s lineup, which previously included Blue Sourberry and Altitude Lemon Lime. The new drinks are now available in medical and adult-use dispensaries across Canada.
•Ohio adult-use sales reached just under $320 million in just six months of legality last year. During that time, Ohio’s cannabis industry expanded to field 37 cultivators, 46 processors, 9 testing labs, and 131 retailers across the Buckeye State. Ohio consumers are seeing the benefits of a fully operational market, with prices falling across categories. Flower, in particular, has seen a sharp drop, with prices down nearly 33%, according to the state. Ohio lawmakers have introduced Senate Bill 56, which would increase the state’s cannabis tax rate from 10% to 15% while also capping the number of retailers in the state at 350 and limiting homegrowers to six plants, down from 12.
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