AGP Executive Report

Hemp Industry Strain: Tennessee’s hemp sector is facing a reported collapse months after a new law, while a Virginia hemp retailer has closed a store under new state rules and a brewery is bracing for the loss of hemp-derived THC sales. Federal Rules: Congress has delayed enforcement of tighter hemp restrictions until Dec. 11, offering businesses a short reprieve as advocates push for a compromise and clearer product standards. State Regulation: Kentucky lawmakers are weighing a more unified hemp oversight system, with testing consistency and licensing fees among industry concerns. Cannabis Market: Michigan marijuana sales fell 3.4% in the latest reported month, to $242 million, as ounce prices slipped below $60.

Kentucky Licensing: Hemp businesses urged lawmakers to cut licensing costs, with one operator saying fees exceed $13,000 a year. Proposals include combining permits and lowering shipping fees as the state weighs tighter enforcement. Federal Rules: New restrictions on intoxicating hemp-derived THC products are set to take effect Dec. 11, threatening a reported $200 million market. The changes target certain THC products, not CBD broadly. Business Fallout: Somerset brewer Oliphant Brewing is bracing for lost sales from THC drinks and gummies, while Virginia’s 2-milligram THC-per-package limit has helped force Manassas retailer District Hemp to close after nine years.

Federal Hemp Rules: The new U.S. hemp definition is delayed until Dec. 11, but the shift to counting total THC—including THCA—and a 0.4mg-per-container cap could force many hemp-derived products off shelves. THC-free CBD appears to have the clearest path, while exporters may need to redirect supply. CBD Market Expansion: MediPharm Labs has shipped its first CBD metered-dose inhaler to Panama, extending its reach into regulated medical markets. Business Moves: Elixinol Wellness is buying Australian supplement subscription platform Vitable in an all-share deal, adding recurring direct-to-consumer sales as the hemp-rooted company broadens its wellness business.

Federal Hemp Rules: A federal crackdown on hemp-derived THC products is delayed until Dec. 11, but the tighter definition could force CBD and THC products off shelves and reshape a fast-growing market. Local Market Moves: Santa Barbara County reported a $500,000 late-year boost in cannabis revenue, bringing 2025–26 receipts to $5.8 million. Virginia Beach is gathering input on retail cannabis zoning ahead of Virginia’s planned July launch, while Willows voters will decide whether to tax cannabis businesses up to 10% of gross sales. CBD Expansion: MediPharm Labs shipped its first CBD metered-dose inhalers to Panama, extending its international medical cannabis reach. Regulatory Tensions: Oklahoma lawmakers heard calls for more time before adding medical cannabis rules, amid patient concerns about testing and product safety.Meanwhile, the federal marijuana rescheduling process remains paused as the DEA reviews a new report, adding uncertainty for businesses.

CBD Medicine: Avecho’s Phase III insomnia trial passed an interim review and has resumed recruitment, keeping its bid to launch Australia’s first over-the-counter CBD medicine alive. Global Expansion: MediPharm Labs shipped its first CBD metered-dose inhaler to Panama, extending its medical cannabis reach. Hemp Rules: Federal restrictions due in December are raising alarm across the hemp sector, with businesses warning the changes could disrupt cannabinoid products and threaten jobs. Manufacturing: Tilray Medical won approval to conduct quality testing in-house at its Portugal facility, a move expected to speed product release across regulated markets.

Federal Hemp Rules: Congress has pushed sweeping restrictions to Dec. 11, but the delay offers little relief to businesses. North Carolina’s $3.2 billion hemp sector and Michigan retailers warn that limits on THC and some CBD products could force major changes; Michigan advocates want an age-based approach instead. CBD Exports: MediPharm Labs shipped its first CBD metered-dose inhaler to Panama, expanding its presence in regulated medical markets. Product Transparency: The Hemp Doctor says it is making lab test results publicly available, as scrutiny of hemp-derived products grows.

Hemp Regulation: Proposed federal restrictions on THC products are raising alarms across the hemp sector, with North Carolina’s multibillion-dollar industry and Wisconsin businesses bracing for fallout. Texas has also scheduled a hearing on smokable hemp. CBD Wellness: High-strength CBD topicals are gaining traction in the wellness market, while The Hemp Doctor is highlighting lab-tested products and public certificates of analysis. Medical Cannabis: Cann Group says its first product made from Australian-grown cannabis is packed and undergoing stability testing, with supply agreements in the UK and Europe. Tilray’s revenue rose, led by its BrewDog business, but cannabis revenue fell and the company reported a net loss. Market Rules: Hemp production and marketing rules remain a sticking point in EU talks on post-2027 agricultural market regulations. Policy Watch: Massachusetts voters will decide whether to end legal recreational marijuana retail sales, while Washington officials are seeking public comment on easing medical cannabis businesses’ access to federal rescheduling benefits.

Hemp’s Federal Cliff: North Carolina and Wisconsin hemp businesses are bracing for federal restrictions due Dec. 11 that could outlaw many THC-containing products, with the new limit set at 0.4 milligrams of THC compounds per consumer container. North Carolina’s industry is estimated at more than $3 billion. CBD Transparency: The Hemp Doctor is promoting lab-tested products and public certificates of analysis, as customers and regulators scrutinize cannabinoid products. Rescheduling Access: Washington state regulators are seeking public comment on a proposed certification process that could help medical cannabis businesses document eligibility for benefits under federal Schedule III rules; the proposal is not yet in effect. Sales Shift: Illinois dispensaries sold a record number of adult-use items in July, but annual sales revenue fell to about $1.5 billion as greater supply and discounts pushed prices down. Cannabis tax receipts dipped slightly to $456 million. Texas Legal Fight: Hemp businesses challenging the state’s smokable-hemp ban are due in court Dec. 8, as steeply higher licensing fees add pressure on retailers and manufacturers.

Product Transparency: The Hemp Doctor says it now publishes independent lab certificates across its CBD, pet and other product lines, letting shoppers check potency and contaminants before buying. Hemp Policy: A marijuana reform group is urging Congress to protect hemp-derived THC products as new federal rules loom, keeping regulatory uncertainty in focus for hemp businesses. Australian Cannabis: Little Green Pharma has completed its all-share merger with Cannatrek, creating a larger group spanning cultivation, manufacturing, clinics and exports. Clinical Research: Neurotech International has dosed the first child in its pivotal trial of a cannabinoid-based autism treatment, a milestone for its development program. Community Investment: Vermont’s Magic Mann says its community fund has distributed more than $175,000, including over $75,000 for Indigenous people and organizations.

Community Investment: Vermont cannabis company Magic Mann says its local and Indigenous fund has distributed more than $175,000 since 2020, including over $75,000 to Indigenous causes. Market Pressures: Illinois cannabis retail sales fell to about $1.5 billion in fiscal 2026 from nearly $2 billion, while tax revenue slipped 3.6% to $423 million; a switch in tracking systems complicates year-over-year comparisons. Industry Growth: A planned 175-billion-won investment in South Korea’s Andong aims to build a hemp-to-pharmaceutical supply chain, including CBD ingredients. In Minnesota, Cohasset grower M.N. Technology has begun its first harvest and plans a roughly $25 million facility expansion. Regulatory Risks: New THC rules are forcing Ohio retailers to pull products, while a proposed federal hemp restriction threatens the wider market. A federal court also granted emergency relief to help keep The Cannabis Place dispensary open in Jersey City.

Licensing & Expansion: A federal judge temporarily blocked the expiration of The Cannabis Place 420’s Jersey City license, allowing the dispensary to stay open during its dispute with city officials. Green Thumb opened its 25th Florida RISE store, while Colorado brand Spherex bought two cultivation sites to bring production in-house. Hemp-Derived THC: The industry faces a December federal deadline that could sharply restrict sales, putting a reported $28 billion market at risk. A reform group is urging Congress to keep hemp THC products legal. Sales & Rules: Tilray reported first-quarter revenue growth, with its recent BrewDog acquisition boosting beverage sales. Ohio’s new retail restrictions have forced stores to pull products, while Washington officials adopted a petition to help cannabis companies navigate federal registration. Medical Cannabis: New Jersey enacted reforms to expand access to medicinal cannabis, and New York regulators approved a trial of oral THC for sciatica-related pain.

Licensing Fight: A federal judge temporarily blocked Jersey City from letting The Cannabis Place 420’s municipal license expire, allowing the dispensary to stay open while its lawsuit proceeds. Retail Expansion: Green Thumb opened its 25th Florida RISE location in Cape Coral, while Colorado brand Spherex agreed to acquire two cultivation facilities to build a vertically integrated business. Hemp Policy: Hemp THC businesses face a December federal deadline that could sharply restrict the market; reform advocates are urging Congress to keep these products legal. Ohio retailers are also pulling products under new THC rules. Company Results: Tilray reported a 20% revenue rise in its first quarter of fiscal 2027.

Hemp Rules: Federal restrictions on hemp-derived THC are sharpening uncertainty for the sector. Reform advocates are pressing Congress to keep hemp THC products legal, while Lillie&Lee has launched a THC-free CBD isolate for dogs ahead of the new rules. Rescheduling Fight: The DOJ and opponents of marijuana rescheduling agreed to a court timetable, with briefing set to finish by mid-February and oral arguments to follow. Massachusetts Vote: Question 8 would repeal adult-use cannabis sales, putting a market with about 400 dispensaries and an estimated $330 million in tax revenue at risk; voters decide Nov. 3. CBD & Care: Opponents and a pharmaceutical company are asking a court to block the Trump administration’s plan to cover CBD through Medicare. Humboldt Business: The growers alliance has reopened its executive director search as it looks to expand from policy advocacy into market development. New Venture: A profile spotlights a 21-year-old who turned career setbacks into a CBD business.

Massachusetts Ballot: Question 8 could repeal adult-use cannabis sales on Nov. 3, putting an estimated $8 billion industry and roughly 600 businesses at risk. Ohio Rules: New product and packaging restrictions are forcing dispensaries to pull inventory, adding pressure as Ohio prices average 3.6 times Michigan’s. Hemp THC: A federal delay moves the threatened restrictions to Dec. 11, buying operators time but leaving the sector’s future uncertain. Federal Access: Washington officials adopted an industry-backed plan to ease cannabis companies’ federal registration, while the DEA opened registration forms for medical cannabis manufacturers, distributors and testing labs. Tilray Results: The company posted record quarterly revenue, lifted by beverage and pharmaceutical distribution, even as cannabis sales remained under pressure.

Pakistan Market Rules: SECP and the Cannabis Control and Regulatory Authority have set a licensing pathway for medicinal and industrial cannabis firms, requiring regulator approval before incorporation and for key company changes. CBD for Pets: Lillie&Lee has launched a THC-free CBD isolate for dogs as federal hemp rules approach; a new Maryland law also limits veterinary board action over veterinarians discussing cannabis and CBD. Federal Hemp Deadline: U.S. rule changes expected in December threaten the hemp-derived THC market, putting pressure on businesses to prepare for a tighter regulatory landscape. Tilray Results: Quarterly revenue climbed 23% to $257.1 million, led by beverage growth and international cannabis sales; wellness revenue was flat amid hemp seed supply constraints. Industry Oversight: New Zealand’s financial regulator revoked an auditor’s licence over failures tied to the audit of medicinal cannabis firm Greenfern Industries, which later entered receivership.

Federal Hemp Rules: A November 12 shift to a stricter total-THC standard puts the $28 billion hemp-derived THC market at risk, forcing brands to rethink products and sales. Lillie&Lee is positioning for the change with a THC-free CBD isolate for dogs. State Policy: Massachusetts’ Question 8 would repeal recreational cannabis legalization; the industry has generated $10 billion in gross sales, while repeal supporters have drawn millions largely from anti-cannabis group Smart Approaches to Marijuana. The state’s Cannabis Control Commission is marking the market’s 10th year and nearly $2 billion in tax revenue. Company Results: Tilray reported record quarterly revenue and gross profit, led by beverages and pharmaceutical distribution, even as cannabis sales shrank. Patient Access: New Jersey signed legislation to reform its medical cannabis program and expand patient access.