Daily Recap

The prevalence of cannabis use rose among older adults across the country, with notable increases for certain subgroups, according to a cross-sectional study.

Among nearly 15,700 adults ages 65 and older, the prevalence of past-month canna use rose from 4.8% in 2021 to 7% in 2023, according to a UCSD research letter.

A rise in use tied to certain medical conditions was also observed, including chronic obstructive pulmonary disease (6.4% to 13.5%), heart conditions (2.8% to 6.5%), diabetes (2.9% to 6.2%), hypertension (4% to 6.6%), and cancer (2.5% to 7.7%).

"Adults with the highest incomes initially had the lowest prevalence of cannabis use vs other income levels, but by 2023, they had the highest prevalence, which may indicate better access to medical cannabis given its costs."

California Dreaming

In a significant move for the state’s beleaguered canna industry, California lawmakers voted unanimously to pause an impending 25% tax increase that threatened to ramp challenges faced by legal canna businesses struggling to compete with illicit markets.

In a striking 74-0 vote, the legislation effectively prevents the substantial tax increase, set to take effect on July 1, from being imposed during a time when local cannabis businesses are already seeing a sharp decline in sales and tax revenue.

Florida Flounder

In two weeks, stricter regulations for all Florida-based hemp food operators will take effect. Starting June 16, an amended rule governing hemp for human consumption will be fully enforced, promising a “zero tolerance” for noncompliance.

Key changes include enhanced labeling requirements, comprehensive certificates of analysis, mandatory child-resistant packaging, marketing, and advertising restrictions, and prohibition on specific color additives.

Oh, Canada 🍁

The most recent, seasonally adjusted figures from Statistics Canada show that the cannabis industry’s contribution to Canada’s GDP was $9.104 billion in the first three months of 2025. This is an increase from $8.3 billion in 2024.

Licensed cannabis production saw a 10.6% increase from March 2024 to March 2025 and a 1.2% increase from February 2025 to March 2025, while the unlicensed sector saw a 4.5% and 0.2% decrease, respectively.

Stocks & Stuff

Stocks rallied on Wall Street after data showed the U.S. labor market is holding up despite recent tariff tantrums. Cannabis names were again mixed, with Canadian names again higher—led by Village Farms—while U.S. names continue to languish.

Below, we’ll top-line the landscape on both sides of the border, sniff at the beltway banter, explain why canna can’t compete with the D.C. crypto script, and check on the Canadian pricing trends.

All that and more, just scroll down.

SPY 0.00%↑ QQQ 0.00%↑ IWM 0.00%↑ MSOS 0.00%↑ ETF Notional: $5M

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