The cannabis industry took another step toward federal redistricting this week, as the organization Smart Approaches to Marijuana (SAM) filed a formal petition, the first step in a legal challenge to the reclassification process. Hosted by Shad Dales and Anthony Varrell Trade to black The podcast presented by Flowhub breaks down the latest. We examine Curaleaf’s latest earnings and discuss whether Ohio’s $107 million hemp boom could be a preview of what hemp restrictions will do to Hirsh Jane in other state markets.

Curaleaf posted quarterly earnings showing net income of $324.2 million, up 6 percent year-over-year, with a gross profit margin of 49 percent and adjusted EBITDA of $63.4 million. Meanwhile, Ohio’s hemp market reached $107 million in April 2026, both a new monthly record and a 26% year-over-year jump.

Hirsh Jain of Ananda Strategy joined the show live from MJ Unpacked in Atlantic City. He attributed the growth to several converging factors, including an increase in initial sales, an expanded store count that now approaches 210 locations and, importantly, the state’s ban on intoxicating cannabis products in late March. On a daily basis, sales increased by approximately 9% between March and April immediately after the cannabis ban.

In New Jersey, the market has fallen short of its potential due to limited retail density, concentrated store locations, high consumer prices, and an unregulated cannabis market. The eventual launch of Pennsylvania’s adult-only market could further hurt New Jersey’s sales, just as the proximity of Massachusetts has long depressed Connecticut’s numbers. But is it possible that cannabis restrictions could help turn this situation around?

And finally, a quick update on the federal contribution. It’s been about a week since the DEA began accepting registration applications from state-licensed medical cannabis operators, and already more than 400 companies have gone through the system. It shows that the operators are taking it seriously and moving fast. There’s a lot going on right now, and this episode connects the dots.