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FundCanna Secures $60M Credit Line to Expand Cannabis Lending

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Report: Indiana Residents Spend About $2B on Cannabis Annually Despite Prohibition  

Cannabis industry lending and financing solutions firm FundCanna announced this week that the company has approximately $75 million in equity, with $35 million immediately available, after securing a $60 million credit line from an institutional investment firm.

FundCanna’s new partner manages about $40 billion in assets, the company said in a press release.

“I’ve been lending to businesses for over 20 years, and cannabis has proven to be a stronger credit market than many expect. But it’s also one of the hardest markets to get right. The data is fragmented, the laws are inconsistent, and most lenders underestimate how diverse the cannabis industry can be. We’ve spent five thousand years building a space. That’s not easily replicated, and it’s a major reason that institutional capital has chosen to partner with FundCanna.” — Adam Stettner, founder and CEO of FundCanna, in a statement

Some of the capital will go toward scaling the company’s ReadyPaid service, a loan program that helps wholesalers get paid in advance while bulk buyers can get extended terms.

FundCanna says it has distributed more than $250 million in more than 5,000 transactions and is approaching $100 million in annual lending.

Based in Portland, Oregon, Graham is the editor-in-chief of Ganjapreneur. He has been writing about the legalization landscape since 2012 and has contributed to Ganjapreneur since our official launch in…

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Massachusetts High Court Allows Ballot Measure to End Adult-Use Cannabis Sales to Proceed

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Massachusetts High Court Allows Ballot Measure to End Adult-Use Cannabis Sales to Proceed

The Massachusetts Supreme Judicial Court ruled last week that the ballot question seeking to overturn the Commonwealth’s 2016 adult cannabis law will be sent to voters. NBC Boston reports. The proposal was opposed by some participants in the state’s social equity program, who argued that Attorney General Andrea Joy Campbell’s summary of the initiative left out key details and that she should not have certified the measure because it contains unrelated policy sections.

Justice Bessie Dewar, writing for the court, rejected the plaintiff’s arguments and ruled that Campbell “did not err in certifying the petition on any of the grounds asserted and that her summary of the petition is fair.”

“The Attorney General argues that the various parts of the petition all relate to the common goal of restricting the use of recreational marijuana through a new, integrated scheme to regulate marijuana. We agree and are not persuaded by plaintiffs’ arguments to the contrary.” – Dewar, on the decision, via NBC Boston

of final summary endorsed by Campbell says:

“The proposed law would change the type and amount of marijuana that can be legally possessed in Massachusetts by repealing laws that legalize, regulate, and tax the retail sale of marijuana for adult recreational use in Massachusetts. The proposed law would also allow persons 21 and older to possess 1 ounce or less of marijuana and no more than 5 grams of marijuana to transfer another gift Person 21 or older 1 ounce or less marijuana, including no more than 5 grams in concentrate form. The proposed law would also impose a $100 civil fine and forfeiture of marijuana for possession of between 1 and 2 grams of marijuana for youths who are 21. less marijuana a civil offense subject to a $100 fine, forfeiture of the marijuana, completion of a drug awareness program, and community service to their parents or legal guardian for the offense and fines The proposed law would allow adult recreational marijuana businesses to currently apply on an expedited medical basis to become their own expedited license The proposed law would retain the Cannabis Control Commission to regulate only the medical marijuana market.

According to a Bay State poll from the University of New Hampshire released in February, a majority – 63% – of Massachusetts residents oppose efforts to end adult sales in the state. The poll found that 20% supported the measure.

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Los Angeles Votes to Raise Taxes on Unlicensed Cannabis Shops

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Los Angeles Votes to Raise Taxes on Unlicensed Cannabis Shops

During the city’s recent midterm elections, Los Angeles voters approved Measure CB, which would require unlicensed cannabis distributors within city limits to pay taxes required of city-licensed vendors. NBC Los Angeles reports.

Currently, only licensed distributors must pay the city’s 10% cannabis business tax.

Voters approved the CB measure with 72% support. The measure was projected to raise between $30 million and $35 million in new tax revenue annually.

According to the report, the city also passed Measure TC, which closes tax loopholes for online hotel reservations.

Meanwhile, in March, the Los Angeles City Council asked The Finance Office drafted language to create an “amnesty” program for the city’s licensed cannabis businesses, which at the time collectively owed more than $400 million in back taxes and fees.

Based in Portland, Oregon, Graham is the editor-in-chief of Ganjapreneur. He has been writing about the legalization landscape since 2012 and has contributed to Ganjapreneur since our official launch in…

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Cannabis Industry News

Trulieve Set to List on NYSE

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Trulieve Set to List on NYSE

Multistate medical cannabis operator Trulieve Cannabis Corp. announced last week that the company expects to begin trading on the New York Stock Exchange (NYSE) under the symbol “TRLV” beginning June 10, 2026.

The announcement follows the rescheduling of state legal medical cannabis from Schedule I to Schedule III under federal law, creating new legal avenues and opportunities for state-licensed medical cannabis companies.

“As the first U.S. cannabis company to list on a major U.S. stock exchange, we are excited about the opportunity to expand our shareholder base, increase liquidity and increase awareness of the benefits of medical marijuana. President Trump’s sensible action to reclassify medical marijuana to Schedule III paved the way for this milestone. The NYSE is a major breakthrough and great progress for the NYSE industry.” – Kim Rivers, Founder and CEO of Trulieve, in a statement

Trulieve operates state-licensed cannabis businesses in Florida, Georgia, Pennsylvania and West Virginia.

The multi-state operator is listing on the NYSE after previously listing on the Canadian Securities Exchange (CSE) under the symbol “TRUL” and the OTCQX under the symbol “TCNNF”.

Trulieve donated heavily to Florida’s failed 2024 cannabis legalization, bringing over $140 million to the effort. The company also contributed $19.6 million to the unsuccessful 2026 campaign bid.

Based in Portland, Oregon, Graham is the editor-in-chief of Ganjapreneur. He has been writing about the legalization landscape since 2012 and has contributed to Ganjapreneur since our official launch in…

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