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Marijuana Business Owner Running For Congress Says Federal Legalization Is The ‘Only Path’ For ‘National Market Stability’

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5 months ago

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Colorado-based marijuana entrepreneur Wanda James is running for Congress, pledging to push for an end to the federal ban on cannabis if elected. Anything outside of legislation (whether it’s a bill focused on industry bank access or other incremental reform like rescheduling) won’t cut it, he says.

James, who owns the Simply Pure dispensary in Denver, is challenging Rep. Diana DeGette (D-CO) in next year’s Democratic primary to represent Colorado’s 1st congressional district in the U.S. House of Representatives. He spoke about his cannabis legalization platform at an MJBizCon event on Wednesday.

“No bank bill will save us. No half-step will fix it. No amount of tweaking will correct decades of damage,” he said in a press release ahead of the speech. “Only legalization gives oxygen to this industry.”

“Only legalization ends 280E. Only legalization ends raids. Only legalization ends fear,” he said, referring to the policy that prevents cannabis businesses from taking federal tax deductions and generally puts businesses at risk of federal enforcement action. “Only legalization stops the piecemeal nonsense that destroys operators while confusing the public.”

“And let me be very clear about something else,” he said. “This is not a battle between hemp and cannabis. It’s the same plant. The same history. The same communities. The same families. The same lack of respect. It’s time to send it to Congress that will step up the momentum our industry demands.”

In a statement on his campaign site, James also said he will “champion legislation to completely remove cannabis from the Controlled Substances Act (CSA)” if elected. Rescheduling the plant or kicking the can down the road with “administrative delays” is not enough, he said.

“Full legalization. PERIOD,” he said. “This is the only way forward with federal safety standards, interstate commerce, banking access and national market stability.”

“In Congress, I will work with reform officials, veterans from both parties, and economic innovation committees to ensure that legalization is implemented quickly, safely, and with strong public health and consumer protections,” James. add.

The campaign statement also said James will push for legislative reform that boosts marijuana tax revenue for community reinvestment initiatives that support “affordable housing, mental health services, child care assistance, public school improvements and neighborhood economic development.”

“This approach ensures that legalization becomes a tool to lift up families, support workers, and rebuild ALL communities damaged by decades of discriminatory and wasteful enforcement,” he said.

The candidate also said he will “promote a federal equity framework that ensures priority licensing, business development assistance and access to federal grants and low-interest capital for communities disproportionately impacted by criminalization.”

James said the regulatory approach to marijuana he would adopt would prevent “corporate consolidation from wiping out the small operators and the pioneers who built this industry.”

“I will fight for antitrust protections, access to federal loans and fair trade rules between states that allow small businesses to compete without being crushed by multinationals,” he said. “And I will push for clear federal packaging, testing and transportation standards so entrepreneurs can responsibly scale across state lines.”

Also, as a military veteran, James said that doctors at the US Department of Veterans Affairs (VA) can recommend medical cannabis to the veteran population “without fear of penalties or bureaucratic hurdles.”

In 2023, James approached then-Senate Majority Leader Chuck Schumer (D-NY) at an event focused on higher education and higher education. supported marijuana banking legislationpointing out how black business owners in the industry broadly support additional reform to free up banks and credit unions to work with state-licensed cannabis companies.

“I would love to see more and more movement on this. Make no mistake about it, first and foremost, we need to get grassroots banking in place,” he told Marijuana Momenti at the time, adding that his personal bank accounts were recently closed due to his involvement in the marijuana industry.

James is also a regent-elect at the University of Colorado, and his role in the marijuana industry became a point of contention leading to formal censure by the Board of Regents, who criticized an ad campaign warning about the dangers of cannabis use as racist for its portrayal of blacks using marijuana.

“This is a victory for me because we have completely exposed the problems that the University of Colorado has with race,” he said. he said of the census “We’ve been able to bare it for the world to see, and I couldn’t be more proud of my community and the people who have stood up for the truth and stood up against Blackness.”

Colorado Attorney General Phil Weiser (D) responded to the board’s censure action, writing that “the First Amendment protects the right to free speech,” and that “no White House executive order or university public policy can override that fundamental right.”

“I’m concerned that the CU Board of Regents did that to punish Vice Chancellor Wanda James,” she said. “To protect the right to free speech and the fair treatment of CU Regent James, the Council of Regents would do well to reconsider the actions against him. Letting this action go into effect not only raises questions about fairness, but also weakens CD1’s representation on the Council.”

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Last year, Sen. John Hickenlooper (D-CO) called James is a “force of nature,” acknowledging his historic role in the marijuana policy debate and Colorado’s cannabis program.

DeGette, the incumbent congressman for whose seat James is running for, is also a supporter of marijuana reform. For example, legislation protects…as well as a pilot acquisitionto Avoiding federal interference with state cannabis laws.

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Cannabis operators report mixed results as rescheduling reshapes the financial outlook

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10 hours ago

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May 14, 2026

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The rescheduling came mid-quarter and rewrote the tax math for each medical sales operator, but the underlying revenue picture remained uneven in early 2026, with acquisitions driven at one end of the scale and continued top-line compression at the other.

Vireo Growth: Back on $106 million deal
Vireo Growth Inc. reported Q1 GAAP revenue of $106.2 million, up 333.5% year-over-year, driven almost entirely by recent acquisitions rather than organic growth. The company completed the Schwazze acquisition in March, adding 45 dispensaries and two manufacturing facilities in Colorado and New Mexico. At the end of the quarter, it closed Eaze and Hawthorne Gardening, FLUENT Corp. announced an acquisition agreement and executed a California dispensary joint venture with Glass House Brands. Treating all acquisitions as closed on January 1, 2025 on a pro forma basis, revenue was $210.2 million and adjusted EBITDA was $42.2 million. The company ended the quarter with $137.8 million in cash.

John Mazarakis, CEO of Vireo, said: “Performance in the first quarter met our expectations and we are excited to welcome Schwazze, Eaze and Hawthorne to Vireo. We are focused on integration and optimization across the platform, while remaining opportunistic regarding growth opportunities associated with further acquisitions.”

Cresco Labs: $151 million, 280E relief and Texas license
Cresco Labs reported Q1 revenue of $151 million, down from $165.8 million in Q1 2025. Adjusted gross margin was 50.7% and adjusted EBITDA margin of $33 million was 21.7%. Cash at the end of the quarter was $67 million against a $310 million secured term loan. The company was conditionally granted a Texas Compassionate Use Program license after the quarter ended and opened two new dispensaries in Ohio.

Management said, “Moving the state’s legal medical cannabis from Schedule I to Schedule III is the most impactful reform this industry has seen, and it validates the work we’ve been executing for years. We’ve built the operational foundation and balance sheet discipline to reap the immediate benefits of rescheduling, and position Cresco to take advantage of the broader path to normalization.”

Jushi Holdings: 4% growth, 460 basis point margin expansion
Jushi Holdings reported first-quarter revenue of $66.4 million, up 4% year-over-year, with gross profit margin up 460 basis points to 45%. Adjusted EBITDA was $11.4 million, up 17.2%. The margin improvement was driven by higher production volumes in Ohio, Massachusetts and Pennsylvania and the performance of grower processors. Jushi brand products accounted for 58% of retail revenue in vertical markets. The company refinanced $132.3 million in debt during the quarter, providing $160 million in new debt through 2029.

Jim Cacioppo, president and CEO, said: “The recent scheduling of state-licensed medical marijuana for Schedule III is an important milestone for the industry, eliminating 280E tax limitations for medical operations and supporting a more favorable long-term operating environment.” Medical sales accounted for about 60% of Jushi’s 2025 revenue, making this material relief.

iAnthus Capital: Revenue falls to $33.5 million
iAnthus Capital reported first-quarter revenue of $33.5 million, down $4.6 million from 2025’s first quarter. Gross margin was 47.5%, up 477 basis points from the 2025 quarter. The company did not provide a management comment in the press release.

Country farms: international export record, fourth consecutive quarter of net income
Village Farms International reported first quarter consolidated net sales of $50.2 million, up 27% year-over-year, with net income of $2.9 million and adjusted EBITDA of $9.9 million, up 118% year-over-year. International export sales increased 171% to a record $14.6 million, driven by demand for EU-GMP compliant products in Germany. Pure Sunfarms had the top Canadian market share in dried flowers for the 15th consecutive month. The company started planting the first half of its Delta 2 greenhouse expansion and expects its Phase II facility in the Netherlands to reach full capacity by the end of 2026, which would quadruple Dutch production.

Michael DeGiglio, President and CEO, said: “Our first quarter results reflect a strong start to the year and continued momentum in our largest markets, with adjusted EBITDA growth of 118% year-over-year, significantly outpacing revenue growth of 27%, driven by our international business and continued leadership in Canada.

Cronos Group: Record revenue, $822 million in cash
Cronos Group reported Q1 net income of $45.2 million, up 40% year-over-year and a record quarter, with net income of $15.7 million and adjusted EBITDA of $5.1 million. Israel led growth PEACE NATURALS grew 53% for ninth consecutive record quarter. In Canada, the Spinach brand took first place in vapes with a 9.8% share of the national market, and maintained its top spot in edibles at 20.8%. The company ended the quarter with $821.9 million in cash and authorized a new $50 million stock repurchase program. The deadline to close the acquisition of CanAdelaar, one of the ten licensed growers in the Dutch Controlled Cannabis Supply Chain Experiment, has been extended to September 9, 2026 to allow time for regulatory approvals.

Mike Gorenstein, chairman, president and CEO, said, “Cronos achieved net earnings and gross profit in the first quarter as we continue to execute against our unlimited product strategy and the additional supply from Cronos GrowCo’s expansion fuels the next phase of our growth.”

Org chart: Revenue down 9%, Sanity Group acquisition closes after quarter
Organigram Global reported fiscal second quarter net income of $59.8 million, down 9% year-over-year, with adjusted EBITDA of $0.9 million, down 82%. Lower vape and pre-infusion sales drove the decline, along with a $5.8 billion dent in the U.S. hemp business. The company achieved a record quarterly harvest of over 32,000kg at its Moncton facility, up 56% year-on-year, and launched 10 SKUs in Australia targeting over 4,000 pharmacies. At the end of the quarter, Organigram acquired Sanity Group, one of Germany’s leading cannabis companies, and updated its 2026 guidance to net revenue of more than $350 million.

James Yamanaka, CEO, said: “Q2 reflected our poor performance in vaporizers and temporary challenges in pre-infusion production, compounded by slower industry growth. We have acted quickly to address these issues, and the operational changes and product improvements we have implemented are already beginning to stabilize performance.”

Greg Guyatt, Chief Financial Officer, said: “The financial impact of the competitive and operational challenges encountered earlier in fiscal 2026 is believed to have materialized in the first half of the year, and we are now beginning to stabilize performance. We expect to resume a trajectory of margin expansion and improved profitability during the second half of the year, supported by positive revenue and international sales growth. The Sanity Group.”

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Medical Marijuana Helps Pain Patients Reduce Use Of Opioids, New Study Shows

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10 hours ago

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May 14, 2026

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As opioids continue to cause overdose deaths, a new study suggests that making medical cannabis available and affordable could help patients reduce their use of prescription painkillers.

“Although cannabis has historically been characterized as a potential ‘gateway drug,’ it may also serve as a harm reduction tool for some patients seeking to reduce their reliance on higher-risk opioid medications,” researchers at the University of Pennsylvania Perelman School of Medicine found.

The study, a prospective observational trial at the Hospital of the University of Pennsylvania, followed 29 adults over five months. All had been living with chronic pain for years—an average of 11 years—and were already taking opioid medications, but struggled to taper off of them despite other treatments.

The study is unique in its focus on cost as a factor in access to medical marijuana, with the researchers describing their work as “the first prospective observational study evaluating medical cannabis as an alternative to opioids in a setting where cost was removed as a major barrier.”

Participants were recruited from a university outpatient chronic pain clinic and then completed monthly pain assessments using the Numeric Pain Rating Scale (NRS). The researchers measured daily opioid use, measured in milligrams of morphine equivalents (MME).

“Seven patients (24%) were able to completely discontinue opioid therapy at the end of the study, five of whom did so by the second month. Pain levels also decreased over time,” the authors wrote.

Notably, “there was a statistically significant reduction in mean pain scores experienced over the five-month study period,” says the paper published in the Cureus Journal of Medical Science.

“There was also a reduction in average opioid consumption of about 32 MME per day, which remained the same throughout the follow-up. In addition, seven patients were able to completely discontinue opioid therapy during the study.”

“Mean daily opioid consumption decreased from 46.8 MME/day at baseline to 16.2 MME/day at one month and remained low during the five-month follow-up period,” the researchers found.

What set the new study apart was not just the inclusion of medical cannabis, but the deliberate removal of cost as a barrier. Participants “consistently identified cost as a major barrier to initiating medical cannabis” before enrolling in the study, the document says.

Noting the novelty of the study, they added their hypothesis: “Improving access to medical cannabis will allow a subset of patients, especially those with a high cost barrier, to reduce or discontinue opioid use while maintaining adequate pain control.”

“These results suggest that medical cannabis may be a useful adjunctive therapy to reduce opioid use, relieve chronic pain, and improve health-related quality of life,” they concluded.

“The findings of this study add to the body of literature supporting the safety profile and potential therapeutic role of cannabis.”

The studies the authors are cautious in their conclusions, warning of limitations and the need for further research. “The sample size was small and derived from a single clinical site, and there was no control group.” And because “patients self-titrate cannabis products, leading to variability in dosage and frequency of use,” the findings are not standardized.

But the authors concluded that “when used under appropriate medical supervision, medical cannabis may be an effective adjunctive strategy to reduce opioid use among patients receiving long-term opioid therapy.”

This study follows a Recent research shows that using medical marijuana helps people reduce their use of other drugs, including opioids.sleep aids and antidepressants. They also experience fewer negative side effects after switching from prescription drugs to cannabis, according to a study involving more than 3,500 patients.

It also comes from behind President Donald Trump says marijuana ‘can make people feel a lot better’ and serves as a “substitute for addictive and potentially lethal opioids.”

Last month, the Trump administration announced it moving forward with federal reclassification of marijuana medicinal cannabis is classified under Schedule I to III of the Controlled Substances Act.

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Livermore Falls debates cannabis licensing fees

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1 day ago

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May 13, 2026

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Existing medical cannabis licensing fees will be temporarily applied to recreational marijuana businesses, the Select Committee decided on May 5. Board members agreed 4-1 to the temporary change, as long as officials say the fees are higher than necessary and accurately reflect the town’s oversight costs.

Bryce Cobb, Livermore Falls’ code enforcement officer, plumbing inspector, health officer and E-911 dispatcher, said voters approved the amended cannabis ordinance on April 28. Cobb said the amended ordinance allows recreational marijuana businesses and the next step was to establish a fee schedule. Recreational cannabis businesses operating in town would require local licensing approval under the ordinance.

Asked if he had fee schedules from other towns to compare, Cobb said he did not. Additionally, the town’s fee schedule specifically mentions medicinal cannabis.

“So it could be medical and adult use,” Cobb said when discussing whether the existing fee structure could apply to recreational businesses.

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