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New Hampshire Senators Debate Bill To Legalize Marijuana, With Sponsor Saying Trump’s Rescheduling Move Means State Must Act

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1 month ago

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New Hampshire senators took up a bill Thursday to legalize marijuana in the state.

The Senate Judiciary Committee did not vote on the legislation, but members heard testimony for and against the measure.

If enacted into law, SB485 would allow adults 21 and older to possess four ounces of cannabis in plant form and 20 grams of concentrated cannabis products, as well as other products containing no more than 2,000 milligrams of THC.

“New Hampshire is now the only state in New England that has not legalized and regulated cannabis. Every one of our neighbors has figured that out,” Sen. Donovan Fenton (D), the bill’s lead sponsor, told the panel. “Meanwhile, we’re pretending the ban is working, while people legally drive to Massachusetts, Maine or Vermont and drive back home.”

President Donald Trump called the recent executive order to re-regulate marijuana “a clear signal that the federal government now recognizes what most of the Granite State knows: cannabis is not the same category as the most dangerous drugs, and should be managed with a smart, regulated adult approach.”

“So the question for New Hampshire is simple, do we lead or do we fall behind?” he said

Under the legislation, a Liquor and Cannabis Commission would be appointed to license and regulate marijuana businesses.

Cannabis sales would be taxed at 12.5 percent. The revenue would support a variety of programs and efforts, including offsetting the unfunded liability of the retirement system, public safety agencies, substance abuse programs and children’s behavioral health services.




The Marijuana Policy Project (MPP) predicts the bill will generate $27-$56 million in annual revenue once the market matures.

“Adults should be treated like adults in a live-or-die state. The Supreme Court has not banned eating junk food, being sedentary, rock climbing, riding motorcycles or drinking alcohol, despite the dangers these activities pose,” MPP state policy director Karen O’Keefe said in written testimony. “The Granite States fully agree that even adults should not be punished by their government for using cannabis, a plant that is far less toxic, addictive and addictive than alcohol.”

The Senate panel also took up legislation Thursday that would allow medical cannabis companies to keep their nonprofit operations under wraps, allow greenhouse cultivation locations, and regulate and restrict hemp-derived products.

Earlier this month, The New Hampshire House of Representatives passed a bill to legalize marijuana.

That bill and the one the Senate took up Thursday are just two of the cannabis proposals introduced for the 2026 session, including legislation by Rep. Jonah Wheeler (D) that seeks to put a constitutional amendment on the state ballot. let voters decide whether they want to legalize marijuana for adults 21 and older“having a modest amount of cannabis for their personal use.”

Gov. Kelly Ayotte (R) has already threatened to veto the legalization bill that reaches his desk, even though the proposal to amend the Constitution would not require gubernatorial action.

The governor said in August his position on the reform it would not change, even if the federal government moved forward with reorganizing the plant. Since then, President Donald Trump has ordered the attorney general to complete the process of moving cannabis from Schedule I to III of the Controlled Substances Act (CSA).

Meanwhile, the House also passed a bill this month by Rep. Wendy Thomas (D). allow medical marijuana dispensaries (known in the state as “alternative treatment centers” or ATCs) to convert their dispensary licenses into nonprofit entities.. HB 54, which adopted a concurrence schedule with other laws, had previously advanced unanimously out of the House Finance Committee.

Part of the motivation behind the legislation is the fact that medical marijuana dispensaries are not for-profit federal states. But in the state, they are considered non-profit organizations, which has disproportionately increased their operating costs.

Last week, the House Health, Human Services and Elderly Affairs Committee took up a pair of bipartisan bills legalize the regulated use of psilocybin for medical purposes.

Other bills introduced in 2026 include two proposals to protect the gun rights of medical cannabis patients.

There’s also some legislation aimed at regulating the sale of hemp, an issue that’s getting a lot of attention since Congress passed and Trump signed an appropriations bill that would effectively re-criminalize most consumable hemp products.

Meanwhile, after the House added provisions to a bill passed by the Senate last year that would have allowed medical marijuana patients to grow cannabis at home, those measures were removed in the conference.

user photo Brian Shamblen.

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General Assembly advances cannabis retail framework

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19 hours ago

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February 21, 2026

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After years of vetoing the General Assembly, legislation to create a legal adult cannabis market in Virginia passed both chambers on Tuesday, this time ready for a governor’s signature and retail sales to begin in November. The votes provide the clearest sign yet that Virginia is ready to move from legal ownership to a fully regulated no-sale market, a transition that has eluded the commonwealth since 2021, when lawmakers legalized simple ownership.

On Tuesday morning, the House passed House Bill 642, Del. Paul Krizek, D-Fairfax, by a vote of 65-32. A few hours later, the Senate passed House Bill 542 by Sen. Lashrecse Aird, R-Petersburg, by a narrow 21-19 margin, after a failed initial vote.

Similar proposals have cleared the General Assembly in recent years—often with bipartisan support—but were repeatedly vetoed by former Gov. Glenn Youngkin. This year, the political calculation has changed. Democratic Gov. Abigail Spanberger has vowed to sign legislation establishing a regulated retail market.

Under Krizek’s bill, the Virginia Cannabis Control Authority would administer the retail system, with no retail sales permitted before November 1, 2026. “It’s about fixing a situation that isn’t working,” he said, noting that while it is legal for adults to possess cannabis, retail sales remain unregulated.

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Rhode Island Marijuana Regulators Weigh How To Award New Dispensary Licenses

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19 hours ago

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February 21, 2026

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“It is unfair to everyone who has invested time, money and attention in this process. We ask that there be no delay.”

By Christopher Shea, Rhode Island Currant

State cannabis regulators have yet to decide how they will handle the allocation of 20 retail cannabis licenses to applicants selected by lottery before May.

The state planned to issue 24 licenses but reduced the number based on the distribution of applicants among the state’s six geographic areas. A total of 98 applications were submitted by the Rhode Island Cannabis Control Board’s December 29, 2025 deadline. One has since been withdrawn, Rhode Island Cannabis Administrator Michelle Reddish told the board at Friday’s monthly meeting.

A second applicant withdrew after the meeting, Cannabis Control Board spokesman Charon Rose confirmed Tuesday.

Commission staff are still reviewing applicants’ qualifications before they enter the final lottery that will award retail licenses. A breakdown of applicants available on the commission’s website shows that more than half — 56 — are seeking general retail licenses. Another 19 were cooperative workers and the remaining 23 were for social equity applicants, or those affected by the war on drugs.

State regulations passed last year set a maximum of four retailers zoneat least one license designated for a social equity applicant, and for a worker-owned cooperative.

Nearly a third of all retail license applications — 31 — were in Zone 6, along with all of Pawtucket, East Providence, Bristol and Newport counties.

Zone 1, which covers Burrillville, Cumberland, Glocester, North Smithfield and Smithfield, saw only two applications, both for social equity licenses. Applicants that did fall back were Die of Laughter, which applied to Zone 5, and Green Dolphin, which applied to Zone 4.

At the committee’s Friday meeting, the committee raised the possibility of phasing out the license release.

“Many stakeholders have raised the issue that if all potential licenses come online at the same time, the price of the product could drop so quickly that no one would win,” said Commissioner Robert Jacquard.

Kevin Rouleau, chief operating officer of Portsmouth-based Newport Cannabis Company, warned that a rapid saturation of the state’s small market could lead to a “race to the bottom” as more established businesses like his try to survive the new competition.

“This is going to hurt everybody, especially farmers who get pennies on the dollar for their produce,” Rouleau said.

The cultivators who participated in the meeting did not feel that way.

“We’re absolutely fine moving forward with the retail stores and we’re not concerned about that outcome,” Rhode Island Growers Association representative Nicholas Lacroix told the commission during the public comment period.

However, Reddish was concerned that the rapid expansion could lead to problems that have occurred in other states.

Cannabis revenue in Michigan fell in 2025, despite record total sales, driven by falling prices. The Oregon market has come under increased pressure from large harvests and low wholesale prices. In Massachusetts, merchants describe a “race to the bottom” that has wiped out many businesses from their market.

“Based on these examples, there is a need to discuss whether the commission should use its ability to take proactive steps to support a stable and successful cannabis industry, prepare to respond to market changes in real time and adjust course if necessary,” he said.

But attorney Allan Fung, a former Cranston mayor and former GOP congressional and gubernatorial candidate, appeared on behalf of several candidates. the applicantshe said that the market should ultimately be the entity that dictates price and competition.

“It’s unfair to everyone who has invested time, money and attention in this process,” Fung told commissioners. “We ask that there be no delay.”

It has already been a slow road for the state to establish its own recreational cannabis market. More than a year passed before the three-member committee was inaugurated in June 2023. The commission had to hire staff to write proposals and review rules adopted in other states. Rhode Island’s rules governing retail cannabis were finally approved in May 2025. Chairman Kim Ahern stepped down last October to become attorney general, and Gov. Dan McKee (D) has yet to name a successor.

Meanwhile, eight medical dispensaries in the state have been authorized to sell recreational cannabis under hybrid licenses.

“The only people who benefit from these dispensaries being slow are the current dispensaries who have a monopoly on the cannabis market,” said Spencer Blier, director of Warwick-based Mammoth Inc. CEO and founder of cultivator.

Because few applications were submitted for Zone 1, Reddish informed the board on Jan. 16. the meeting that regulators would issue up to 20 licenses statewide.

“Depending on how the application process is completed, that number may decrease,” Reddish said Friday.

Starting Jan. 1, the state Office of Cannabis had 90 days to review applications and confirm they met eligibility requirements before entering a lottery, according to a schedule approved by the commission at its Oct. 20 meeting.

Applicants must still obtain the necessary local approvals to enter the random drawing. Regulators aimed to start issuing licenses before May, although the regulations do not specify how many will be issued at one time.

The commissioners did not vote on Friday. The board decided to decide how many licenses to grant at a time for a future meeting.

The next meeting organized by the committee is Friday, March 20, at 1:00 p.m.

This story was first published by the Rhode Island Currant.

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Curaleaf secures $500M financing, extends debt maturity to 2029

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2 days ago

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February 20, 2026

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Curaleaf Holdings has closed a $500 million private debt financing, refinancing existing obligations and extending the maturity of the debt by more than two years.

The company issued senior secured notes with an interest rate of 11.5%, due in February 2029. At the same time, Curaleaf repaid $475 million in prepayments due in December 2026. According to the company, the transaction is non-dilutive and was completed at par.

The refinancing effectively pushes Curaleaf’s near-term debt obligations further down the road, giving the company additional runway as it continues to operate in multiple international cannabis markets. The net proceeds from the offering will be used to support global growth initiatives, as well as to cover transaction-related costs.

© Curaleaf

“This financing strengthens our balance sheet and gives us greater flexibility to execute our long-term strategy,” said Boris Jordan, President and CEO of Curaleaf. He described the deal as the largest bond offering completed in the cannabis sector to date, and pointed to renewed interest from institutional investors as a sign of increased confidence in the industry.

The notes pay interest annually and are secured against the company’s assets. The financing structure also allows for debt issuance under certain leverage conditions, along with $100 million in senior bank financing.

The private placement was conducted under existing securities law exemptions in Canada and the United States and was led by Seaport Global Securities, with ATB Cormark Capital Markets acting as placement agent.

For more information:
Curaleaf
(email protected)
curaleaf.com



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