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Happy Friday Pre Rollers! Welcome to another edition of The Pre Roll, the cannabis newsletter that keeps you up-to-date on the industry happenings you need to know.

Here’s what we’re rolling up this week:

• VP Kamala Harris talks rescheduling

• Jimmy Kimmel producing cannabis reality series for Hulu

• Meta investigated for role in drug sales

…and more. Let’s get to it.

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🚨 Roll Call

Policy

Remarks on rescheduling. Vice President Kamala Harris, in a roundtable conversation at the White House on cannabis reform, called it “absurd” and “patently unfair” that cannabis is considered as dangerous as heroin and more dangerous than fentanyl under federal law. She emphasized a need for speed with regards to the ongoing discussions around rescheduling.

The comments come on the heels of President Joe Biden’s historic remarks on cannabis earlier this month, the first mention of cannabis reform by a sitting United States president during a State of the Union address. He also referenced his administration’s review of the scheduling status of cannabis.

The issue will likely remain a focal point on the campaign trail leading up to the election as it remains incredibly popular with voters.

Entertainment

Hulu has High Hopes. Popular streaming service Hulu has greenlit a Jimmy Kimmel-produced cannabis reality series called High Hopes.

Per Hulu, the show is “a workplace reality series following Belarus-born brothers Slava and Mishka, and their stoned crew through the trials and tribulations of taking their cannabis business to new heights. As one of the oldest cannabis dispensaries in Hollywood, MMD attracts a wild mix of weed-loving customers and is a home away from home for their OG employees who work hard and smoke harder! This season builds to their biggest day of the year— 4.20 — as the gang attempts to expand nationwide and release their own top-shelf cannabis brand. Will they find what they’re looking for or will their hopes go up in smoke?”

High Hopes is set to premier on April 20, coinciding with the celebrated cannabis holiday of 4/20. A trailer is available now.

Business

Meta put under a microscope. Federal prosecutors are investigating Meta, the parent company behind Facebook, Instagram, and WhatsApp, for its possible role in facilitating and profiting from the illicit sale of drugs. The Food and Drug Administration has been assisting with the investigation.

According to The Wall Street Journal, subpoenas were served last year to request records related to “violative drug content on Meta’s platforms and/or the illicit sale of drugs via Meta’s platforms.”

A Meta spokesman told the WSJ: “The sale of illicit drugs is against our policies and we work to find and remove this content from our services. Meta proactively cooperates with law enforcement authorities to help combat the sale and distribution of illicit drugs.”

🇺🇸 State of the Industry

Arizona: Attorney General Kris Mayes says state law prohibits unlicensed smoke shops and convenience stores from selling delta-8 and other hemp-derived products.

Florida: Lawmakers approved a bill to expand access to medical cannabis licenses for Black farmers.

Wyoming: Governor Mark Gordon signed a bill banning the sale of hemp-derived THC.

📊 Business

Curaleaf broadens abroad with partnership in the Czech Republic

The international wing of the American multi-state operator, one of Europe's largest vertically integrated cannabis companies, is moving into the Czech Republic through a partnership with Astrasana Pharma, a fully licensed pharmaceutical company that distributes medical cannabis to pharmacies across the country.

Greenbax Marketplace names preferred lending partner

The financial technology platform and subsidiary of North Bay Credit Union announced it was making FundCanna, California’s leading cannabis lender, its preferred lending partner to give cannabis operators trustworthy and compliant lending options.

Tilray trailblazing in Portugal

The global cannabis and consumer packaged goods company received approval for the first medical cannabis extract in Portugal, a significant milestone for medical cannabis availability and patient care in the country.

🤝 Deals

Döhler Ventures invests in Vertosa

The venture arm of the global provider of natural ingredients, ingredient systems, and integrated solutions is backing the market-leading infusion technology company for cannabis and hemp products; the deal also establishes a strategic research and development alliance to create a new wave of innovative life science products in the beverage sector.

💻 Tech

Budist launches industry’s first social review platform for cannabis

The platform, debuting in the California market, allows both consumers and industry experts to rate and review cannabis products on a 100-point rating scale.

🏆 Awards & Honors

The World’s Most Innovative Companies (Fast Company): Cannabis beverage innovator Nowadays ranked #8 in the Consumer Goods category, looking at brands and products that are transforming our everyday lives, for “pushing cannabis from edibles to drinkables.”

🌏 Around the World

Morocco: Regulators reported numbers from the first legal cannabis harvest, which took place in 2023.

💨 Quick Hitters

• MedMen has closed all but two of its stores in California, but the West Hollywood location appears to be reopening.

• A whopping 35 dispensaries are seeking to open in New Buffalo, Michigan near the Indiana border in cannabis gold rush.

• Mary Jones, the cannabis brand from Jones Soda, is extending its product line with new low-dose, THC-infused fizzy tablet edibles.

• The South Bronx’s first legal cannabis dispensary is officially open.

• Police busted one of the largest illegal cannabis grow operations in Michigan.

📚 What We’re Reading

• It’s Hard to Be a Licensed Cannabis Store in NYC (Slate)

• Growing teen THC use could further complicate cannabis policy (Roll Call)

• New York to probe sputtering legal marijuana program as storefronts lag, black market booms (PBS)

• Ohio’s legalization of marijuana is putting nearly 400 police dogs out of work who can’t unlearn the smell of weed (Fortune)

• Minnesota may open some of the first government-run cannabis dispensaries in the U.S. (Minnesota Public Radio)

🎙️ Potcasts

• What's Ahead for Cannabis in 2024 (High Rise)

• Conservative Cannabis: The Red Wave (High Spirits)

📼 Video of the Week

🔎 Job Board

• Senior IT Engineer, Enterprise Applications & Infrastructure

  • Weedmaps

  • $136,000—$150,000

• Customer Success Manager

  • Jointly

  • $70,000—$100,000

• Public Policy Intern

  • LeafLink

  • $18/hour

📨 Puff, Puff, Pass Reeferal Program

Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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