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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:

• New York approves revised adult-use cannabis regulations

• Metrc replaces BioTrack in Illinois

• Second Singapore citizen hanged for cannabis trafficking in under a month

…and more. Let’s get to it.

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🚨 Roll Call

Policy

New York State of Approvals. The New York State Cannabis Control Board voted to approve revised adult-use cannabis regulations. National cannabis law firm Vicente LLP held a webinar to break down the key points. In addition to the revised regulations, regulators also approved 50 new Conditional Adult Use Retail Dispensary (CAURD) licenses, for a total of 215 dispensaries approved to-date. The Office of Cannabis Management's New York Social Equity & Economic (NYSEE) Plan was approved as well.

Tech

Metrc replaces BioTrack in Illinois. Cannabis regulatory platform Metrc announced it is being awarded a government contract to become the track-and-trace system in Illinois. Metrc will replace incumbent BioTrack. This will be Metrc’s 24th government contract, by far the most of any seed-to-sale tracking system. The company has been given at least five other government contracts in just over the last year — Maryland, Missouri, Alabama, Rhode Island, and Mississippi.

Policy

Second Singapore citizen hanged. On Wednesday, Singapore hanged another citizen for trafficking about 1.5 kilograms (3.3 pounds) of cannabis amid calls to halt executions. The man was not named publicly as his family asked for privacy. He was originally convicted in 2019 and had been imprisoned for seven years. This is the second cannabis-related hanging in Singapore in under a month. In April, Tangaraju Suppiah, 46, was hanged over a plot to smuggle cannabis despite pleas from activists, his family, the United Nations Human Rights Office, and even British billionaire Sir Richard Branson.

🇺🇸 State of the Industry

California: A group of stakeholders representing nearly 45% of the state’s cannabis industry by sales volume launched Financial Stability for California Cannabis (FSCC) in an effort to tackle challenges for operators regarding collections and outstanding debt related to unpaid invoices.

Florida: A proposal to put recreational cannabis on the ballot in 2024 was submitted to the Florida Supreme Court.

Michigan: A new house bill would allow anyone over the age of 19 to work in a recreational dispensary, making it the same age limit as working in a medical dispensary and selling or serving alcohol.

Oklahoma: Governor Kevin Stitt signed legislation that extends a moratorium on new medical cannabis businesses through 2026.

Oregon: Cannabis businesses will soon be required to prove they’ve paid their taxes in order to get or renew a license.

📊 Business

FLUENT: The multi-state cannabis company moved its HQ from Miami to Tampa.

💻 Tech

Akerna: An investor in the cannabis software company is suing to block its merger with crypto firm Gryphon Digital Mining .

Treez: The cannabis POS company officially expanded into the New Jersey market.

🌏 Around the World

Australia: More than 1 million prescriptions have been given out since medicinal cannabis was legalized in 2016.

Isle of Man: The British Crown Dependency plans to license as many as 10 medicinal cannabis firms by 2025 in an effort to diversify its economy.

The Netherlands: Amsterdam is banning outdoor cannabis smoking in its Red Light District.

💨 Quick Hitters

• Florida-based CBD company Hemp Naturals Inc. was one of 10 microcap companies charged by the SEC for selling securities in unregistered offerings.

• New York City’s newest dispensary Gotham has a luxury vibe.

• Clio Cannabis revealed the juries for its 2023 awards.

• A bakery on the Upper East Side in Manhattan was shut down for selling unlicensed cannabis products.

• The Boston Beer Company — known for its flagship Sam Adams lager — released a new Mango Green Tea flavor of its cannabis-infused iced tea beverage brand TeaPot

📚 What We’re Reading

• California pot industry facing 'extinction event' (SFGATE)

• Behind the scenes at Union Square Travel Agency, one of New York's first cannabis dispensaries (Spectrum News NY1)

• She Smoked Weed, Legally, Then Gave Birth. New York Took Her Baby. (The New York Times)

📼 Video of the Week

🔎 Job Board

• Senior Attorney

  • New York State Office of Cannabis Management

  • $86,161—$111,111

• Account Executive

  • BDSA

  • $50,000—$70,000 + commission

• Product Manager, E-Commerce

  • Curaleaf

• Vice President, Retail Marketing

  • Green Thumb Industries

Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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