🌿 New York Times reverses course on cannabis, Florida funds diverted to defeat legalization, and Planet 13 pulls back pursuits in California

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.

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Changing course. The New York Times editorial board wrote an opinion piece this week entitled It’s Time for America to Admit That It Has a Marijuana Problem that argues while legalization of cannabis across the United States has significantly reduced criminal justice harms, the policy has gone too far without adequate regulation. They say legalization without strong guardrails has led to widespread use and related problems, and it’s time for a new approach.

The board notes it previously supported legalization more than a decade ago and compared cannabis policy reform to ending alcohol prohibition, but admits many earlier predictions have proven incorrect.

Rather than return to outright criminal prohibition, they call for stronger federal and state regulation similar to how alcohol and tobacco are handled including federal taxation and potentially higher state taxes designed to deter overuse, limits on THC potency in products, cracking down on unsubstantiated medical claims by dispensaries, and more active government oversight to protect public health.

The editorial frames this shift as a willingness to assess real-world outcomes and adjust policy accordingly, suggesting that America should move from broad acceptance toward a more regulated model that balances freedom with harm reduction.

NOTE: This is intended to be a summary of the article, not a commentary on it, so that you can form your own perspective.

Diverted dollars. The statewide opioid advisory council in Florida was never informed that approximately $4 million in settlement funds were quietly diverted by the DeSantis administration to fund ads opposing the 2024 adult-use cannabis legalization initiative.

The anti-cannabis campaign reportedly formed part of a broader effort in which the state spent around $35 million on television ads and other initiatives to defeat Amendment 3. Despite these efforts, the amendment received 56 % voter support, but fell just short of the 60 % threshold required for passage.

The incident has drawn scrutiny, sparking concerns over transparency, oversight, and proper use of public money.

California closing. Planet 13 Holdings has officially exited the California cannabis market, selling its Orange County retail and Coalinga cultivation assets to focus on streamlining operations in core growth markets like Nevada and Florida. The move aims to simplify the company’s footprint, improve liquidity, and redirect resources to higher‑return regions.

Catalyst Cannabis took over the dispensary location.

The vertically-integrated cannabis company, known for having the nation’s biggest dispensary location, initially announced these plans in November of last year.

New Hampshire: The Republican‑led Senate Judiciary Committee moved to block a House‑passed comprehensive cannabis legalization, regulation, and taxation bill, sending it toward likely defeat.

Ohio: Attorney General Dave Yost filed an antitrust lawsuit accusing nine large multistate cannabis companies of engaging in anti‑competitive conduct, such as using reciprocal agreements and shelf‑space deals to prioritize each other’s products, limiting independent local businesses, reducing consumer choice, and keeping prices high.

Oklahoma: During his State of the State address, Governor Kevin Stitt proposed putting the state’s medical cannabis law back on the ballot so voters could potentially shut down the industry they approved in 2018, calling the market a public safety risk.

Oregon: Lawmakers introduced a bill to ban the sale of individual cannabis edibles containing more than 10 mg of THC per piece in an effort to reduce accidental child poisonings and align with potency limits in other states.

Gotham gears up to help growing brands

The New York State dispensary chain has launched a six session accelerator for growth stage cannabis consumer brands, with its inaugural cohort focused on supporting Black-owned businesses in the NYC area with strategic guidance and industry resources to help them scale.

Safe Harbor Financial strengthens partnership with PCCU

The banking and financial services fintech extended its partnership with Partner Colorado Credit Union through 2031, a deal that is expected to generate around $9 million in incremental revenue and save over $1.5 million through the term.

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Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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