🌿 Q1 2025 financial results, former Fox News host sworn in as top prosecutor, and Vangst releases jobs report

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:

• Q1 2025 financial results

• Former Fox News host sworn in as top prosecutor

• Vangst releases jobs report

…and more. Let’s get to it.

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🚨 ROLL CALL

Business

A quarterly report. Both plant-touching and ancillary cannabis companies have reported financial results for the first quarter of 2025, with varied outcomes. Click on any business below for further detailed information.

News

The District’s attorney. Former judge, district attorney, and Fox News host Jeanine Pirro has been sworn in as the U.S. Attorney for the District of Columbia.

The Trump-appointed Pirro replaces Ed Martin, the U.S. Attorney who sent a letter to the owners and operators of a city-permitted DC-area dispensary stating they “may be subject to criminal prosecution and civil enforcement actions” from the Trump administration’s Department of Justice for operating within 1,000 feet of several area schools. The letter was prompted by neighborhood concerns raised by parents and residents about the dispensary's location.

She sits on the board of directors for global hemp and CBD company HeavenlyRx.

Business

On the job. Cannabis staffing agency Vangst released its annual jobs report, which found the cannabis industry currently supports over 425,000 full-time jobs.

Emerging markets in New York, Mississippi, and Ohio led the country in job creation driven by newly issued licenses and expanded legal cannabis access. Established markets such as Arizona, Illinois, and Colorado saw job losses caused by oversupply, steep taxes, and reduced consumer engagement.

🇺🇸 STATE OF THE INDUSTRY

Arizona: Total cannabis sales in Q1 dropped over 13% compared to the same period in 2024, driven by a 28.3% decline in medical sales and a 9.6% decrease in recreational sales.

Florida: Lawmakers failed to reconcile differing House and Senate hemp regulation bills before the 2025 legislative session deadline, leaving the state's hemp industry without a new regulatory framework.

Michigan: The Cannabis Regulatory Agency is considering a rule that would grant regulators real-time, web-based access to cannabis business surveillance systems, prompting concerns over privacy and potential misuse.

New York: The state's medical cannabis industry is facing significant challenges as Governor Kathy Hochul proposes a $15 million licensing fee for operators to enter the recreational market.

Pennsylvania: A Senate committee rejected a bill that would have legalized recreational cannabis through state-run stores; Democrats in the House of Representatives narrowly passed the bill earlier this month.

Wisconsin: Republican legislators rejected a cannabis legalization effort, among other budget proposals, by Governor Tony Evers.

💼 BUSINESS

Village Farms spins off fresh produce division

The Canadian cannabis producer has established a new holding company named Vanguard Food to allow the segment of the business, which generated $169 million in sales in 2024, to grow independently.

🤝 DEALS

Vireo Growth acquires assets

The U.S.-based multi-state cannabis company has completed its acquisition of Utah-based WholesomeCo Cannabis and its proprietary Arches technology and analytics platform for $69.8 million.

💨 QUICK HITTERS

• NYC-based cannabis retailer The Travel Agency opened new dispensary in SoHo, the company’s fourth location.

• Curaleaf recalled medical cannabis products in Connecticut over concerns with yeast and mold levels.

• Boston Beer Company is expanding its cannabis beverage lineup with new TeaPot THC-infused iced teas and Emerald Hour cannabis cocktails.

📚 WHAT WE’RE READING

• Alcohol use is declining. THC is swooping in (CNN)

• Cannabis drinks killing alcohol sales? Jon Taffer says there’s ‘no question’ it’s ramming the drink market (FOX Business)

• What cannabis pioneer Christine Apple learned while building her edibles business (MJBizDaily)

• Marijuana business owner kicked out of industry after selling to underage cop (Crain’s Detroit Business)

🎙️ POTCASTS

• The Global Playbook with Zachary George, CEO of SNDL (Higher Exchanges)

🔎 JOB BOARD

• Analyst Cannabis Banking AML Compliance

  • FourLeaf Federal Credit Union

  • $72,934—$102,109

• Manager, Social Media - Beverage

  • Green Thumb Industries

  • $75,000—$90,000

• Vice President of Marketing

  • C3 Industries

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Stay tuned for more cannabis industry news next week!

💚,

The Pre Roll Team

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