"When we unlock cash flow for a business, we're not just lending money—we're fueling growth," says Adam Stettner, founder and CEO of FundCanna. With a career spanning three decades in finance, Stettner has built a reputation for creating financial products that prioritize client needs, a philosophy he brings to the underserved cannabis industry. A Lifelong Passion For Numbers For Stettner, numbers have always been more than calculations: they're tools for solving problems. "I've always been more comfortable with numbers than with letters or words," he explains. "I see trends in numbers that help me make sense of things in a way I can't with other mediums." This innate knack for identifying trends laid the foundation for a career defined by innovation and adaptability. Stettner's professional journey began in New York's apparel industry, where he immersed himself in manufacturing, distribution and sales. But it was the financial side of operations—how businesses funded inventory and production—that truly captivated him. This curiosity carried him to Wall Street and later to student lending, where he oversaw $14 billion in on-balance-sheet originations in just five years. His expertise in designing financial products to meet real business needs led him to Reliant Funding, a company he founded. There, he helped deliver over $3 billion in on-balance-sheet funding to nearly 100,000 small and medium-sized businesses (SMBs) across the U.S., underwriting more than a million SMB funding applications. These experiences reinforced his belief in rethinking traditional lending structures to better serve business owners. "Too often, financial products are built around rigid credit boxes," Stettner says. "If you don't fit the box, you don't get funded. I wanted to change that by understanding the client first, then designing a product that fits them." See also: He Worked On Producing Oxygen On Mars, Now He Builds Cannabis Robots: The Fascinating Story Of Sorting Robotics This client-first ethos became the driving force behind the launch of FundCanna in 2021. Recognizing that cannabis was essential, rapidly growing and underserved by financial institutions, Stettner saw an opportunity to apply his expertise to one of the industry's biggest hurdles: access to capital. "Cannabis was an obvious next step," he says. "The industry is grossly underserved when it comes to financing." Bridging The Cannabis Financing Gap FundCanna is Stettner's response to the cannabis industry's unique financial challenges. Despite the $35 billion annual market, cannabis remains federally illegal, making banks hesitant to lend. A 2022 survey from Whitney Economics revealed that over 70% of licensed cannabis companies identified the “lack of access to banking or investment capital” as their top challenge, underscoring the severe funding bottleneck in the industry. Even ancillary businesses such as equipment suppliers face barriers to accessing financing. "The cannabis industry has a fundamental mismatch between cash outlay and revenue," Stettner explains. Cannabis businesses are often caught in a ...Full story available on Benzinga.com

By Javier Hasse via El Planteo Paraguay is on the verge of a historic policy shift. In March, the Senate could approve a reform allowing the sale of adult-use cannabis in regulated dispensaries. In an exclusive conversation with media outlet El Planteo, Marcelo Demp, president of the Paraguayan Chamber of Industrial Cannabis (CCIP), the initiative would integrate oversight from the National Directorate of Health Surveillance and Narcotics and the National Directorate of Tax Revenue (DENIT) to ensure a regulated and transparent market. “In March, the Paraguayan Senate, will vote on expanding the current legal framework, allowing the commercialization of adult-use cannabis in authorized dispensaries under the supervision of the National Directorate of Health Surveillance and Narcotics,” explained Demp. “This new scheme will also integrate DENIT, the National Directorate of Tax Revenue, to ensure proper tax regulation.” The project has a clear economic strategy: ...Full story available on Benzinga.com

A landmark study published Tuesday in JAMA Network Open found that both recent and lifetime cannabis use may impair brain function during cognitive tasks, particularly those involving working memory. The study, the largest of its kind, examined 1,000 young adults aged 22 to 36 using brain imaging technology. Researchers found that 63% of heavy lifetime cannabis users showed reduced brain activity during a working memory task, while 68% of recent users exhibited a similar decline. Implications For Memory And Cognitive Performance Working memory plays a crucial role in everyday functions, allowing individuals to follow instructions, solve problems and process information efficiently. The decline in brain activity observed in cannabis users correlated with poorer performance on working memory tasks. “As cannabis use continues to grow globally, studying its effects on human health has become increasingly important," said lead author Joshua Gowin, Ph.D., an assistant ...Full story available on Benzinga.com

High Tide Inc (NASDAQ:HITI) reported fourth-quarter financial results after the market close on Wednesday. Here’s a look at the highlights from the quarter. Q4 Earnings: High Tide reported fourth-quarter revenue of 138.3 million Canadian dollars ($95.9 million), beating analyst estimates of CA$135.37 million, according to Benzinga Pro. The cannabis retailer reported a fourth-quarter loss of six cents (Canadian dollar) per share, missing analyst estimates for a loss of two cents (Canadian dollar) per share. High Tide said it now has more than 1.72 million members in its Cabana Club, up approximately 34% year-over-year. The company noted that ELITE members crossed 73,000 in the quarter, up 161% year-over-year. Canna Cabana held 19% market share in Alberta and 10% in Ontario in the fourth quarter. “We are witnessing an ...Full story available on Benzinga.com

As Prime Minister Justin Trudeau prepares to step down, Canada’s cannabis industry faces a turning point that could redefine its future. Trudeau's government not only legalized recreational cannabis in 2018, but also positioned Canada as a global leader in marijuana reform, being the first G7 nation to federally legalize cannabis for both medical and adult use. However, the possibility of a new government under Conservative leader Pierre Poilievre introduces concerns about policy stagnation and regulatory rollbacks, raising questions about what's next for this multi-billion-dollar industry. A Legacy Of Legalization Trudeau's role in legalizing cannabis has been transformational. As Deepak Anand, principal of British Columbia-based ASDA Consultancy Services, wrote in an opinion piece for MJBizDaily, legalization “not only transformed the nation's social and economic landscape but also established it as a global pioneer in marijuana reform.” Indeed, a survey by Leger found that 62% of Canadians support legalization, with many identifying it as one of Trudeau's most significant accomplishments. Over the past six years, Canada's cannabis industry has generated thousands of jobs, created substantial tax revenue and solidified the country's reputation as a cannabis trailblazer. Yet, ...Full story available on Benzinga.com

The cannabis industry has been expanding at a rapid rate nationwide for a number of years now. As of January, 24 states have legalized cannabis for recreational use and that number is likely to grow over the next few years. With rapid expansion comes the need for spaces where cannabis businesses can operate. While some operators are in a position to purchase property, many who are starting or expanding their businesses will need to lease that space from commercial landlords. Unlike in standard leasing transactions, both landlords and tenants must take into account a number of additional considerations when the space in question will be used for a cannabis business. Local Land Use Regulations While certain states have passed laws legalizing medical or recreational cannabis (or both), it is often local municipalities that govern how those laws are interpreted on the ground through land use regulations. Such regulations can contain requirements, restrictions or outright prohibitions related to cannabis. Requirements and restrictions can include, but not be limited to, required distances from certain properties, such as schools, daycare centers, public parks or recreation facilities); limits on where cannabis can be used within the municipality, such as certain commercial or industrial zones; set hours of operation; and restrictions on the size and design of building signage related to the cannabis use. Both landlords and tenants should work with legal counsel to understand local land use regulations that affect cannabis before entering into a lease to ensure a successful transaction. Considerations for Landlords Understanding Financial Covenants. Landlords need to determine if existing loan covenants will be violated by entering into a lease for cannabis use. While some lenders have started entertaining the idea of cannabis use leases, most financing documents will contain covenants that require a landlord to comply with all local, state and federal ...Full story available on Benzinga.com

New York was among the latest cities where Immigration and Customs Enforcement (ICE) and other federal agencies including the Drug Enforcement Agency (DEA) conducted raids, which are part of the Trump administration's hardline immigration policies, or as the new Homeland Security Secretary Kristi Noem calls it "getting the dirtbags off the streets." Noem, wearing a bulletproof vest and surrounded by heavily armed officers, told followers on social media that she was present for at least one televised arrest of a suspected criminal in an apartment building in the Bronx. As of late Tuesday, Federal law enforcement sources confirmed to CBS News that 20 people were taken into custody in New York CIty. Twelve of them had criminal records and the other eight had no crimes connected to them except for entering the country without proper documentation. “What they’re trying to do is instill fear in our communities and continue to push this narrative that ...Full story available on Benzinga.com

Germany's medical cannabis market experienced remarkable advancements in 2024, marked by unprecedented affordability, record-breaking prescription growth and enhanced patient access. A new report by Frankfurt-based medical cannabis company Bloomwell GmbH, titled "The Cannabis-Barometer – 2024 Medical Cannabis Market Trends in Germany," offers insights into these developments, supported by extensive real-world data. Price Drops Fuel Affordability And Access The reclassification of medical cannabis as a non-narcotic on April 1, 2024, catalyzed significant market changes. Initially, prices per gram rose due to regulatory adjustments but began a steady decline by June. By the fourth quarter, prices reached historic lows, with some strains available for as little as €3.99 ($4.16) per gram. The average price also fell, from €9.27 per gram in January to €8.35 by November. According to Bloomwell's co-founder and CEO Dr. Julian Wichmann, "Accessible cannabis therapy offers significant public health benefits. Thanks to digital platforms, patients now have reliable, physician-supervised, and straightforward access to medical cannabis." These price reductions were ...Full story available on Benzinga.com

The rise of appetite-suppressing drugs like Ozempic is changing the way Americans eat, but there's a twist: cannabis legalization is pulling consumer behavior in the opposite direction. Bloomberg's Prognosis newsletter recently dug into this fascinating interplay, highlighting how these two trends are reshaping the food industry and public health. The Ozempic Effect: Appetite On Pause Ozempic, Wegovy and other GLP-1 agonists have become household names for their remarkable ability to help people shed pounds. These drugs don't just curb appetite, they're also influencing what people buy. According to a Morgan Stanley report, households using GLP-1 drugs have cut their spending on snacks, pastries and ice cream by 6% to 9%. Meanwhile, healthier options like yogurt and vegetable snacks are seeing a boost, as companies like Danone (OTC:DANOY) and Nestlé adjust their product lines to meet demand. Novo Nordisk A/S (NYSE:NVO), maker of Ozempic, has even received calls from food industry leaders worried about the drug's impact. And they have reason to be concerned: Walmart (NYSE:WMT) has reported that households with GLP-1 users are buying less ...Full story available on Benzinga.com

Amplify ETFs announced the realignment of its cannabis ETFs to provide investors with dynamic exposure to the cannabis industry. On Jan. 28, the Amplify Seymour Cannabis ETF (NYSE:CNBS) will change its investment policy to invest in securities of U.S. companies engaged in cannabis and hemp-related activities. In addition, the Amplify Alternative Harvest ETF (NYSE:MJ) will allocate to CNBS to gain exposure to U.S. cannabis companies following an index methodology change, according to company press release. The move, per the company, reflects Amplify ETFs' commitment to refining its product suite for investors. Through the changes, MJ will continue to offer access to the global cannabis industry, now gaining its U.S. exposure through an allocation to CNBS within the index. "The cannabis industry is an evolving market, and we recognized an exceptional opportunity to leverage the expertise of one of its foremost authorities, Tim Seymour. By doing so, we've positioned ourselves to enhance ...Full story available on Benzinga.com

JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon indicated that the largest bank in the U.S. "probably would" provide banking services to marijuana businesses if/when federal laws permit. Dimon’s comments, made during a recent episode of the firm’s podcast, will likely spark optimism within the cannabis industry, which has long struggled with the numerous obstacles of not having access to traditional financial and banking services due to its onerous classification as a Schedule I substance. Debanking? Cannabis Comes To Mind What Happened: In response to a comment about debanking made by venture capitalist Marc Andreessen on Joe Rogan‘s podcast, Dimon launched into how debanking works at JPMorgan Chase. Apparently, cannabis came to his mind. "I wanted to explain to him [Marc Andreessen], we have not ...Full story available on Benzinga.com

Sen. Elizabeth Warren (D-Mass.) sent a detailed letter to Elon Musk, chair of the newly established Department of Government Efficiency (DOGE) with numerous suggestions for slashing federal spending. Warren outlined proposals she said could save the federal government upwards of $2 trillion over the next decade. Among her recommendations was scaling back federal enforcement against marijuana users and businesses, which she called an example of "wasteful spending." "The United States could save hundreds of millions of dollars annually by cutting unnecessary federal enforcement actions and detention," Warren wrote in the Thursday letter to the billionaire Tesla (NASDAQ:TSLA) CEO. Warren criticized federal agencies like the Drug Enforcement Administration (DEA) and Customs and Border Protection (CBP) for continuing to target legal marijuana businesses and seize cannabis plants. "These arrests and seizures unnecessarily drain ...Full story available on Benzinga.com

Texas Gov. Greg Abbott (R) wants Congress to reimburse his state for more than $11 billion spent on border security since the start of the Biden administration. Abbott submitted a detailed invoice outlining the costs incurred by Operation Lone Star, which Texas undertook to “protect the rest of America” against Joe Biden’s “reckless open-border policies that invited record-breaking illegal immigration,” Abbott wrote in a letter to congressional leaders on Thursday. He accused the former president of having stopped construction of the border wall and rewarding criminals who illegally entered the U.S. Biden halted construction of the border wall in 2021. Building The Wall Is Back On On the day of his inauguration, President Donald Trump pledged to get back to building the wall. ...Full story available on Benzinga.com

A new poll by NuggMD reveals a stark divide between frequent cannabis consumers and the Drug Enforcement Administration (DEA). According to the survey, conducted between January 16 and January 19, 2025, only 4% of respondents trust the DEA to be an “unbiased proponent” for cannabis rescheduling efforts. An overwhelming 96% said they do not. The survey sampled 677 frequent cannabis users from a list of respondents who opted into NuggMD’s polls. With a margin of error of ±3.77%, the poll reflects widespread skepticism among a demographic directly affected by cannabis policy. The results came shortly after a federal hearing on cannabis rescheduling was delayed for several months, adding to the uncertainty surrounding the issue. Consumer Trust In The DEA At Historic Lows NuggMD, a company focused on medical cannabis evaluations and education, conducted the survey using first-party data from its consumer base. A spokesperson for the company emphasized the importance of this data in understanding public sentiment. “Cannabis consumers are the people most directly ...Full story available on Benzinga.com

This week in cannabis was relatively subdued, with the most significant news stemming from Washington, D.C. The Trump administration appointed a controversial new acting DEA administrator, Derek S. Maltz, raising concerns over the future of cannabis rescheduling efforts. Meanwhile, updates from global markets in Germany, Uruguay and the Netherlands highlighted ongoing industry challenges and progress. Here's a recap of this week's notable developments. Politics New DEA Leadership Sparks Cannabis Industry Concerns The Trump administration appointed Derek S. Maltz as the acting administrator of the U.S. Drug Enforcement Administration (DEA). A 28-year veteran of the agency, Maltz is known for his hardline stance on cannabis and drug policy. Maltz has criticized cannabis legalization, citing its alleged links to public safety concerns, and accused the Department of Justice of politicizing the cannabis rescheduling process. "President Trump is off to a fast start as the 47th POTUS with border security and the horrible implications of cartels and drug trafficking in America as an area of major importance, so we are not surprised by the recent appointment of Derek Maltz as the Acting Administrator of the US DEA,” said Morgan Paxhia, co-founder and Managing Partner of Poseidon, a burgeoning cannabis investment fund. “President Trump has been getting smart on legal cannabis, sees the economic benefits and is pro MAGA and DOGE. We think it is better to focus less on any appointee's dated/biased views on cannabis and more so on POTUS as the primary input for potential legislative reform and as it pertains to ...Full story available on Benzinga.com