A federal crackdown on hemp-derived cannabinoids advanced in Congress this week, triggering alarm across the $28 billion U.S. hemp industry. A House subcommittee approved a spending bill that would redefine hemp in a way that bans most intoxicating cannabinoid products, including THCA flower, delta-8 and even some full-spectrum CBD. The proposed legislation, backed by Rep. Andy Harris, now moves to the full House Appropriations Committee for markup on June 11. If enacted, it could reshape the cannabis landscape far beyond hemp, affecting retailers, manufacturers and state regulators across the country. All this sets the stage for next week's Benzinga Cannabis Capital Conference, taking place June 8–10 at the Marriott Magnificent Mile in Chicago. With more than 120 speaker, the event will focus on capital raising, M&A, state-level policy and how operators are adapting in the face of intensifying federal scrutiny. Get your tickets here. From California's record-breaking sales decline to regulatory confusion in Argentina and legalization momentum in Chile and Ukraine, here's everything that moved the global cannabis conversation this week. Congress Advances Hemp THC Ban, Industry Warns Of Collapse A GOP-led House subcommittee has advanced a bill that would redefine hemp and effectively ban most intoxicating cannabinoid products, including THCA, delta-8, delta-10 and full-spectrum CBD. The measure, included in the FY2026 Agriculture-FDA appropriations bill, passed in a 9–7 vote and now heads to the full House Appropriations Committee for markup on June 11. Backed by Rep. Andy Harris (R-MD), the bill proposes narrowing hemp's legal uses to fiber, grain, and industrial applications, with an exemption for FDA-approved drugs like Epidiolex. The U.S. Hemp Roundtable warned that the language could destroy a $28.4 billion market and cost more than 300,000 jobs. Marijuana Moment first reported the bill's advancement and its potential to shut down the market for unregulated cannabinoids, many of which emerged under the 2018 Farm Bill. "This would eliminate the vast majority of hemp-derived products sold nationwide," said Jonathan Miller, general counsel for the Roundtable. "It's a farmer-crushing, job-killing ban." Critics, including the Wine & Spirits Wholesalers of America and the National Cannabis Industry Association, say ...Full story available on Benzinga.com

A key House committee has advanced a federal spending bill that could effectively ban most hemp-derived cannabinoid products, including THCA flower, delta-8 THC and even full-spectrum CBD, by redefining hemp and limiting its legal uses. As reported by Marijuana Moment, the measure was approved Thursday in a 9-7 vote by the House Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies, with support from Rep. Andy Harris (R-MD), the subcommittee chair. It now moves to the full House Appropriations Committee for markup on June 11. Redefining Hemp, Banning Cannabinoids The 138-page fiscal year 2026 bill proposes a revised definition of hemp that would prohibit any product containing: A "quantifiable" amount of THC or THCA Cannabinoids with effects "similar to THC," or marketed as such (e.g., delta-10, THCP) Cannabinoids synthesized or manufactured outside the plant The bill narrows hemp's federally legal applications to industrial outputs such as fiber, grain, oil, nut, microgreens and certain edible leaves, not common cannabinoid products. An apparent carve-out remains for FDA-approved cannabinoid drugs like Epidiolex. "[The legislation] closes the hemp loophole from the 2018 Farm Bill that has resulted in the proliferation of intoxicating cannabinoid products," Harris said. He added that unregulated hemp-derived ...Full story available on Benzinga.com

Cannabis may be a plant, but it's not always as natural as it appears. Somewhere along the way from soil to sale, we've allowed shortcuts, synthetics, and questionable inputs to infiltrate a space rooted in wellness. The result is that today's cannabis products often fall short of the health and safety expectations that consumers and regulators are rapidly adopting. This poses a growing challenge for an industry already under unprecedented scrutiny. Cannabis operators face increasing pressure not only to comply with evolving state standards but to anticipate federal oversight and align with best practices. In short, regulatory preparedness is no longer optional, it's an operational imperative.  Those of us in the industry understand the realities of commercialized cultivation and food manufacturing—how the proverbial sausage is made. We know what it takes to produce quality cannabis and how easy it is to compromise for the sake of speed, yield, and price. We've seen it all—over-fertilized crops, flavorless distillate gummies loaded with artificial dyes and colors, products that test clean only because the testing protocols were gamed. Let's be clear: fast and cheap will always find an audience, but at what cost?  Recent investigations have only deepened the concerns. A December 2024 LA Times investigation found frequent pesticide contamination in legal cannabis, as well as misleading THC claims and the presence of harmful dilution oils. These findings mirror systemic issues seen across the food and beverage sectors, where consumer demands and government action are rapidly reshaping ingredient safety standards. In April 2025, the U.S. Department of Health and Human Services (HHS) announced a national phase-out of petroleum-based dyes by the end of 2026. These dyes face outright bans or strict restrictions in parts of Europe and, to a lesser extent, Canada. Additionally, HHS Secretary Robert F. Kennedy, Jr. has also signaled further bans on food and wellness additives that potentially pose health risks. These moves should be interpreted not as regulatory noise, but as a clear direction: consumer products must become cleaner, safer, and more transparent – cannabis products included. So how do we clean up cannabis and ensure the entire supply ...Full story available on Benzinga.com

GAINERS: Global Hemp Group (OTC:GBHPF) shares closed up 160.87% at $0.03 4Front Ventures (OTC:FFNTF) shares closed up 100.00% at $0.0002 Maple Leaf Green World (OTC:MGWFF) shares closed up 58.64% at $0.02 Zelira Therapeutics (OTC:ZLDAF) shares closed up 26.39% at $0.28 Leafbuyer Techs (OTC:LBUY) shares closed up 20.50% at $0.02 Zoned Properties (OTC:ZDPY) shares closed up 19.38% at $0.58 CNBX Pharmaceuticals (OTC:CNBX) ...Full story available on Benzinga.com

Budr Cannabis is making a major move in Connecticut. The Hartford-based operator, which already runs four dispensaries across the state and one in Yonkers, New York, has acquired three former Botanist-branded cannabis dispensaries in Danbury, Montville and Vernon. All three locations are now operating under the Budr name. The deal, backed by Poseidon Investment Management, marks Budr’s significant expansion in the competitive Northeast market. The company now operates seven dispensaries in Connecticut. Poseidon-Backed Growth The acquisition is the latest sign ...Full story available on Benzinga.com

A photo circulating online allegedly shows cannabis left behind in offices formerly occupied by Elon Musk's Department of Government Efficiency (DOGE) unit. Daniel Knowles, a journalist with The Economist, posted the image on Bluesky, showing gloved hands holding what appears to be cannabis found at the United States Institute of Peace (USIP). Far worse things than weed were left behind by the DOGE team that trashed the non-profit’s office. The chief executive of USIP said the organization's Washington, D.C., headquarters became infested with vermin on DOGE's watch. After a federal judge ruled against DOGE's takeover and Musk's team left the building, cleaning staff found the place trashed and allegedly discovered cannabis in the garbage. Read also: White House Says Trump Is ‘Sticking To’ The ...Full story available on Benzinga.com

GAINERS: Cann Group (OTC:CNGGF) shares closed up 18.18% at $0.01 Corbus Pharmaceuticals (NASDAQ:CRBP) shares closed up 13.08% at $8.28 CLS Holdings USA (OTC:CLSH) shares closed up 12.57% at $0.04 cbdMD (AMEX:YCBD) shares closed up 10.06% at $0.98 Rocky Mountain High (OTC:RMHB) shares closed up 10.00% at $0.00 Greenlane Hldgs (NASDAQ:GNLN) shares closed up 9.84% at $0.01 1933 Industries (OTC:TGIFF) shares closed up 9.76% at $0.00 Nextleaf Solutions (OTC:OILFF) shares closed up ...Full story available on Benzinga.com

As beer consumption dips and consumers search for lighter ways to unwind, hemp-derived THC beverages are carving out a serious niche in the U.S. market. For Tilray Brands Inc. (NASDAQ:TLRY), one of the world's largest cannabis companies and a top craft beer player in the U.S., the rise of weed drinks isn't just a trend; it's a business strategy. "We believe hemp beverages are just one more choice for adults looking to relax and unwind," Sam Garfinkel, senior vice president of commercial operations and strategy for Tilray Wellness, told Benzinga. "That concept shapes everything from formula development to our retailer strategy." Tilray's Craft Beer Advantage Tilray's deep bench in the alcohol world, including ownership of brands like SweetWater, Shock Top and Blue Point, is more than a diversification play. It gives the company a distribution and R&D infrastructure few cannabis brands can match. "We're fortunate to have a vast network of distributors, wholesalers, legal/regulatory experts, and food scientists," said Garfinkel. "That helps us get to market with breakthrough brands like Happy Flower and Fizzy Jane." Formulation Challenges And Flavor Opportunities Unlike alcohol, low-dose THC doesn't bring much flavor of its own, but Tilray sees that as a creative opportunity. "Herbal ingredients actually complement ...Full story available on Benzinga.com

As the United Kingdom revisits its cannabis laws, one of the most recognizable U.S. cannabis brands is making its move across the Atlantic. Mamedica, one of the UK's largest medical cannabis clinics, has announced an exclusive partnership with Cookies, the California-based company co-founded by rapper and entrepreneur Berner, to distribute its products to UK patients. The cannabis formulations will be provided by SOMAÍ Group and cultivated under EU-GMP and GACP standards. Through the deal, Mamedica becomes the official license holder and distributor of Cookies-branded medical cannabis in the UK, making products with Cookies' proprietary genetics available via prescription for the first time in the country. Full story available on Benzinga.com

Over the past few weeks, a cascade of federal moves has reshaped the conversation around psychedelic-assisted therapy in the United States. What was once a fringe issue is now drawing bipartisan attention—and, increasingly, institutional support. The clearest signal came from FDA Commissioner Dr. Marty Makary, who recently called psychedelic research a "top priority" for the agency, citing growing scientific validation and unmet needs in mental health. Just days later, Texas lawmakers approved $50 million in public funding for ibogaine trials targeting veterans with PTSD and traumatic brain injury, an unprecedented commitment from a Republican-led state. Adding to the momentum, the Department of Veterans Affairs confirmed it is exploring psychedelic treatment vouchers for veterans, with VA Secretary Doug Collins telling Congress his agency is seeing "positive outcomes" from ongoing studies. Even HHS Secretary Robert F. Kennedy Jr., a longtime advocate of alternative therapies, has backed legalizing psychedelics in clinical settings. Now, the federal pivot has taken an even sharper turn: Matthew Zorn, a high-profile attorney known for challenging government secrecy around drug policy, has joined the Department of Health and Human Services as Deputy General Counsel. Internally referred to as the agency's "psychedelics czar," Zorn previously sued HHS to force the release of its cannabis rescheduling review and has represented patients seeking legal access to psilocybin under Right to Try laws. While Zorn's role does not change regulation in itself, his hiring marks a rare crossover from courtroom adversary to federal policymaker and could accelerate alignment between science, law, and public demand. Against that backdrop, Doug Drysdale, CEO of Cybin Inc. (NYSE:CYBN), one of the most closely watched companies in psychedelic medicine, told Benzinga the FDA's stance is more than symbolic. "It is gratifying that the FDA Commissioner shares our belief in the potential therapeutic value of these innovative treatments… We agree wholeheartedly that the time is now to address the mental health crisis, and we applaud Dr. Makary's commitment to expedite the regulatory review process for product candidates in development," said Drysdale. "We are encouraged by the FDA's ...Full story available on Benzinga.com

In a quarter where most big U.S. cannabis companies flatlined, one actually grew: Green Thumb Industries Inc. (OTCQX:GTBIF). The Chicago-based company reported $280 million in revenue for the quarter, a 1% increase over Q1 2024. According to a new report from Zuanic & Associates, no other operator in its peer group achieved positive growth during the same period. That makes GTI a notable outlier in a sector where revenue declines and flatlining were the norm. Brand Strength And Sales Strategy A key factor behind Green Thumb's performance is its strong portfolio of in-house brands, which ...Full story available on Benzinga.com

GAINERS: Australis Capital (OTC:AUSAF) shares closed up 29900.00% at $0.0003 Cann Group (OTC:CNGGF) shares closed up 5400.00% at $0.01 Body and Mind (OTC:BMMJ) shares closed up 316.67% at $0.0005 Elixinol Wellness (OTC:ELLXF) shares closed up 56.36% at $0.01 1933 Industries (OTC:TGIFF) shares closed up 13.89% at $0.00 CordovaCann (OTC:LVRLF) shares closed up 8.97% at $0.06 Target Group (OTC:CBDY) shares closed up 8.11% at $0.00 FLUENT (OTC:CNTMF) shares closed up 4.52% at $0.05 SOL Global Investments (OTC:SOLCF) shares closed up ...Full story available on Benzinga.com

GAINERS: CordovaCann (OTC:LVRLF) shares closed up 22.08% at $0.06 Nextleaf Solutions (OTC:OILFF) shares closed up 19.73% at $0.04 Leafbuyer Techs (OTC:LBUY) shares closed up 13.64% at $0.03 Zoned Properties (OTC:ZDPY) shares closed up 9.67% at $0.48 CLS Holdings USA (OTC:CLSH) shares closed up 6.06% at $0.04 iAnthus Capital Hldgs (OTC:ITHUF) shares closed up 5.77% at $0.01 Emeren Group (NYSE:SOL) shares ...Full story available on Benzinga.com

Elon Musk's drug consumption while on the campaign trail with President Donald Trump, according to a Friday New York Times report, was excessive. The tech billionaire apparently told friends that he was consuming so much ketamine – an effective anesthetic – that it was affecting his bladder. The outlet also reported that Musk was taking Ecstasy and psychedelic mushrooms. Musk has said in the past that "Psychedelics and MDMA can make a real difference to mental health, especially for extreme depression and PTSD. We should take this seriously." Musk, who led the Department of Government Efficiency (DOGE) team that wreaked havoc on several major governmental agencies as part of its goal to cut federal spending, would travel every day with ...Full story available on Benzinga.com

Canopy Growth Corp (NASDAQ:CGC) reported on Thursday fourth-quarter 2025 sales of CA$65 million ($45.75 million), down from CA$72.8 million a year ago. The stock has fallen by 21% since the report. Net revenue in the quarter decreased 11% year over year, primarily due to decreased net revenue in international markets for cannabis and Storz & Bickel, offset by higher Canadian cannabis net revenue.  Consolidated gross margin decreased by 500 basis points to 16% in the fourth quarter of 2025. Adjusted gross margin decreased by 200 basis points year-over-year to 19%. Operating loss from continuing operations was CA$18 million in the fourth quarter, full-year 2025, representing an improvement of 83% compared to the fourth-quarter, full year 2024, primarily driven by a reduction in operating expenses. Also Read: Germany’s Cannabis Industry Hits 500 Million Euros: 2,500 Pharmacies Now Dispense, 211 Grow Clubs Approved Adjusted EBITDA loss reached CA$9 million, representing a 39% improvement year-over-year, driven primarily by the realized benefit of the company's cost savings program.  Canada cannabis net revenue was ...Full story available on Benzinga.com