This Week In Cannabis: DEA Slams Legal Weed, Texas Votes Hemp Ban, Argentina Tightens Medical Rules And More – Curaleaf Holdings (OTC:CURLF), Blum Holdings (OTC:BLMH)

From Texas’ escalating war on hemp to EU-certified inhalers and Argentina’s full-scale overhaul of its medical cannabis program, this week offered no shortage of headlines that could shape the future of the cannabis industry across borders and sectors.

Let’s dig in.

Policy & Legal

Texas House Passes Hemp Ban, Threatens 50,000 Jobs

In a late-night vote Wednesday, the Texas House passed SB 3, banning hemp-derived THC products across the state. Championed by Lt. Gov. Dan Patrick, the measure criminalizes products containing any THC or THCA, despite opposition from 50% of voters, per a Texas Politics Project poll. The state’s hemp industry, supporting 53,000 jobs and $268 million in tax revenue, now braces for litigation. Advocates are urging a veto.

Meanwhile, HB 46, aimed at expanding Texas’ Compassionate Use Program, remains pending in the Senate. It proposes adding qualifying conditions like chronic pain, expanding licensing, and permitting more administration methods—but retains the 1% THC cap and bans flower.

DEA Report Criticizes Legal States, Admits Prohibition Fuels Illicit Trade

In its 2025 National Drug Threat Assessment, the DEA accused cartels of exploiting state-legal cannabis programs. However, the report also acknowledged that demand for illicit cannabis is driven largely by prohibition states—ironically making the case for federal reform.

DEA nominee Terrance Cole, in confirmation hearings, refused to take a position on rescheduling cannabis but called review of the issue a “first priority.”

Read more on Marijuana Moment

Argentina Overhauls REPROCANN Framework

The Ministry of Health issued Resolution 1780/2025, revamping Argentina’s cannabis cultivation registry. Key changes include new rules for nonprofit growers, research institutions, and third-party cultivators, plus mandatory training and digital registration for prescribing doctors. While patients can retain current registrations for up to 3 years, others face stricter 1-year renewals and enhanced oversight.

Full breakdown via El Planteo

Corporate & M&A

Blüm Holdings to Deepen Stake in Cookies

Blüm Holdings, Inc. BLMH signed a binding term sheet to acquire 100% of a holding company with an indirect equity stake in Cookies Creative Consulting & Promotions, Inc. The transaction—worth roughly $562,500—could amplify Blüm’s presence alongside one of cannabis’s most recognized brands.

Village Farms Spins Off Fresh Produce Arm to Focus on Cannabis

Village Farms VFF will transfer key greenhouse and distribution assets to a new private joint venture with Sweat Equities, dubbed Vanguard Food LP. The move unlocks $40 million in cash and refocuses the company’s strategy on international cannabis.

Global Markets

Canada: Industry Pushes for Excise Tax Reform

Deloitte’s 2025 report confirmed that Canada’s cannabis excise tax model is crushing legal operators. The Cannabis Council of Canada renewed calls to replace the $1/gram floor with a 10% ad valorem tax, noting that current rules are outdated and misaligned with market prices.

GrowerIQ to Represent Canada on Thailand Trade Mission

Toronto-based GrowerIQ was selected by Global Affairs Canada to join a trade mission to Thailand, becoming the only cannabis company in the delegation. Thailand’s market, legal since 2022, is expected to grow at a 33% CAGR over five years.

Tilray Launches ‘Good Supply’ in Germany

Tilray Brands TLRY expanded its European medical cannabis footprint with Good Supply’s launch in Germany. Strains include Snow Leopard, Purple Octane and Lemon Haze Gelato. Products will be available via prescription at German pharmacies.

Read more on Benzinga

Curaleaf and TILT Secure EU Certification for Medical Inhaler

Curaleaf International, a subsidiary of Curaleaf CURLF and TILT Holdings TLLTF announced EU Class IIa certification for their new handheld medical cannabis inhaler. The approval unlocks opportunities across the EU, UK, Canada, and Australasia.

Financials

Planet 13 Reports Q1 Revenue of $28M

Planet 13 Holdings PLNH posted $28 million in Q1 2025 revenue—a 22.5% YoY increase. Gross margins shrank to 42.8%, while adjusted EBITDA swung to a $2.5 million loss. The company cited pressure on pricing and consumer demand.

Vext Grows Revenue 38%, Hits $3.1M in Operating Cash Flow

Vext Science VEXTF reported $11.6 million in Q1 revenue, up 38% YoY. Operating cash flow reached $3.1 million. The company highlighted growth in Ohio and retail resilience in Arizona.

Events & Culture

#InvestInHER Returns to Benzinga Cannabis Capital Conference

Women-led groups like Women Grow, Verdant Strategies and IWC will host mentorship and networking events during the Benzinga Cannabis Capital Conference in Chicago (June 8–10). The #InvestInHER Lounge and scholarship programs aim to boost visibility, funding access, and leadership for women founders.

More info here

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