Welcome to the latest edition of “Last week in Weed,” catching you up on the latest breaking news and industry developments in the world of cannabis.
Here’s what you may have missed over the last week:
MM Brands Acquisition Signals a Reset for Legacy Cannabis CPG
MM Brands Inc. finalized its acquisition of BellRock Brands’ portfolio out of receivership, bringing legacy names like Mary’s Medicinals, Dixie Elixirs, Rebel Coast, and Défoncé under new ownership backed by KEY Investment Partners. The deal injects fresh working capital and installs former Curaleaf CEO Joe Bayern as chief executive, with a stated focus on science-driven wellness products and an asset-light, brand-first strategy.
Mike Tyson and Ric Flair Lawsuit Exposes Risks in Celebrity Cannabis Deals
Mike Tyson and Ric Flair filed a federal lawsuit accusing former partners tied to Carma HoldCo of fraud, embezzlement and unauthorized use of their likenesses in cannabis branding ventures. The complaint alleges that executives made side deals, misrepresented company valuations and diverted funds for personal gain, seeking damages exceeding $50 million.
Defendants have denied the allegations, calling the suit meritless. Regardless of outcome, the case is already prompting renewed scrutiny of celebrity licensing structures and governance in cannabis, where star power has not always translated into durable brands.
Proposed Hemp Legislation Could Delay Market Disruption
A bipartisan bill introduced in Congress this week would delay a federal ban on intoxicating hemp products, including delta-8 THC, until late 2028. The proposal responds to industry concerns that an abrupt prohibition would destabilize farmers, processors and retailers who rely on federally legal hemp derivatives.
If passed, the delay would provide additional runway for regulatory clarity and could preserve significant revenue streams in states where hemp-derived cannabinoids remain widely sold.
Minnesota’s Adult-Use Market Expands but Pricing Pressures Remain
Minnesota’s legal cannabis market continued its early growth phase, with reported sales surpassing $31 million since broader retail operations launched last fall. Cultivation capacity has increased steadily, though retail flower prices remain well above national averages.
Regulators and operators alike are watching whether expanded supply in 2026 will bring price normalization or if limited licenses will keep costs elevated for consumers.
Wholesale Cannabis Prices Show Early-Year Movement
National wholesale cannabis pricing ticked upward in early January, according to industry benchmarks, ending 2025’s prolonged slide in some regions. The gains were uneven, with certain legacy markets still experiencing price softness. Analysts say the mixed signals reflect a market still searching for balance as production efficiencies clash with uneven retail demand and ongoing consolidation.
Insurance and Federal Policy Continue to Shape Operator Risk
Discussion intensified this week around how recent federal actions could influence cannabis insurance markets. While not a legalization measure, updated federal guidance and executive actions may reduce uncertainty for insurers evaluating cannabis risk. Operators are watching closely, as insurance availability and pricing remain critical pressure points for margins in both medical and adult-use markets.
Cannabis Stocks Trade Unevenly Amid Volatility
Public cannabis equities delivered mixed results over the past week. Aurora Cannabis saw shares dip early before rebounding later in the week, while Tilray Brands, Canopy Growth, Cronos Group and SNDL remained among the sector’s most actively traded stocks.
The uneven performance reflects lingering investor caution as companies await clearer signals on federal reform, profitability timelines and broader capital market conditions.
