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:
SCOTUS Poised to Decide Fate of Federal Cannabis Prohibition
The U.S. Supreme Court has scheduled a closed door conference on December 12 to weigh whether to hear Canna Provisions v. Garland, a landmark challenge to the federal ban on cannabis.
If the Court grants review, it could mark the first time in decades that the highest court addresses the constitutionality of federal prohibition in the modern, state-legal cannabis era.
That alone makes this the most potentially seismic legal moment in years, a looming shockwave with enough force to rattle the entire multi billion dollar cannabis machine to its core.
Record Breaking “Green Wednesday” Surges as Cannabis Moves Fully into Holiday Culture
The day before Thanksgiving, better known in cannabis circles as “Green Wednesday,” hit the U.S. dispensary scene like a fever dream. Stores reported crowds and cashflow rivaling the chaos of 4/20 itself.
From pre-rolls and edibles to top-shelf flowers (some reportedly selling out within minutes), consumers embraced cannabis as part of holiday tradition. A loud, unmistakable sign that America’s relationship with cannabis, and the rituals wrapped around it, is mutating fast and without apology.
Industry analysts note that the trend isn’t just about indulgence: older adults and occasional users are increasingly partaking, framing cannabis as part wellness, part social ritual, a shift that could continue to broaden the market’s reach.
Industry Pushback in Massachusetts over Ballot Campaign to End Adult-Use Sales
In a high-stakes political battle up in Massachusetts, the Massachusetts Cannabis Business Association (MCBA) is urging voters to withdraw their signatures from a petition by the Coalition for a Healthy Massachusetts which aims to put a 2026 ballot initiative banning adult-use marijuana back on the map.
The coalition claims it has collected enough signatures to qualify, but MCBA says many were gathered under deceptive practices with petitioners allegedly misrepresenting the initiative’s intent (some voters say they thought they were signing for housing or “safer streets”).
With roughly $1.6 billion in annual adult-use sales and thousands of jobs in the state at stake, the outcome of this fight, whether the repeal makes the ballot or fails on procedural grounds, will be closely watched by the broader U.S. cannabis industry.
Tilray Tops Volatility as Cannabis Stocks Struggle
Cannabis stocks finished the week under pressure, led by Tilray (TLRY), which plunged 16% after announcing a 1-for-10 reverse stock split to cut its share count and attract institutional investors. The move spooked the market, highlighting ongoing challenges for large cannabis companies.
Other major names were calmer but still weak: Canopy Growth (CGC) slid slightly to $1.14, Aurora Cannabis (ACB) held around $4.54, and Cronos Group (CRON) stayed flat near $2.47. Overall, trading reflected broad investor caution amid regulatory uncertainty and sector struggles.
November’s losses continued into the week, with indexes for Canadian and U.S. operators dropping, and investors largely waiting on news like potential federal legalization or hemp-THC rules to shake things up.
