November 2025 Newsletter

• Federal hemp rules boost regulated cannabis. New language in the federal spending bill closed the intoxicating hemp gap, tightening oversight of synthetic and high potency hemp products. This shift draws a clean line between state-licensed cannabis operators that follow mandated testing and tracking rules, from hemp sellers that operate with little to no oversight. This should bring more THC consumers into regulated channels, especially in states with established AU infrastructure.
• Minnesota licensing interest builds ahead of 2025 launch. Early application activity at the Office of Cannabis Management shows strong participation from retail, craft production, cultivation, and processing applicants. Rising demand from small and mid-tier operators is a clear signal that entrepreneurs are positioning for the first adult use licensing rounds and will compete early for compliant real estate.
• Five document packets that speed up cannabis property sales. New guidance from the CannaMLS blog highlights how organized ownership records, licensing and local approvals, clean financials and tax history, detailed facility documentation, and clear lien and contract schedules can shave weeks off diligence. Sellers who assemble these packets in advance enter buyer talks with more leverage and faster timelines. CEO Jade Green walks sellers through the essential document groups that keep buyers engaged and deals on schedule. Read the checklist or start your listing.
• Ohio changes its hemp policy to match federal guidelines. In Ohio, lawmakers advanced SB-56, which aligns state rules with new federal limits on intoxicating hemp, closes the gas station hemp channel, and unlocks a host community fund that directs 36% of adult use excise revenue to cities and towns that host dispensaries.
• Industry news snapshots across key states. Florida officials have advanced an adult use initiative toward a possible 2026 ballot, opening the door to one of the largest potential retail and tourism markets in the country. Missouri continues to post strong metrics, with sales already above $1.46B in 2024 and total market revenue above $4.418B since 2020, driving demand for dispensary and cultivation properties. In Virginia, new leadership is expected to push adult use sales toward a 2026 start, creating a path for a regulated market that could reach $1B within a few years.

Federal Hemp Rules Deliver Fresh Momentum for Regulated Cannabis

Congress is moving toward clearer oversight of hemp derived intoxicating products, and the shift is already energizing the regulated cannabis sector. The new language added to the federal spending bill closed the long standing hemp gap that allowed unregulated THC alternatives to circulate with little scrutiny. This change is viewed as a meaningful step forward for licensed cannabis operators. By tightening the rules on synthetic and high potency hemp items, Congress is helping create a clean distinction between state compliant cannabis businesses and low oversight hemp sellers. Many leaders in the industry see this as a path that strengthens trust, encourages investment, and supports fair competition.

With clearer definitions emerging at the federal level, the stage is being set for future policy updates that can benefit fully regulated cannabis markets. The move signals growing recognition of the value, stability and professionalism found among licensed operators who already follow strict testing, tracking and consumer safety requirements.

Source: Stateline: “Congress pushes hemp crackdown after pressure from states, marijuana industry”

Minnesota Cannabis Licensing Demand Signals Strong Market Entry for 2025

What is happening: The Minnesota Office of Cannabis Management reports a surge of interest across the full supply chain. The early submission portal shows high participation from retail, craft production, cultivation, and processing applicants. Interest from small and mid tier operators is especially strong, confirming that entrepreneurs are preparing for a competitive market.

Why it matters: Accelerating application volume is an indicator of confidence in the state’s upcoming adult use launch. For real estate owners and investors, this creates a clear window to position properties for future retail, mixed use, cultivation, and micro grow tenants. Demand is rising ahead of formal licensing rounds, providing actionable visibility for anyone seeking to deploy capital or secure a site.

What to watch: Facility based and retail-based categories continue to draw early interest. The spread of submissions across rural and metro areas hints at broad statewide participation. Watch for updated tallies from regulators as the application queue grows, since this will shape rent ranges, site selection, and lease up speed in the first year of the market.

Action for users: Review available Minnesota listings that match emerging demand patterns. Properties suitable for retail storefronts, small format production, and craft cultivation are expected to move quickly as applicants prepare to secure compliant sites.

Source: Minnesota Office of Cannabis Management Application Data

If your cannabis asset sale feels stalled, the hang up is not always the buyer; it is often missing paperwork. Sellers who arrive with the right documents can close faster, negotiate stronger, and avoid the silent drift that kills momentum.

These 5 packets are your foundation: ownership and control, license and local approvals, financials and tax filing clarity, facility and real estate documentation, plus liens and contract obligations. Prepare them upfront and unlock a smoother, quicker sale.

What to do now: Start gathering these document groups today. Whether you are listing a dispensary, cultivation site, or manufacturing facility, early preparation means you will set the pace (not the buyer).

Source: CannaMLS Blog 5 Key Documents to Prep for a Faster Sale (Nov 18 2025)

Ohio Lawmakers Move Hemp Fix and Local Cannabis Dollars Closer to the Finish Line

After a long day of negotiation in Columbus, lawmakers agreed on an updated version of SB 56 and the Ohio house signed off on the conference report in the early hours of the morning. The bill aligns state rules with the new federal limit on intoxicating hemp and THC drinks, closes the gas station hemp loophole, and restates that high THC products belong in licensed dispensaries. It also unlocks the host community cannabis fund, which will send about 36% of adult use excise revenue to cities and townships that host dispensaries, giving local officials a clearer reason to support compliant projects and new investment.

The vote comes just weeks after a 90 day executive order that attempted to ban all hemp THC products was blocked in court, where 3 hemp companies argued the order conflicts with state and federal law. By moving a permanent statute that mirrors federal language, lawmakers are signaling that the long term answer will be predictable rules in the code, not rolling emergency actions.

Source: Ohio legislature fiscal and local impact note for S B 56 and intoxicating hemp framework

Florida Takes Key Steps to Advance Adult Use Cannabis Initiative

• Florida elections officials have taken formal steps to advance a citizen initiative that would legalize adult use cannabis, confirming that petition totals meet the threshold to move the measure to the next review stage.
• In a November 17 filing, the Florida secretary of state told the state supreme court that a complaint by the Smart and Safe Florida campaign is now moot because the state has recognized the petitions and transmitted the proposed amendment for review.
• Those actions trigger the required process where the Florida attorney general and then the state supreme court examine the ballot language to decide whether the adult use amendment can appear before voters, positioning the state for a 2026 vote if the language is approved.
• For multistate operators, local entrepreneurs, and real estate owners, this marks an important inflection point in one of the largest medical cannabis markets in the country, signaling that full adult use retail, tourism, and facility demand could be on the horizon if voters ultimately back the amendment.

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Missouri Cannabis Market Poised for Explosive Growth

• Rapid Market Expansion: Missouri's legal cannabis market is projected to grow at a Compound Annual Growth Rate (CAGR) of 23% from 2023 to 2030, indicating significant opportunities for investors and operators.
• Strong Sales Performance: The market has already demonstrated remarkable vitality, with sales surpassing $1.46 billion in 2024. Year-to-date sales reached over $1 billion by August 2025, and cumulative sales have exceeded $4.418 billion since the medical program launched in 2020.
• Real Estate Opportunities: This growth is driving substantial demand for specialized cannabis properties, including dispensaries, cultivation warehouses, and suitable agricultural land, creating a fertile ground for real estate development and investment.

Virginia Poised for Adult Use Sales in 2026 Under New Leadership

• Political Shift Accelerates Sales: The election of Democratic Governor Abigail Spanberger and expanded Democratic majorities in the legislature are expected to fast track adult use cannabis sales legislation in Virginia, aiming for a 2026 launch.
• Market Potential: With possession legalized since 2021 but no licensed sales, a regulated market is anticipated to reach $1 billion within a few years, addressing the existing illicit market.
• Opportunities for Operators: New bills are expected in the 2026 legislative session, potentially leading to retail sales by mid 2026. Existing medical cannabis operators are well positioned to capitalize on this expansion, with considerations for licensing, taxation, zoning, and equity provisions being developed by the Joint Commission.